10 Bitcoin catalysts: a no-brainer bullish move
With Bitcoin back above $60,000 and the Crypto Fear and Greed Index returning to the greed level, the market seems to be getting better.
1. The German government has sold all its Bitcoins: The German government’s wallet has been emptied. This means that the potential selling pressure is reduced and the price has more room to rise.
2. Bitcoin ETF funds continue to flow in: Many people underestimate the long-term influence of Bitcoin ETF, which provides strong passive buying for the market and has seen net inflows for 9 consecutive days recently.
3. US election: After the shooting, Trump’s chances of being elected have soared, and his support for the cryptocurrency industry will be beneficial to the market.
4. Trump attends the Bitcoin Summit: After the shooting, Trump still promised to attend the summit, which strengthened his support for Bitcoin and his influence cannot be underestimated.
5. FTX is ready to repay creditors: The bankrupt exchange FTX is expected to start cash or stablecoin compensation this year. The market expects that some funds will re-enter the market, bringing new buying demand.
6. Global liquidity cycle: Bitcoin is highly correlated with global liquidity. Based on past cycle changes, liquidity is expected to peak in 2025.
7. Ethereum spot ETF may be launched: If successfully launched, it will become the first ETF for an Altcoin project, which will increase the legitimacy of cryptocurrency.
8. Goldman Sachs launches three tokenization projects: The well-known investment bank founded in 1869 joins the real world asset (RWA) track, which represents the gradual increase in institutional participation and will be beneficial to currencies such as Ethereum (ETH).
9. Expectations of interest rate cuts: CME Fed Monitor shows that the market expects the probability of the US Federal Reserve cutting interest rates in September to be about 90%. ING even predicts that under the influence of weak employment and economic data, the Federal Reserve may cut interest rates three times this year.
10. Market Foresight: Cryptocurrency is an asset that is quite sensitive to forward-looking events, so the positive buying brought about by the rising market sentiment can itself lead to a sharp rebound. It is expected that the market will follow the trend in the next few months.
Every time the market falls, I encourage everyone, especially those chips bought at low prices. Do not throw them away easily, because if you throw them away, you may not be able to get them back at that price.
As for the biggest negative factor in the market right now, when will the Mentougou coins crash? Previous articles "Mentougou encounters Ethereum ETF, can the market still crash?" and "Dezi's Bitcoin has been sold out, is Mentougou next? Analyze the impact on the market", both detailed the impact of Mentougou's coin sales on the market, and they are also very detailed. You can go and have a look.
Even in the extreme case of a one-time sell-off by Mentougou (assuming that Mentougou sells 30%), which may cause BTC to fall 10.5% in the short term, the market can eventually absorb the selling pressure. Moreover, the probability of a one-time sell-off is almost zero. From the sell-off to now, everyone can see that it is a phased sell-off and will be absorbed by the market.
In short, don't panic. If you have money, wait for a correction or a big drop to continue hoarding big cakes. If you don't have money, just lie down. Long-term factors still depend on the Fed's policy, how and when to cut interest rates, so long-term players don't need to worry too much about short-term fluctuations.
Later, I will bring you analysis of leading projects in other tracks. If you are interested, you can click to follow. I will also organize some cutting-edge consulting and project reviews from time to time. Welcome all like-minded people in the cryptocurrency circle to explore together.
