On the first day of the congressional hearing on monetary policy, Federal Reserve Chairman Powell reiterated that the labor market is solid, inflation remains above the 2% target, and there is no rush to cut interest rates. The likelihood of a rate cut in June by the Federal Reserve has further diminished, and the cryptocurrency market continues to remain sluggish under its influence.
The supply of stablecoins has been increasing, but BTC has not shown a corresponding rise, still hovering below $100,000.
Historically, most Februarys have ended with gains, especially during bull markets. Now that February is nearly half over, BTC remains in a downtrend. In this cycle, every time BTC experiences a slight pullback, the altcoin market encounters a catastrophic decline. If BTC cannot rebound and surpass $100,000 by the end of the month, the situation in the altcoin market may further deteriorate.
Now everyone is mocking ETH, but I still have confidence in ETH's future trends. The arrival of altcoin season requires ETH; without BTC's rise, there will be no bull market, and similarly, without ETH's rise, there will be no altcoin season. Without the wealth creation myths of altcoin season, it will be impossible to attract a large number of new users. Relying solely on imitating ETH's existing ecosystem without any innovation, SOL's rise is merely a battle among existing users, at most, as seen now, where only a few coins can keep up with BTC, while the majority of other coins languish. I believe in the vitality of the crypto space, I believe 2025 will be a year of explosive bull markets, and I believe there will still be an altcoin season in this cycle, so I also believe that ETH's spring will eventually come. 🥳
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