Bitcoin maintains 96,000, while altcoin ETFs soar
The bull market is still spreading. Although Bitcoin has risen and fallen, Ethereum has reversed its decline and broken through $3,600. Defi, Layer2 and other sectors have seen a general rise, and the altcoin market has finally begun to rejuvenate. But a few days ago, the situation was quite different. At that time, Bitcoin was close to $100,000, but altcoins were wailing everywhere, and the market was in a state of survival.
The altcoin market is bleak, but Wall Street has started to take notice. Under the unprecedented regulatory benefits, Wall Street has set its sights on altcoin ETFs, which has also given the long-dormant altcoin market a boost in winter.
Just a week ago, Bitcoin continued to break through and hit $99,000, making headlines in major media. In this round of institutional-led bull market, most market participants did not get liquidity overflow, but instead the altcoins they held were constantly sucked away by Bitcoin. Compared with the vigorous bull market propaganda, participants felt that they had a bitter feeling in their hearts.
But recently, the dormant altcoin market seems to have come alive. This morning, Ethereum rose strongly to break through $3,600, and the altcoin sector ushered in a general rise.
When it comes to the reasons for the rise of copycat stocks, in addition to the positive sentiment brought by the bull market, Wall Street has made an indelible contribution, and ETF is the most intuitive presentation.
Have you felt the market turmoil recently?
The emergence of altcoin ETFs has sparked widespread heated discussion, and the inflow of funds from far away has made the market boil. Is the Wild West of crypto ETFs really coming?
The success of the spot Ethereum ETF, coupled with the strong performance of the Solana blockchain’s native cryptocurrency SOL this week, has the cryptocurrency world abuzz about the potential of a Solana spot ETF.
There is naturally information to support the optimism, and the core factor points to the incoming President Trump. Trump's promises on encryption are being actively fulfilled, and changes in the internal and external regulatory environment have given the cryptocurrency industry stronger confidence.
The following are some hot tracks with potential in the current market:
Meme coin track: By the end of 2023, emerging meme coins will perform strongly, and old meme coins such as Pepe and Shiba will also rise significantly. The gameplay of this track is one of the hot spots of market speculation. Pay attention to newly launched meme coins, especially those projects that have entered the big exchanges. These projects are likely to continue to be hyped, and both market makers and investors can make money from them.
AI track: AI-related crypto projects have performed quite strongly in the past year. AI-related currencies have risen sharply in early 2023, and even led to good performance of AI concept stocks in other markets such as A-shares. Recently, AI projects continue to be strong, and AI-related currencies such as FET, WLD, and ARKM are also rising. If AI is combined with other tracks, it may bring greater investment opportunities.
Public chain track: In every bull market, public chains will always perform well. Public chain projects such as SOL, SUI, INJ, etc. have performed well recently, especially those launched in recent years. If you have invested in these projects, you can pay attention to their dynamics. But it should be noted that you should not blindly chase high prices. The public chain market is risky and you should avoid being trapped at high levels.