It's another day to witness history. Bitcoin has been grinding around 6w9 for a week, and finally chose to break upward at noon today, and broke through the two integer barriers of 7w and 7w1 all the way. Looking at this situation, there is a high probability that it will break through 7w3 today. In fact, my guess about Bitcoin's trend today was almost the same last week. At that time, the first impact on 6w9 failed, and then a big needle was inserted downward and hit 5w9 directly. After comparing the trend in December 2020, I found that the previous high would be adjusted for 7-10 days before it was officially broken, especially after the first impact on the previous high, there would often be a sharp correction afterwards, so In my prediction, Bitcoin will officially break through in a week, and then stand all the way up to 7w and 7w1. Today it seems that Bitcoin really respects the cycle. Today is simply a repeat of December 16, 2020. Those who are interested can go and see how it moved at that time. I personally think that Bitcoin is likely to rush to 10w before the halving. After all, 25 days after the new high in December 2020, the price of Bitcoin doubled again. So if it doubles again at the current price, it will be 14w. Considering that the current market value of Bitcoin is larger, the increase may be discounted, so the prediction of hitting 10w in the next month is reasonable.

Then let's talk about the performance of ETFs. Currently, the scale of Bitcoin ETFs is still in a period of rapid growth. Last Friday, the net inflow of funds was US$223 million, and the total net inflow last week was US$2.237 billion. Among them, BlackRock inflow was US$2.069 billion, Fidelity inflow was US$1.337 billion, and Grayscale outflow was US$1.652 billion. The current ranking of Bitcoin ETF scale is Grayscale GBTC managing US$27.729 billion, BlackRock IBIT managing US$12.966 billion, and Fidelity FBTC managing US$8.345 billion.

In terms of trading volume, the total trading volume of all Bitcoin ETFs in the United States exceeds 100 billion US dollars. Another piece of news that may be directly related to the Bitcoin price breaking 70,000 this afternoon is that European funds have begun to buy a large number of Bitcoin ETFs, and the main buyers this time are passive strategy funds. The characteristic of this type of fund in the early stage of building a position is that it does not look at the price and buys directly. For example, Germany's AV balanced fud plans to allocate 5% of IBIT, and then it keeps buying directly from the market. This situation will definitely have a pull effect, and the time point of Bitcoin's breakthrough today coincides with the European trading time, so this may really be one of the reasons why the market chose to break through at 2 pm this afternoon.

Speaking of altcoins, the ETH/BTC exchange rate fell slightly over the weekend, but it rebounded every time it reached 0.055, so ETH's support is still strong. Today, as Bitcoin broke through 7w1, Ethereum finally reached 4000 points. Although it is still some distance from the previous high of 4800, considering that the Cancun upgrade will be held in two days, the Cancun upgrade has brought the market focus back to ETH, because sharding and modularization may be hyped up in the future. We have seen more and more voices from V God recently, so it is hard to say whether Ethereum will have new technology or performance expectations. By then, as long as the BTC price can be maintained, Ethereum will definitely break through the previous high, so the next one or two weeks will be a strong period for Ethereum.

Then there are the sectors. The most eye-catching sectors over the weekend were AI and gamefi. WLD reached a high of nearly $12, opening the ceiling of the AI ​​track again. RNDR and FET almost maintained the rhythm of new highs every day. Near also became an AI project because of its founder's speech at the NVIDIA AI Conference. It soared 50% in the past three days. Not to mention other small-cap AI projects, many of which doubled in a single day. In short, the strength of the AI ​​sector may run through the entire bull market, and even in the next round of bull market, AI will still be strong. If you don't have a certain AI position at this time, then you must reflect on it; the game sector also took off over the weekend, $pixel took the lead and hit new highs for three consecutive days, $GALA $BNX $RON $YGG $ILV also continuously refreshed the highs of the past two years, and even the flow slp that has not risen for ten thousand years has been very strong in the past few days. Gamefi has developed to the point where there are some quantifiable data to support its own value. This is also one of the most easily implemented tracks in the currency circle; in addition to the above two sectors, platform coins headed by BNB and link The oracle sector led by, especially pyth, has reached new highs, and the meme sector, floki wif shib and so on have also performed well. The current market situation is a general bull market. Many sectors that have not moved before will also usher in rotation in the future. As long as the assets in everyone's hands belong to the leading level of high-quality tracks, there is no need to worry about the future increase.

Market Analysis

BTC: Bitcoin has made history again. 71w is just the beginning. In December 2020, after breaking the new high, there were 20 days of pulling up the price, which means that new highs were set almost every day. 25 days later, the price of Bitcoin doubled from the previous high. Now it is less than 40 days away from the Bitcoin halving, so in the next month, Bitcoin may spend half of the time setting records. On the eve of the halving, we are likely to witness more than 10w of Bitcoin. I will not analyze the rest. Let’s go for it. Don’t be afraid of a pullback. The trend is already out!

ETH: ETH has a good trend, breaking through 3900, and the exchange rate against BTC has also broken through 0.058, which is one step closer to the 0.06 I have been talking about. Starting next week, ETH will officially enter the Cancun upgrade hype period. Binance has officially announced that it will stop withdrawals on March 13. At this time, funds will definitely do something, and there is a high probability that they will make a single wave on certain cex. In short, even if ETH cannot break through the previous high in the next few days, it will at least break 4000, and ETH’s growth potential in the medium and long term is greater than that of Bitcoin.

This is a big bull market in spot market, are you ready?

Play spot trading and want to make big money in the bull market cycle! The first thing is to choose the right platform!

Undoubtedly, Binance is still the best platform for trading! Today, Conan has compiled in detail the projects launched on Binance last year and this year (so far), as well as the spot trading share and trading volume of each major CEX!

1. Currently, Binance has launched a total of 39 projects from the beginning of 2023 to 2024, and all the launched projects have performed well.

2. Investing BNB to mine new coins in Launchpool has achieved good returns. More importantly, the Binance secondary market also provides opportunities to get on board. From a time perspective, starting from 23 years ago, the longer the online time, the higher the overall secondary market yield.

3. It can be seen from the data that the MEME concept, AI concept, and public chain concept have performed the best. Currencies led by PEPE, WLD, and SEI are star projects in each track.

4. When comparing Binance with other platforms, Binance's spot share, trading volume, currency depth, and density of high-quality currencies listed are still far superior to other CEXs.

5. As the platform currency of Binance, BNB has performed very well with the recent promotion of Launchpool and the growth of fundamentals. The income this month is almost 70 points, which exceeds many projects with the same large market value. It has now broken through the strong pressure level of the monthly line. I believe that with the golden shovel effect of new coin mining in the future, its strength will be even more obvious!

Therefore, we can focus on the currencies launched by Binance in January, February and March this year. They may perform better in the subsequent bull market cycle! In the dividend cycle, wealth can only dance if you stand on a good platform. We look forward to the high-quality projects launched by Binance and related actions that promote and build the industry!

Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.