Bitcoin has created a short-term range between $66,900 and $59,700, with the price sitting in the middle of the range at press time.
Bitcoin has formed a smaller range within this range.
Bullish conviction has waned significantly and selling pressure may soon take over.
Bitcoin [BTC] continues to trade between $73,000 and $60,700, forming a range.
In an earlier analysis, AMBCrypto reported that bulls need to defend the $64,500 support area to break through the $66,000 resistance level.
But that did not happen, and instead we saw a rejection at $67,000 followed by a move to $62,800. This development came at a time when both whale activity and ETF inflows were slowing down.
Therefore, the argument for continued short-term consolidation is valid.
The market is picking up, and the bull market is about to return???
Last week there was the Israel-Iran conflict, and this week we saw the release of GDP and PCE data, which were negative and continued to decline.
Until Ethereum stretched strongly, the altcoins also followed suit. Don't worry, everyone. From a historical perspective, altcoins such as ETH have all started to rise after the halving of Bitcoin, and the extent is far greater than BTC. Many bigwigs, led by Shenyu, said that "there will be no altcoin season in this bull market." It is a good thing that the market is controversial. As long as it is a capital market, there will be times when liquidity overflows; as long as people are still participating, they will chase sector targets, so I think there will definitely be an altcoin season; as for why they deny that there will be an altcoin season, it is probably because they think that funds will be concentrated on ETFs this round, especially when there is no water release, liquidity is limited. From a human perspective, new liquidity will basically not choose BTC after entering the market, and altcoins are the main battlefield for harvesting. Retail investors always tend to hold options with higher risks and higher potential returns.
Labor Day is approaching, and unfortunately the Fed is going to make trouble again. Worrying inflation data for three consecutive months shows that the Fed's pace towards the 2% target has stagnated. Can the cryptocurrency market reverse the downward trend? ? It all depends on the release of the non-agricultural data report on May 3! Remember, if there is a big drop before the data is released, you must boldly buy the bottom. Currently maintain a 50% position
As for the current research on copycats, it can be seen that big funds are withdrawing rapidly from the initial waterfall stage of copycats.
Why is it so urgent? The core is that the village needs to cut a wave of enemies and reserve more bullets to prepare for the next stage.
After all, when Bitcoin was rapidly reaching new highs, it was obvious that the altcoin funds could not keep up. This was probably because ETF funds were flowing into BTC, but there was no ETF fund inflow into the altcoins.
In the future copycat season, the prerequisite for a collective copycat rise is that the overall market needs to rise and stabilize.
In the early stage, the big cake rose too fast, and many copycats could not catch up. When the big cake crashed, it was even more impossible to pull up the market against the trend, because the big cake was unstable. If the copycats pulled up the market, the dog dealers might suffer losses because retail investors were afraid and stopped chasing.
The question is whether Bitcoin is willing to continue to fluctuate and stabilize at 60,000-70,000, or return to 56,000 or even further down to re-accumulate strength. If it cannot be pulled up and cannot break the 65,500 pressure level, a pin-point pullback is understandable.
Future investment directions for the altcoin market and the tokens in the promising sectors:
①Solana ecosystem: pay attention to the conference in September, and pay attention to SOL, JTO, JUP, PYTH, BOME, and BONK.
②BTC ecology: The inscription sector has huge potential in the second half of the year, pay attention to ORDI, SATS, RATS, STX, and MUBI.
③RWA sector: focus on ONDO and TRU.
④Game field: focus on IMX, XAI, PIEXL, YGG, GALA, and ACE.
⑤New link: Follow TIA, SUI, SEI.
⑥ AI field: The GPT-5 conference is coming soon, pay attention to RNDR, FET, LPT, ARKM, NFP, JASMY, and WLD.
⑦MEME: Follow DOGE, PEPE, WIF, and SATS.
⑧L2：ARB，STRK，LRC。
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