Bitcoin is going up and down around the $64,000 mark
Ethereum is even worse off—it’s still grinding back and forth around $1,800.
The market isn’t short of money; it’s just that everyone feels like they’re waiting, and nobody dares to make a move easily.
Right now, the biggest variables are still two: one is the geopolitical situation in the Middle East, and the other is whether the institutions holding Bitcoin are still selling.
On the Trump side, it’s a back-and-forth—talk of negotiations one moment, then tough talk the next. The news cycle keeps flipping, and market sentiment follows suit, surging up and down.
On the other side, Bitcoin treasury companies like MicroStrategy are also trimming holdings and cashing out. That still puts some pressure on the market, to a certain extent.
However, it’s not all bad news. Based on the data, in the past 24 hours, more than $200 million was liquidated. And importantly, shorts were wiped out more than longs, which suggests some people were taking contrarian short positions—and getting educated for it.
More crucially, as Bitcoin’s price has inched up, open interest has also been rising. That indicates new capital is slowly entering the market, not just old players swapping positions with each other.
The stock market on this side is quite strong—Dow, S&P, and Nasdaq have all hit fresh highs.
Under the old logic, when risk assets rise together, the crypto market should perform too.
But the reality is that Bitcoin is still lagging a bit behind the pace, and funds are clearly more cautious.
In plain terms, what the market lacks most right now isn’t a story—it’s truly incremental capital that’s bold enough to rush in.
On-chain data shows that overall sell pressure has already dropped to a historically accumulation-phase level. From historical experience, this kind of area often appears near the end of a bear market. Over the long run, the risk-reward ratio should become more and more comfortable. But that doesn’t mean the bottom has been confirmed.
So calling that a bull market is back at this point, I think it’s still a bit early.
As for Ethereum, some analysts believe that as long as it can hold above $1,800, there’s a chance to break through $2,000—and even see $2,300. I think this move isn’t impossible, but the prerequisite is that market sentiment needs to cooperate. If Bitcoin keeps ranging, and Ethereum tries to run independently into a bull phase, that’s actually not easy.
Making money is nerve-wracking—so hard.
The problem is not only is it nerve-wracking, it still doesn’t make money. That’s even harder~!
$BTC $ETH
Ethereum is even worse off—it’s still grinding back and forth around $1,800.
The market isn’t short of money; it’s just that everyone feels like they’re waiting, and nobody dares to make a move easily.
Right now, the biggest variables are still two: one is the geopolitical situation in the Middle East, and the other is whether the institutions holding Bitcoin are still selling.
On the Trump side, it’s a back-and-forth—talk of negotiations one moment, then tough talk the next. The news cycle keeps flipping, and market sentiment follows suit, surging up and down.
On the other side, Bitcoin treasury companies like MicroStrategy are also trimming holdings and cashing out. That still puts some pressure on the market, to a certain extent.
However, it’s not all bad news. Based on the data, in the past 24 hours, more than $200 million was liquidated. And importantly, shorts were wiped out more than longs, which suggests some people were taking contrarian short positions—and getting educated for it.
More crucially, as Bitcoin’s price has inched up, open interest has also been rising. That indicates new capital is slowly entering the market, not just old players swapping positions with each other.
The stock market on this side is quite strong—Dow, S&P, and Nasdaq have all hit fresh highs.
Under the old logic, when risk assets rise together, the crypto market should perform too.
But the reality is that Bitcoin is still lagging a bit behind the pace, and funds are clearly more cautious.
In plain terms, what the market lacks most right now isn’t a story—it’s truly incremental capital that’s bold enough to rush in.
On-chain data shows that overall sell pressure has already dropped to a historically accumulation-phase level. From historical experience, this kind of area often appears near the end of a bear market. Over the long run, the risk-reward ratio should become more and more comfortable. But that doesn’t mean the bottom has been confirmed.
So calling that a bull market is back at this point, I think it’s still a bit early.
As for Ethereum, some analysts believe that as long as it can hold above $1,800, there’s a chance to break through $2,000—and even see $2,300. I think this move isn’t impossible, but the prerequisite is that market sentiment needs to cooperate. If Bitcoin keeps ranging, and Ethereum tries to run independently into a bull phase, that’s actually not easy.
Making money is nerve-wracking—so hard.
The problem is not only is it nerve-wracking, it still doesn’t make money. That’s even harder~!
$BTC $ETH