In the past 6 months, whales have purchased a total of 1,500,000 #Bitcoins. Although some whales have sold their BTC due to panic recently, most whales still choose to hoard coins. I believe there will be a big market in the fourth quarter of this year.

Bitcoin plunged with the release of CPI last night, but fell below $60,000 in the short term. It retreated after finding support near 58,000. Although it received support, it looked very weak from the market perspective. This weakness is expected to continue for a few days.

Although the market is weak, the ecosystem has clearly strengthened, including various rune DOGs, etc. After a few days of observation, it is obvious that the runes are operated by dealers, and the intention to raise gas is obvious. You can continue to pay attention and observe.

The area around 58,000 below Bitcoin is a very critical position. Judging from the trading volume, there is a trend of enlargement, but the K-line pattern closes with a long lower shadow, so it is suitable to wait and see! Let's see if there is a second retracement today!

The main force is not pulling up the market, but some low-market-cap copycats and MEMEs are making trouble. Why?

1. The funds brought by the Fed’s interest rate cut have not yet entered the crypto market. The mainstream needs a very large amount of funds to drive the market up, which leads to a very sluggish performance of the mainstream. At this time, retail investors will look for opportunities with higher returns and turn to low-market-cap currencies;

2. Insufficient liquidity. The purpose of pumping the market is to attract followers. By continuously changing hands in the market, the cost price of retail investors is raised and the purpose of selling is finally achieved. If there is no follow-up, then pumping the market becomes an opportunity for other retail investors to get out of the market.

3. Low-market-cap altcoins and MEME coins have become the main driving force of short-term market fluctuations due to factors such as active speculators, low circulation, and easy manipulation. In the past two days, almost all fan sectors have pulled up the market, because these targets have been washed out for nearly half a year and the car is already very light;

4. So next we should pay more attention to some low-market-cap copycats and take out a small amount of funds to try to get a bigger return.

4 promising potential targets

$ENS

V God is optimistic about a currency, and has publicly supported ENS many times, and the trend is very good. The price is at a low level and is near the strong support line. There are signs of stopping the decline and rebounding.

Therefore, you can buy at the current price of 16.5-16 and take a gamble, leaving a position for covering a position (15.5u for covering a position), and the defense line is 15u. If the prediction is correct, the profit will be very good. It is a currency with a high cost-effectiveness!

$LPT

The AI ​​track is the biggest narrative in this cycle. Musk is also vigorously developing AI. At the same time, LPT is also the project with the lowest market value in Grayscale AI Fund. Grayscale has always been the market maker of LPT, and its potential in the later stage is very large.

$WIF

The SOL chain has produced many billion-level memes this year, especially Bome, which was listed on AnAn in just three days and six days without anyone noticing, and also made a small number of people rich.

Bonk is one of the earlier ones, it was posted very early, and relatively speaking it is an old meme on Sol.

If we choose from the perspective of speculation on new rather than old, then the meme under the sol chain is the first new Bome, followed by WIF and finally Bonk. But if we look at the market value, WIF is more than 2 billion, Bonk is more than 1 billion, and Bome is more than 400 million. I am personally conservative and prefer a larger market value. Judging from the number of holders and the number of profit-taking addresses, Bome has made more profits and held more in the early stage. WIF did not have as large holdings and profit-taking as Bome and Bonk in the last round.

Taking the three into consideration, WIF is better.

Therefore, this is the reason why we have been emphasizing that WIF should be configured when a big drop occurs.

$FTM

This target cannot be viewed in a short-term way. The chips are fully circulated and it is currently undergoing a new upgrade. It is fully compatible with EVM. All rewards are for developers. There are several highlights that are likely to gain more hype at the narrative level.

AC in the FTM team, in short, is the leader of DeFi and is known as DeFi Satoshi, and DeFi has a sense of restart.