After reaching a historical high of $99,588 over the recently concluded weekend, Bitcoin began to oscillate downward. Yesterday evening, it started a significant correction from around $98,500, dropping to a low of $95,745 at midnight. However, it has rebounded before the deadline and is currently reported at $97,559, down 1.04% in the last 24 hours.
As for Ethereum, the strong momentum from a few days ago seems to have slightly cooled off, dropping as low as $3,281 last night. As of the deadline, it is reported at $3,330, down 2.84% in the last 24 hours.
In the past 24 hours, nearly $500 million was liquidated across the network, affecting over 190,000 people.
In the context of Bitcoin's downward movement, according to Coinglass data, the total liquidation amount across the cryptocurrency network in the past 24 hours reached $495 million, with long positions liquidating $364 million and short positions liquidating $131 million, affecting over 193,000 people.
Today, three potential MEME coins have emerged in the market:
BSC chain MEME coin frenzy: Banana breaks 64 million, Cheems hits a new high of 230 million, WHY strongly rebounds to 120 million.
Banana: A concept coin from Musk, inspired by the banana he drew on the Starship. Although the 'authentic' Banana on the SOL chain has seen its market cap drop to 4.5 million, the same-named coin on the BSC chain has risen against the trend, with a market cap exceeding 64 million and topping the trading volume on the BSC chain.
Cheems: A MEME coin characterized by a dog image, ranked second in trading volume on BSC, with a market cap breaking 230 million for the first time, hitting a historical high.
WHY: After a sharp rise followed by a steep drop, WHY has quietly returned to a market cap of 120 million and briefly surpassed its previous high.
With the boost from these three major coins, the attention on MEME coins on the BSC chain continues to rise. It is worth noting that they have not yet been listed on Binance.
This week's market focus:
1. Continued inflow into ETFs: If the inflow trend of last week continues, Bitcoin is expected to break through the 100,000 mark!
2. Capital sucking effect: If Bitcoin breaks through 100,000, we need to observe whether it will suck capital from other cryptocurrencies. If this sucking effect occurs, Bitcoin's adjustments may lead to a rebound in the affected cryptocurrencies, forming sector rotation.
3. Layout of anti-dip coins: If Bitcoin corrects, pay attention to coins that have seen smaller declines, as they may have capital support, and consider laying out potential targets.
4. On-chain rhythm restart: The performance on-chain was sluggish in the second half of last week. This week, we need to pay attention to whether there are strong projects (like Big Dog) that can drive a new round of on-chain trends!
Today's article ends here. Currently in a bull market, with changes in the air, we share passwords daily. If you don't know what to do in a bull market, feel free to follow us for spot password strategies which can be shared for free.
