crypto equity, altcoin season. Photo by BeInCrypto While cryptocurrency enthusiasts await a traditional ‘altcoin season’ characterized by surging prices in alternative tokens beyond Bitcoin (BTC), an expert argues that the phenomenon is already underway.  However, this time it's not in digital assets but in publicly traded companies tied to the crypto ecosystem. This shift reflects growing institutional interest, spurred by regulatory approvals and enhanced accessibility, positioning crypto equities as th ...

周一，加密货币市场遭遇大规模清算，超过15亿美元的多头头寸被强制平仓，引发近一个月来最严重的闪崩。此次暴跌主要由过度杠杆和近期山 寨币过热引发，其中以太坊受创最重，近5亿美元杠杆多头头寸被抹去。技术指标显示市场已进入超卖状态，分析师认为这是对前期市场狂热情 绪的修正，也标志着短暂的"山寨币季节"告一段落。 周一，加密货币市场遭遇大规模清算，超过15亿美元的多头头寸被强制平仓，引发了近一个月来最严重的闪崩行情。 根据Coinglass的数据，在过去24小时内，超过40.7万名交易员被强制平仓，看涨押注的平仓总额一度超过15亿美元。以太坊受创最重，价格一 度暴跌9%至4075美元，近5亿美元的杠杆多头头寸被抹去。比特币也未能幸免，下跌近3%至111998美元。美股盘前基准股指下挫，科技股普 跌。 在这场抛售中，以太坊和各类山寨币的跌幅远超比特币。周一，当比特币兑美元汇率下跌约2.5%时， 以太坊的跌幅超过6%。以太坊相对于比 特币的汇率（ETH/BTC）也突然跌至0.037，创下一个月来的新低。 市场分析师认为， 此次暴跌主要由过度杠杆和山寨币涨势过热引发的连强制平仓所致。清算和追加保证金通知触发自动卖单，加速了 ...

Core Viewpoint - The cryptocurrency market experienced a significant liquidation event, with over $1.5 billion in long positions being forcibly closed, leading to the most severe flash crash in nearly a month [1][9]. Market Overview - Over 407,000 traders were liquidated in the past 24 hours, with Ethereum suffering the most, dropping 9% to $4,075, erasing nearly $500 million in leveraged long positions [1][5]. - Bitcoin also faced a decline of nearly 3%, falling to approximately $111,998 [1][2]. - The total market capitalization of digital assets fell below $4 trillion due to this chain reaction of liquidations [1]. Triggering Factors - The crash was primarily attributed to excessive leverage and overheated altcoin rallies, which triggered a series of forced liquidations [1][9]. - The liquidation amount reached $442 million in the past 24 hours, marking the highest level since August 29 [1][4]. Technical Indicators - Technical indicators showed an oversold condition, with Ethereum and various altcoins experiencing declines greater than Bitcoin [5][8]. - The relative strength index fell below 20 during the downturn, indicating the severity of the sell-off driven by forced liquidations rather than organic selling [8]. Market Sentiment - Analysts noted that the recent downturn is viewed as a correction of the previous market euphoria, particularly following the demand from companies adopting cryptocurrencies as treasury reserves [9]. - The current pullback is considered within the normal volatility range of the crypto market, with historical "altcoin seasons" typically being short-lived [9]. Market Positioning - Bitcoin's market dominance has risen to 56.2%, while Ethereum's dominance has decreased to 12.8% [8].

加密货币市场在过去 24 小时内上涨 0.97%，延续了 7 天的上涨趋势（+3.56%）。这一走势与机构 ETF 资金流入激增、美联储降息预期以及投资者转向山 寨币的风险偏好情绪相一致。 1.比特币（BTC） 比特币当前价格为$116,599.96，过去24小时内上涨 0.07 %，近7天上涨 2.36 %。24小时成交量达 643 亿美元，流通供应量为 1,991 万 BTC，当前市值为 2.32 万亿美元。 2.以太坊（ETH） 以太坊当前价格为$4608.95，过去24小时内上涨 2.20 % ，近7日上涨 5.48 %。24小时交易量为 486.7 亿美元，流通供应量为 1.207 亿ETH，总市值为 5564.8 亿美元。 最近24小时，全球共有 114630人被爆仓 ，爆仓总金额为 3.50亿美元，其中多单爆仓1.88亿美元，空单爆仓1.62亿美元。 1. ETF 流入量激增——本周比特币/ETH ETF 分别增加了 6.42 亿美元和 4.05 亿美元。 2. 降息乐观情绪——市场预期美联储将从 9 月 17 日起降息 25-50 个基点。 3. 山寨币季节动量——山寨币季节指数达到 72（每 ...

