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Wall Street is back in the cryptocurrency world! Three major positive news swept the cryptocurrency world. These coins will usher in an epic market. I am most optimistic about them!
Mentougou has been operating frequently. When will the tens of billions of selling pressure end? What are the latest data of ENS, Sol and ARB? And what is the latest progress of Ethereum ETF? Let's follow Shuqin to find out.
The first is the full entry of Wall Street, and three major news shocked the cryptocurrency circle.
The first is that Ethereum’s ETF is finally going to be launched.
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The SEC gave a deadline to S1 form applicants early yesterday morning, requiring them to submit the final version of the document this week. S1 will take effect after the close of next Monday, which means that the Ethereum ETF will be listed on the Nasdaq and NYSE next Tuesday, and will usher in additional billions of dollars of buying in the next few months. Ethereum and its ecological coins ENS, PEPE or Pendle are likely to strengthen in the near future.
The recently popular market maker GSR secretly purchased nearly 5 million US dollars of ARB. Although it was transferred to Binance for market making, most people may think that someone is preparing for the Ethereum ecosystem. This is actually true, but with so many ecological coins, why does GSR only favor ARB? Is there any secret that we don’t know?
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Yes, there is. Shuqin reported at the end of June that ARB had previously proposed in the community to distribute 50% of the ARB sorter profits to token holders, which means that ARB holders will receive 7% staking income per year.
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The voting date for this proposal will begin in late July, which may bring a wave of popularity. This is the information gap. Knowing it in advance may lead to profits.
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The key question now is, will Ethereum start to plummet after all the good news comes out after the ETF goes online next week?
Um...it is indeed possible. If Ethereum rises a lot before next Wednesday, we need to take profit on the high-multiple contracts on that day to avoid the callback wave after the good news is exhausted. If the rise before the launch is not too much, there should not be too big a callback.
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But no matter how the short-term fluctuates, Ethereum is bound to start a bull market in the long run. Just look at the trend of Bitcoin after the ETF was launched.
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After experiencing a short-term correction, it started its bull journey and doubled in just two months. After all, the additional tens of billions of incremental funds from Wall Street entered the market, which was no joke.
Solana is also very likely to reach a breaking point. In addition to the expected rise to 168, the edge of the ascending triangle, it also has a hidden benefit.
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I don’t know if you still remember that after the Bitcoin ETF was launched, it was not Bitcoin that rose the most, but Ethereum. Because everyone is thinking, Bitcoin ETF is launched, who will be the next one, will it be Ethereum’s turn next?
So by the same token, when the Ethereum ETF goes online, it may cause Solana and WIF to explode.
Another major driving force behind the rise in the cryptocurrency market this week was the CEO of BlackRock, who personally came out to call for orders.
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After praising the benefits of Bitcoin for two full minutes, everyone saw that Bitcoin then went up to 65,000, so Wall Street’s ambition to return to the cryptocurrency circle is really obvious.
The CEO of computer giant Dell also forwarded the video and commented that Bitcoin is really fascinating. So many smart money is entering the cryptocurrency circle, and if you still can't see the situation clearly, then you really need to worship the God of Wealth.
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Moreover, after BlackRock launches the Ethereum ETF next week, there is still a high probability that Larry will go on TV to push up the stock price. These are all worth looking forward to.
However, although the cryptocurrency market has rebounded well in the past few days, we should not be too inflated, because the sword of Mentougou is still hanging high.
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It has transferred 4 billion USD to multiple exchanges in the past two days while Bitcoin rebounded. According to Kraken, its platform has received funds from the Mt. Gox trustee, and these billions of chips will be distributed to creditors within 7 to 14 days.
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So there will definitely be some selling pressure by then, but if you think about it the other way around, Mentougou has already cleared more than half of its inventory, and by the end of this month, all the bad news will be out, and there will be a bright future ahead!
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And don't forget that FTX will release 16 billion US dollars into the market in October, which will not only offset the 8 billion selling pressure, but will even bring an additional 8 billion into the market.
Therefore, any pullback in the next two weeks will be your best opportunity to cover your position, because after that will be the US election, the Federal Reserve’s interest rate cut, and FTX repayment, the cryptocurrency market will definitely reach a new peak.
In a bull market, Dogecoin often performs amazingly, with its growth far exceeding the market. We have analyzed before that Pepe will bottom out after a 50-60% correction every time, starting a new round of growth, which can generally increase by 3 or 5 times.
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So Shuqin recommends this coin to everyone almost every issue, and now it has completely taken off, soaring 30% a day, leaving all the mainstream coins far behind. Those who haven't bought in yet can consider buying it at a little above 0.11 and 0.115.
In fact, it’s not just Pepe. The brands we often recommend, such as People, Floki and OM, have also increased by 50% in the past few days.
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Some people panicked and sold their stocks at the lowest point when the market plummeted before, so sometimes you really just need someone to help you at the critical moment, not to sell your stocks randomly, and to buy at the bottom bravely. Those who entered the market with me at that time have all gained 40% until now, not counting leverage.
If you are interested in daily operations, you can also come and have a look.
Okay, let’s continue.
The Federal Reserve, which had been tough for two years, has finally begun to take a dovish stance. Powell said at this week's meeting that he was satisfied with the current downward trend in inflation. He even said that if the Federal Reserve waits until inflation falls to 2% before cutting interest rates, it will be too late.
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Oh my God, the Federal Reserve is about to make a complete change!
Therefore, we can really look forward to the interest rate meeting in the early morning of August 1st, because Powell is likely to announce multiple interest rate cuts this year on that day, which are all intended to inject funds into the market!
Trump's running mate has also been confirmed to be Vance, who has close ties with the cryptocurrency world. Not only does he hold hundreds of thousands of dollars in Bitcoin, but he has also spoken for the cryptocurrency world in multiple amendments, and his wife is even helping Coinbase sue the SEC.
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Coupled with Trump's positive attitude, the Federal Reserve's massive money printing, and the listing of Bitcoin and Ethereum ETFs, it can be said that this bull market in the cryptocurrency circle has the right time and place. This time we are also fully prepared. We will no longer be bystanders, but personal participants in the bull market!
So, are you ready to embrace this overwhelming wealth?