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Another bloodbath? Can Bitcoin hold 100,000? Just as MASK cooled down, HMSTR collapsed! Can DOGE and SHIB break through? ZK soared 472%, Base continued to exert its strength! EGL1 quietly exploded and surged by 30 million?

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Is the rebound near its end? Will Bitcoin fail to hold 100,000?

BTC at 106,800 remains unbroken, with shorts still solid. Currently at 106,400, it lured buyers then scaled back with low liquidity, making 109,000 difficult to reach. The recent 1-hour candlestick engulfed, signaling a clear bearish signal. Doge first washed out shorts then lured buyers, with potential dual killing of both bulls and bears ahead.

Recently, the secondary market has been bleak, with many losing interest, only focusing on primary market opportunities:

  • Core focus on USD1 ecosystem, key projects: $CA, $Janitor, $EGL1, $BULLA, $Ana, $BC, $BTE
  • $CA previously generated profits, currently price has fallen, but winning is confirmed, with significant future potential.
  • $Janitor and $EGL1 are heavily controlled, with high-level pullback after rising, making it difficult for retail investors to profit.
  • $BULLA has high heat but continues to decline without reversal.
  • $Ana and $BC offer retail investor profit opportunities, but rely on KOL promotion, which is unsustainable.

Currently, no phenomenal meme project exists, but market enthusiasm continues to rise. If a BSC leading project emerges, it could unify traffic, shed the "conspiracy chain" label, and help BSC move towards mainstream.

Market hotspot tracking:

  1. Base chain: kta, mamo, giza, aaa all surged. Leading KTA rose over 200 times, with market value reaching $1.6 billion, with funds shifting from Solana to Base, supported by Base foundation.
  2. TON chain: NFT trading volume exceeded Ethereum, plush pepe rose over 300 times, TON positioning as "QQ show + Yuebao + e-commerce" with clear strategy.
  3. Avalanche chain: meme project ket reached new high, market value breaking $600 million, with launch platform arena gathering massive token issuance.

Conclusion: BTC remains range-bound, Altcoins may rise, key depends on whether a chain-level leading project can break out.

The current secondary market seems to be taking turns hitting bottom: MASK the day before yesterday, DEXE yesterday, today HMSTR - will it need another "wash" before a true bull market? Or is this volatility far from over?

Many recently asked me about market direction. My view is clear: Currently directionless, in a high-level oscillation zone, the rebound is just luring buyers, with a potential massive crash brewing. Although bulls seem strong on the surface with rapid rebound, major players are actually selling. Data shows capital outflow, market lacks positive support, and exhausted positive news becomes the biggest negative. The current sideways movement appears to be preparing for a new round of decline.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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