Group 1 - The memecoin sector is experiencing growth as altcoin season discussions increase, driven by expectations of an interest rate cut by the Federal Reserve, which benefits risk assets [1][4] - Bitcoin's market dominance has decreased by 3.5% over the past month, leading to altcoin season indexes entering "altseason" territory, indicating a shift in capital from Bitcoin to altcoins [1][2] - The CoinDesk Memecoin Index (CDMEME) has risen by 7.1% in the last 24 hours, while Bitcoin only increased by 0.3%, highlighting the outperformance of altcoins [2][3] Group 2 - Tokens like SHIB and BONE have contributed to the rise in the CDMEME index, despite recent issues with Shiba Inu's layer-2 network, indicating a growing risk appetite among investors [3] - Traders predict a 92% chance of a 25 basis point interest rate cut by the Federal Reserve this month, which is expected to further enhance the appeal of riskier assets like altcoins [4] - A wave of altcoin exchange-traded funds (ETFs) is anticipated to enter U.S. markets in the last quarter of the year, potentially attracting more retail and institutional investors to the altcoin space [4][5]

Core Viewpoint - Federal Reserve Chairman Jerome Powell's remarks have significantly increased market expectations for a rate cut in September, reshaping the pricing logic of global risk assets, with cryptocurrencies acting as a sensitive "macro barometer" [1][3] Market Reaction - Following Powell's speech, Bitcoin initially surged above $117,000 but quickly retreated below $110,000, indicating a complex interaction between macro and micro market sentiments [3] - The long-term trajectory of the cryptocurrency market remains dependent on deeper macroeconomic factors, with persistent inflation potentially limiting the extent of rate cuts and thus weakening the upward momentum of risk assets [3] Fund Flows and Investment Trends - Recent data shows a significant outflow from cryptocurrency investment products, exceeding $1.4 billion, the highest weekly outflow since March, although there was a recovery post-Powell's remarks, particularly in Ethereum-related products [4] - Bitcoin's status as "digital gold" remains, but Ethereum is gaining traction due to its active ecosystem and higher volatility, making it a more attractive option under liquidity expansion expectations [4] Price Predictions - ZX Squared Capital's co-founder predicts Bitcoin's year-end target price to be between $125,000 and $150,000, indicating a potential upside of 15%-35%, while Ethereum's target is set at $6,000-$7,000 [5] - The early signs of a "altcoin season" are emerging, with a shift in focus towards small-cap tokens as liquidity expands [5] Short-term and Long-term Outlook - In the short term (September-October), attention should be on the Federal Reserve's decision on September 17; a 25 basis point cut could lead Bitcoin to retest the $120,000 resistance level [6] - In the medium to long term, the stablecoin market is projected to grow tenfold over the next few years, indicating a maturation of the cryptocurrency market infrastructure and a potential decline in Bitcoin's dominance [6] Strategic Considerations - Investors are advised to adopt a strategy that aligns with macroeconomic trends (rate cut paths, inflation trends) and micro signals (fund flows, asset rotation) rather than simply chasing price movements [8] - XBIT's decentralized exchange platform offers a non-custodial model, allowing users to control their private keys and manage funds through smart contracts, enhancing security and facilitating cross-chain trading [8]

Group 1 - The expectation of a Federal Reserve interest rate cut is rising, leading to a significant surge in the altcoin market, with Ethereum reaching a historical high of $4,887 and a 24-hour increase of 14% [1][4] - The total market capitalization of altcoins has grown over 50% since early July, reaching $1.4 trillion, while Bitcoin's market dominance has decreased from 65% in May to 59% in August [6] - Analysts suggest that the current market environment indicates a structural bull market rather than a uniform rise, emphasizing the importance of selecting high-quality projects with long-term value [9] Group 2 - The probability of a 25 basis point rate cut by the Federal Reserve in September is now at 83.6%, with analysts interpreting recent comments from Powell as a shift towards supporting the labor market [2] - Ethereum's market capitalization has surpassed $586 billion, placing it among the top 25 global tech companies, exceeding well-known firms like Mastercard and Netflix [4] - The XBIT decentralized exchange platform offers unique advantages for users, including no KYC verification and complete control over private keys, enhancing user privacy and security [8]

