Bitcoin did not burst through the 100,000 USD integer barrier as the market wished; it peaked at 99,588 USD before turning down. BTC dipped to around 90,866 USD at its lowest, and when this article was written, the price had recovered to oscillate above 92,000 USD.
BTC has been unable to break through the psychological barrier of 100,000 USD; where does the selling pressure come from?
Long-term Bitcoin holders have sold 128,000 BTC, although Bitcoin spot ETFs absorbed 90% of the selling pressure during the same period. It has reached the highest level since April 2024, and profit-taking is gradually occurring.
So the question arises, where will Bitcoin pull back next?
The monetary policy minutes published at 3 AM showed a hawkish result, and Bitcoin fell below 91k accordingly. Moreover, the US stock market will be closed starting Thursday, which may lead to a temporary liquidity shortfall.
I see a good support near the integer level of 90,000, with a stronger support level at 87,000 below. Of course, it still depends on how the market operates, as the market is constantly changing. But don't be afraid, don't panic; the pullback is definitely for a better launch next time.
What will the market trend look like next?
As for the market trend ahead, in the near future, Ethereum's upward potential may be greater than Bitcoin's. The ETH/BTC ratio dipped to a key support level last week and rebounded, while last week's candlestick showed a trend reversal.
The low point may have already appeared; at least a short-term reversal is coming. Next might be the opportunity for altcoins.
Bitcoin is currently far above the daily moving average; with the digestion of the large rise since Trump's election, Bitcoin may continue to consolidate for some time. The funds overflowing from Bitcoin profits have already started to flow into altcoins, and the altcoin season is not far off.
Currently, the established mainstream public chains, meme, and gamefi sectors have all seen rises; the following sectors are worth paying attention to:
ETH Sector: ENS, PENDLE, UNI
RWA Sector: POLYX, RIO, TRU
Public Chains: TIA, SUI, and SEI
Solana Ecosystem: JTO, BOME, BONK, RAY
AI Sector: RNDR, FET, LPT, ACT
The AI sector has not yet had a major launch, while the established mainstream has temporarily taken a pause. The meme sector should still have a wave to come, and a single bullish line can eliminate all negative emotions... Don't say CZ has any influence on the meme sector; the market makers are the most anxious...
➜ $ZEN
ZEN has successfully upgraded to a public chain, covering all popular tracks.
This project was once marked as an observation label by industry leaders and later removed, which also suggests that there may be factors of market manipulation behind it.
Currently, the market capitalization of ZEN is only about 200 million USD, almost fully circulated, which seems extremely undervalued for a public chain covering multiple tracks.
As an asset under Grayscale, the potential of ZEN should not be underestimated.
➜ $MASA
The AI sector has not yet exploded this time, and it is a sector that can be ambushed. Masa is a decent target in the AI sector. The bottom has been moving slowly, and attention can be sustained.
➜ $PRIME
PRIME stands on two major narratives: gaming + AI, and is backed by Paradigm.
The ecosystem token behind the sci-fi card game Parallel has shown strong long-term performance.
AI Pathfinder Prime Chain has no better game at the intersection of AI x Crypto.
➜ $LISTA
As a quality project of Binance IEO, the TVL data on the Lista chain is quite impressive.
Since its launch, Lista has maintained a low profile and seems ready to launch into a significant rise.
Short-term investors may consider taking profits around 0.8 USD.
➜ $UNI
Uniswap, as the leader of DEX, is a rare project in the crypto industry with sustainable high profitability.
With the departure of the SEC chairman, the market shows a highly optimistic expectation for a relaxed future regulatory environment. In this context, the easing of regulatory pressure releases more potential for decentralized platforms and provides good conditions for the expansion of the Uniswap ecosystem, helping the UNI token gradually transform from a single governance token to a core asset with multiple functions such as governance, yield capture, and ecological empowerment.
