Rui, the investment manager of HashKey Capital, tweeted that as Bitcoin BTC 0.22% fell from $29,000 to $25,000, the market finally came out of the shock range.
Assuming that $25,000 is the median of this market round ($20,000-30,000), the key points that may affect the market are as follows:
ETF approval is still the biggest variable in the short term, and the results may come out in September-October. If the ETF does not pass, it will further hit the market sentiment. If the ETF passes, the rise back to 30K will also trigger the Fomo effect. It will continue to fluctuate in the short term, waiting for the trend to respond to the news in advance.
In terms of supervision, the statement in June suggested that Binance and the SEC had initially reached a settlement, and that sudden penalties are unlikely in the short term.
At the ETH level, a large number of Layer 2 projects will be launched in the second half of the year, and abstract accounts will be added. If there is no new development at the ecological level, many narratives will be falsified, so the activity on the chain should increase.
After BTC falls, as long as BTC does not continue to fall, BTCD should theoretically increase, and some altcoins will experience price recovery (continuous negative decline + good liquidity).
At this stage, the exchange’s altcoins have a relatively clear method of harvesting contracts through skyrocketing and plummeting, and the contract small Alts market may continue to rotate rapidly. However, the market value of the previously popular altcoins on the chain has been relatively high, and the probability of continuing to skyrocket with the withdrawal of Dazhuang is doubtful.
