1. Strategy Review: Strong Rise of Multiple Cryptocurrencies
Conveying the trading philosophy, enjoying a wise life. Recently, several cryptocurrencies have performed remarkably in the market, showcasing its vitality and potential.
IP: Undoubtedly the star cryptocurrency during this period, it skyrocketed from our focus price of $1.66 to a peak of $8.96, with an increase of 439%, becoming the biggest dark horse of this issue. Its astonishing rise has attracted the attention of numerous investors and injected a strong boost into the market.
S: Entering at $0.57, it surged to a high of $0.90, marking an increase of 58%. The strong upward momentum has made it a focal point for investors, demonstrating good potential for investment returns.
BEAR: Starting from $6.5, it climbed to a high of $9.1, achieving a 40% increase. The steady upward pace has yielded substantial returns for investors holding this cryptocurrency, highlighting its unique value in the market.
MKR: As a leader in the lending sector, it rose from $1100 to $1480, with a 35% increase. Its leading position in the lending space, combined with a significant price rise, has attracted many investors to position themselves.
SEI: Increased from $0.23 to $0.27, a rise of 17%. Although the increase is relatively small, it has steadily progressed amidst market fluctuations, providing certain returns for investors.
ACH: Rose from $0.033 to $0.040, an increase of 21%. This upward trend seems to be continuing, with cryptocurrencies related to the AI sector showing strong upward momentum, likely to continue climbing.
2. Fundamental Analysis
Whale Accumulation and Bitcoin ETF Outflows:
From on-chain data, the accumulation by the top 100 whales is not significant, with only 53 bitcoins added yesterday, which has led to Bitcoin prices not experiencing a substantial rise, indicating limited accumulation strength from whales.
At the same time, Bitcoin ETFs saw outflows of $165 million yesterday and the day before. The recent repeated net outflows from Bitcoin ETFs clearly indicate that the market is not optimistic about the short to medium-term price trends of Bitcoin.
Speculation on Stablecoin Flows:
Yesterday, $800 million in stablecoins flowed onto Binance from the Ethereum chain, along with $1 billion in stablecoins minted on the TRX chain on February 5. The destination of these large amounts of stablecoins is under close scrutiny.
Currently, Bitcoin and Ethereum prices have not significantly risen, but the market value recovery has begun, so these stablecoins are likely flowing into value cryptocurrencies, driving adjustments in the market value structure.
3. Technical Analysis of Price Trends
Bitcoin: On the weekly chart, Bitcoin has been consolidating and oscillating around $91,200 (the middle band of the Bollinger Bands), consistently failing to break the middle band of the weekly Bollinger Bands. The price action at this level is very similar to last April when Bitcoin touched the middle band of the Bollinger Bands, rebounding to form a double top, and eventually falling back, creating an overall ascending flag structure.
The current market finds it difficult to confirm whether Bitcoin will repeat this pattern, either continuing to rise to form a double top or triple top before breaking down. However, it can be confirmed that the probability of Bitcoin reaching new highs in the short to medium term is extremely low.
Therefore, when Bitcoin rises to around $110,000, attention should be paid to reducing heavy positions to avoid risks.
From the daily chart perspective, Bitcoin broke through the middle band of the Bollinger Bands yesterday, accompanied by a certain volume, which is a positive signal. The next key support level to watch is the middle band at $97,143; as long as this level holds, Bitcoin has the potential for further upward movement, which will also provide good opportunities for reducing positions.
Ethereum: In terms of price movement, Ethereum still failed to break through $2,800 yesterday, which seems to have become a curse for Ethereum's price increase. Due to Ethereum's price not rising, market funds have mainly been moving in the AI sector, driving up related cryptocurrencies, such as the lending leader MKR, which saw a 35% increase.
IP: The price level we are focusing on is between $1.85 - $1.66; it surged to $8.96 yesterday, marking an increase of 4 - 5 times, making it a "monster coin." However, some investors faced significant losses due to shorting this cryptocurrency, warning that some coins exhibit extreme volatility and should not be easily shorted.
S: Its predecessor was FTM, and after entering at $0.57, it continuously rose by 24% and 28%, with an overall increase of 50%, peaking at $0.899. After reaching a new high, S is likely to continue a strong trend, showing a pattern of rising volume and price, and investors should pay further attention, considering entry at $0.82.
BERA: It surged by 40% yesterday, with our focus point at $6.6. This token is currently operating within a channel, and the 4-hour level has opened up upward space, with the next target being $11.6. If there is an opportunity to pull back to $6.6 or around $7, investors may consider re-entering.
MKR: On the daily level, it surged by 27% yesterday, successfully breaking through the middle band of the Bollinger Bands and moving upward, opening up an upward funnel pattern. The next target is $1,800, and when it reaches this position, it will face strong resistance from the trend line, so short-term investors may take profits at this level. Notably, MKR has been increasing in volume at the bottom, showing a pattern of rising volume and price, indicating further upward potential.
SEI: Belonging to a layer network, it was mainly driven by a financial fund under Trump purchasing $125,000 worth of SEI, which led to an upward breakout yesterday, with significant volume when breaking through the middle band of the Bollinger Bands. Therefore, if it pulls back to $0.2510, it may be a good entry point.
ACH: Yesterday, the price broke through the middle band of the Bollinger Bands, and after a pullback, it surged again by 20%, with the next target at $0.052. This shows its active performance and upward potential in the market.
Overall, funds have shifted to Binance or other exchanges, primarily driving the return of mainstream value cryptocurrencies or value coins. The previously popular meme series tokens have seen a decline in interest recently. If you hold related positions, it is advisable to rotate into value-returning cryptocurrencies in a timely manner.
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