To be honest, the steady progress of Bitcoin, continuously reaching new highs, has made it somewhat frustrating that, apart from Bitcoin, everything else is a copycat. The Ethereum exchange rate has been declining for three years from its peak, and those who have been doing ETH/BTC grid trading have essentially wasted this bull market.
From a fundamental perspective, the driving force of the bull market mainly depends on market demand. The core of the last bull market was DeFi, with various infrastructures being built on the Ethereum chain, so the market demand for Ethereum pushed up its price. In this bull market, Wall Street capital is entering the scene, ETFs, and public companies are including Bitcoin in their balance sheets; the external consensus in the cryptocurrency world is solely focused on Bitcoin. The money that buys Bitcoin will not flow to the altcoins; altcoins remain just a way for funds to cut each other in the market.
From a macro perspective, the global economy is currently recovering, and major countries are in a rate-cutting cycle, with the faucet wide open, so funds naturally overflow from high to low. Although the overall size of the cryptocurrency market is not large, there are many opportunities. When the large market moves first, it only takes a bit of capital to drive the small market.
In the continuation of the bull market, Ethereum, as the king of altcoins, has launched ETFs, and there is operational space for the main players. For example, the difficulty of rising by 10% or 20% is not that great. Therefore, it is worth paying attention to low-buy opportunities in the spot market.
For short-term trading, the key is to watch whether Bitcoin truly breaks through. If Bitcoin really breaks through, then looking up to 5000 points or even 10,000 points, such as 110,000 and 115,000, is possible. If Bitcoin experiences a slight pullback within the day and can stabilize at 104,000, then it’s a good opportunity for a low buy. However, if it effectively drops below 104,000, it’s best to exit, because even if there’s a rebound, the target won’t be too high. Overall, the risk-reward ratio is extremely high, making it worth a try.
