Today we will discuss the latest trends in Bitcoin and the changes in fund flow, especially the performance of the Ethereum (ETH) sector.
Bitcoin: Ending consolidation, continuing to challenge $100,000
Breakthrough after consolidation
Bitcoin recently underwent a period of consolidation, with its price hovering between $92,500 and $95,000. The 4-hour chart from yesterday shows that Bitcoin has formed a micro-reversal structure, indicating that it is about to challenge the round number of $98,000 or even $100,000 again.
Currently, there are not many doubts about Bitcoin's pattern; the likelihood of continuing to push upwards is high. However, investors need to pay attention to whether the price will encounter significant resistance around $100,000. If the breakthrough fails, it may form a double bottom structure, further pushing the price up.
Fund flow: Focus shifts to Ethereum
In addition to Bitcoin's trend, the flow of funds is also an important part of market analysis. From the current market perspective, the flow of funds has clearly shifted to the Ethereum sector, especially regarding the trading pairs of Ethereum and Bitcoin. Ethereum has successfully broken through the previous diagonal trend line, and the breakthrough is not a false one, but may form a double bottom structure. If it continues to rise and breaks through the dense chip area at the price range of 0.04, Ethereum is expected to rush towards $5,000 within this year.
Currently, the trend of ETH is very clear, breaking through previous highs, and the support level below the price is quite solid, which means ETH may continue to break upwards, challenging higher price ranges. Investors should pay special attention to ETH's trading pairs and its performance in the market, especially whether it can break through the key level of 0.04 in the coming months.
Ethereum sector: Opportunities in sub-tracks
Ethereum and DeFi: Focus on potential projects
With the rise of Ethereum, related projects in the DeFi sector have also become a focus for capital inflow. Some emerging projects within the Ethereum ecosystem, particularly in the DeFi, NFT, and Domain System (ENS) tracks, are beginning to attract investor attention. For example, projects like AAVE and the Domain System (ENS) are currently in a rising trend.
AAVE: As a leading project in the DeFi sector, AAVE's performance is very strong, breaking through previous highs and then retracing to confirm support, and it is expected to rise further. Investors can focus on buying opportunities after its retracement.
ENS: The performance of ENS is also noteworthy. With the increasing market demand for Web3 and decentralized applications (DApps), ENS is expected to continue breaking through historical highs, challenging the range of $60-$70. As one of the infrastructures on Ethereum, ENS has very strong fundamentals and huge growth potential in the future.
Other sub-sectors: Meme coins and NFTs
In addition to DeFi and ENS, there are also signs of an increase in areas such as Meme coins and NFTs. Market funds are flowing into these Ethereum-based projects, which is expected to further drive the overall rise of the Ethereum ecosystem. With the push from NFTs and Meme coins, Ethereum's ecosystem will continue to expand, providing investors with more opportunities.
Summary: Bitcoin Breakthrough and the Rise of Ethereum
Overall, Bitcoin has ended its consolidation and is ready to continue challenging $100,000. Although it may face pressure in the short term, the potential for a breakthrough still exists. In terms of fund flow, capital has flowed out from the Solana sector and Meme coins, shifting towards Ethereum and its sub-tracks. Particularly in the areas of DeFi, NFTs, and ENS within the Ethereum sector, investors should remain vigilant and seize potential investment opportunities.
Investors need to closely track the key price points of Bitcoin and Ethereum, assess market trends, and flexibly adjust their investment strategies. Especially after Ethereum's price breaks through key ranges, it may bring new investment opportunities.