Hello everyone, I am Ali, from Wujie Club. Wujie Club is a crypto community club focusing on primary projects, secondary transactions, airdrop tutorials and on-chain capture. The club provides market analysis, trading strategies, the latest airdrop information and project investment opportunities, and is committed to helping club members obtain comprehensive information in the Crypto field.
1
Crypto market downturn, rebound is imminent
The recent cryptocurrency market has shown a clear downturn, with altcoins continuing to fall and Bitcoin stagnating. The market is down based on the current market environment and multiple factors, such as the potential launch of the Ethereum ETF, preparations for the presidential election, and potential interest rate cuts. But the deleveraging phase of cryptocurrencies may not last too long, which may mean that the market downturn will not last long. JPMorgan Chase strategist Nikolaos Panigirtzoglou's team pointed out that given that crypto entities with good asset conditions are stepping in to help curb further declines in cryptocurrencies, and venture capital is still proceeding at a healthy pace, the current deleveraging cycle may not be long.
Secondly, Bitcoin falls to a cyclical low every 90 weeks, and it is expected that based on the comprehensive data of this cycle, the low should appear soon. In addition, it is worth noting that there may be a large-scale capital rotation in the altcoin market in this round, which may bring some vitality to the market. With the change of Bitcoin's price trajectory, the altcoin market may see a 100% rebound in the next few weeks.
2
Bitcoin plunges, whale-level transactions decrease
Bitcoin transactions worth $100,000 or more have dropped significantly over the past two days. Meanwhile, Bitcoin has retreated back below $63,000. As the leader of the cryptocurrency market, BTC's price changes have a significant guiding effect on the entire market. When the price of Bitcoin falls below a key psychological price level such as 63𝐾, it often triggers panic and uncertainty among market participants, leading to violent fluctuations in trading volume.
The trading behavior of whale traders (large investors) has significant influence in the market, and their trading decisions can often guide market trends and influence the decisions of other investors. When Bitcoin prices fall below key psychological levels like 63K, a 42% drop in the total number of whale traders' transactions ($100,000 or more) tends to trigger panic and uncertainty among market participants, leading to wild swings in trading volume . This may reflect their pessimism about market prospects. Although volatility and uncertainty are inherent characteristics of the cryptocurrency market, the short-term decline in Bitcoin prices and the reduction in whale trading does not mean that the market will be depressed for a long time.
Today’s recommendations are AVAX and POND.
AVAX
AVAX, or Avalanche, is the native cryptocurrency and native token of the Avalanche network. Its features include high performance, low transaction costs, scalability, and high security, and the Snowman consensus algorithm ensures fast transaction confirmation and network security. AVAX is widely used for transaction fee payments, network governance, stablecoin collateral, and support for various decentralized finance (DeFi) applications on the Avalanche network. AVAX ranks high in the global market capitalization rankings and is listed on multiple mainstream cryptocurrency exchanges such as Poloniex, Binance, Huobi, etc. The current price is $24.64.
POND
POND is a stablecoin developed by Ankr based on the Ethereum blockchain. Its main features include stable value pegged to the US dollar, advanced technology based on Ethereum, commitment to the construction of a decentralized financial ecosystem, and high scalability. Currently, POND occupies a certain position in the global cryptocurrency market, ranking approximately 318th in market capitalization. POND is expected to play a greater role in the field of decentralized finance and blockchain, providing investors with more choices and opportunities. The current price is $0.0187.
Club Recommendation Review
1.【ZK】
zk, although zk encountered resistance from many people after its launch, judging from the fact that both Binance and OKX were launched, zk’s strength is still there. As the most used dapp in L2, the club still sees the strength of zk.
The club chose to let everyone build positions when zk was at 1.89. The highest point was 0.24, an increase of 26%.
2.【arkm】
Regarding arkm’s short-term long strategy, the club recommends making arrangements when the price is around 1.7. The highest price rose to 1.9, an increase of 10%. A 20-fold long order has already made a profit of 95%.
Unbounded Club is a crypto community club focusing on primary projects, secondary transactions, airdrop tutorials and on-chain capture. The club provides market analysis, trading strategies, the latest airdrop information and project investment opportunities, and is committed to helping club members obtain comprehensive information in the Crypto field.
Thank you for reading this. A-li is with you. I wish you a happy life. Good morning, good afternoon, good night, and see you next time. #BTCFOMCWatch #ETHETFsApproved #CertiKvsKraken #Megadrop #BinanceTournament
