Yesterday, Bitcoin broke through a new high again, reaching a peak of $77,200.
Ethereum reached a peak of $2,995, just one step away from $3,000.
Altcoins are also starting to stir, showing signs of an impending breakout.
With Trump in office and the Federal Reserve's second interest rate cut, the market's risk appetite has also begun to increase.
Many people are betting that there will be an altcoin season in the fourth quarter of this year and the first quarter of next year, so investment in altcoins has also started to increase.
But it should be noted that the next two days are the weekend, and institutions will not be working.
Market liquidity will also decrease, and people's emotions may gradually calm down.
Next Monday is also Memorial Day in the United States, meaning there will be a three-day holiday.
When market trading volume is low, prices are prone to extreme fluctuations. Those who enjoy trading low-quality coins and contracts should be cautious and consider taking profits.
Some friends asked, how much will Ethereum rise in this round of the bull market?
I think a conservative estimate could rise to $6,000 to $8,000.
If the market experiences FOMO, a large influx of funds into Ethereum could even potentially break through $10,000.
In the context of global quantitative easing, the Federal Reserve's loose monetary policy will lead to more funds flowing into the crypto market, which will also drive up the price of Ethereum.
Furthermore, the technological improvements brought about by Ethereum's upgrades will also increase market demand for ETH, further driving up its price.
Additionally, we cannot ignore the power of the Ethereum spot ETF.
From the recent Ethereum spot ETF data, American investors are also experiencing FOMO towards Ethereum.
Yesterday alone, 23,558 ETH were added.
In the ETH spot ETF, Fidelity is the main buyer, increasing its holdings by 10,000 ETH.
Following that is Grayscale's Mini ETF, which increased its holdings by 9,423 ETH.
Bitwise and Invesco also each increased their holdings by over 2,000 ETH, with overall purchasing power on the rise.
This indicates that American investors not only have a strong buying interest in Bitcoin but are also increasing their holdings in Ethereum.
This may be because American investors have begun to anticipate that Trump's return to power will be beneficial for the crypto market, especially with the high probability of the Ethereum staking ETF being approved.
If Ethereum can initiate staking for the spot ETF, the purchasing power and holdings of the ETF may surpass the spot itself, which would be a major boon for Ethereum.
Nansen analyst Wilson also believes that Trump's election may accelerate the listing of the first staking Ethereum ETF.
I believe that large institutions and smart money won't just casually create a spot ETF; it's likely to absorb the extra funds in the market.
Once a large amount of funds flows into Ethereum, the market supply and demand relationship will be disrupted, and the price of ETH will rise again.
Let's take a look at the latest data on Bitcoin.
From the exchange's data:
The Bitcoin held by exchanges is about 2,964,000, almost reaching the lowest point in the past six months.
In the past 155 days, the total number of Bitcoin traded in the market has been 2,807,000, with 1,936,000 priced between $65,000 and $75,000.
Currently, if an additional 1 million Bitcoin are purchased, there will be a significant liquidity crunch in the market.
Currently, the Bitcoin held by American spot ETFs is about 1,002,000, while the global spot ETF holdings, including all statistics, are about 1,073,000.
According to this trend, by early 2026, the number of Bitcoin participating in trading in the secondary market may be less than 1 million.
The exchange's inventory may also be below 1.5 million, with more than 90% of Bitcoin no longer participating in market transactions.
The trend is now clear that Bitcoin's supply is not keeping up with the increase in demand, which is one of the reasons for Bitcoin's recent strong rise.
From the data of the spot ETF:
In the past 24 hours, the Bitcoin spot ETF has increased its holdings by a total of 14,607 Bitcoin.
In addition to BlackRock, six other ETF institutions also increased their holdings by 19,692 Bitcoin.
This shows the expectations of American investors regarding Trump's potential return to power. If this trend continues, Bitcoin is likely to surpass $100,000 by the end of the year.
Overall, with Trump in office, the market generally expects favorable conditions for the crypto industry, combined with his loose monetary policy, which is very beneficial for the bull market in 2025.
Next, as long as no black swan events occur, the fourth quarter of this year and the first quarter of next year are likely to be on an upward trend.