Group 1 - Bitcoin has surged past $116,500 with a 48% increase in 24-hour trading volume, indicating strong market momentum [2] - Whale addresses have accumulated over 23,000 BTC in the past week, with institutional holdings reaching a yearly high [2] - The derivatives market has seen open interest surpassing $38 billion, with market sentiment entering the "extreme greed" zone [2] Group 2 - The approval of the first batch of virtual asset spot ETFs by the Hong Kong Securities and Futures Commission marks a significant regulatory development [3] - Ethereum Layer 2 total locked value has exceeded $45 billion, reflecting growing interest in scaling solutions [3] - AI and blockchain project financing in Q2 has increased by 215% quarter-over-quarter, indicating a surge in innovation [3] Group 3 - Historical data suggests a three-phase bull market progression: Bitcoin's initial surge, followed by mainstream coins, and finally an explosion of quality altcoins [3] - Current market selection criteria for alpha projects include a market cap between $1-5 billion, daily trading volume above $30 million, real revenue scenarios, and institutional holdings exceeding 15% [3] Group 4 - DHP is highlighted as a standout project in the Real World Asset (RWA) sector, with a unique value proposition and strong community engagement [3] - The project has achieved a 67% repurchase rate for physical products and has integrated with 12 DEXs and 8 DeFi protocols [3] - The first round of node subscription is set from July 12 to July 22, with a projected annual return of 20% and a static payback period of approximately 8 months [3] Group 5 - The market outlook suggests that with the onset of Federal Reserve easing, the crypto market is entering an optimal configuration period not seen in three years [4] - DHP's dual-driven model of "physical + digital" is expected to facilitate significant growth in the upcoming bull market [4] - Investors are advised to closely monitor the first round of node subscriptions starting July 12 for early participation benefits [4]

Core Insights - The cryptocurrency market is regaining investor attention, with Bitcoin's price stabilizing around $105,000 after a brief dip, indicating a cautious optimism towards the Federal Reserve's monetary policy [1][4] - Bitcoin's dominance (BTC.D) remains a critical indicator for market analysis, suggesting that as long as it stays above the bull market support zone, altcoin season is unlikely to occur [2][3] Group 1: Bitcoin Price and Market Dynamics - Bitcoin's recent price showed resilience, bouncing back from a low of $103,600 to around $104,800, reflecting a 0.5% increase [1] - The stability in interest rates by the Federal Reserve is providing support for risk assets, including Bitcoin, which is viewed as a hybrid of "digital gold" and risk asset [1][4] Group 2: Bitcoin Dominance Analysis - BTC.D is defined as Bitcoin's market capitalization relative to the total cryptocurrency market, and it is crucial for understanding Bitcoin's performance against altcoins [2] - Historical data shows that BTC.D has experienced fluctuations but has rebounded from key support levels, indicating a strong relative position for Bitcoin in the market [2][3] Group 3: Market Sentiment and Future Projections - Analysts express differing views on BTC.D's future, with some optimistic about its strength while others warn of a potential decline, suggesting that BTC.D could drop before any altcoin season emerges [3][4] - The potential for a double top formation in BTC.D could lead to a shift of funds from Bitcoin to altcoins if it fails to break current resistance levels [4] Group 4: External Influences on the Market - The Federal Reserve's interest rate policy significantly impacts the cryptocurrency market, providing short-term support for risk assets but potentially delaying further market increases [4] - Global regulatory changes, institutional investor participation, and macroeconomic indicators like inflation and employment data will also influence BTC.D and altcoin performance [4]

Current Price Trends - Bitcoin has recently surpassed the psychological threshold of $100,000, currently trading at approximately $103,185, with a 24-hour increase of about 1.89% [4] - Ethereum has experienced a significant surge, currently priced at around $2,337, reflecting a 19.35% increase in the last 24 hours [4] Market Sentiment and On-Chain Signals - The Fear and Greed Index has risen to 73, indicating a state of "Greed" and reflecting heightened market optimism [4][6] - A substantial number of short positions were liquidated, with nearly 200,000 liquidations amounting to $933 million, further fueling Bitcoin's upward momentum [4] Operational Strategies - For Bitcoin, it is advised to wait for stabilization in the $101,000-$102,000 range before entering, with primary targets set at $105,000, $107,000, and a final target of $110,000 [4] - For Ethereum, entry is recommended above $2,300 with a target of $2,500, and a stop-loss set below $2,200 [9] Historical Breakthroughs - Bitcoin's recent price action marks a historic breakthrough, with the total market capitalization of cryptocurrencies exceeding $3 trillion and Bitcoin's market share reaching 65%, the highest since January 2021 [6][9] Technical Analysis - Bitcoin's RSI is at approximately 58.7, indicating a buying zone but not yet overbought, while MACD shows strong bullish momentum [4] - Ethereum's technical indicators suggest a continuation of the upward trend, although a short-term adjustment may be necessary to digest recent gains [5][9] Institutional Interest - Institutional interest in Bitcoin remains strong, with a net inflow of $117 million into Bitcoin spot ETFs, while Ethereum ETFs have seen a slight outflow of $16.11 million [4][9] - The successful implementation of the Pectra upgrade on Ethereum is expected to enhance the network's capabilities and attract more institutional investment [9] Market Catalysts and Signals - The successful Pectra upgrade has introduced significant improvements to Ethereum's Layer 2 network, potentially increasing its ecosystem's activity [9] - The current market dynamics suggest a potential shift towards altcoins, indicating the beginning of an "altcoin season" following Bitcoin's stabilization at new highs [6][9]