Bitcoin (BTC) market cap crushes Google, soaring into the global top 5! Total market cap breaks 4.2 trillion, interest rate cuts + giant financing add fuel to the fire, altcoin rotation is going crazy.

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  • Bitcoin Market Value Soars
    The total market value of Bitcoin has surpassed Google, ranking fifth in the global asset market value list, while the total market value of cryptocurrencies worldwide has exceeded $4.2 trillion, highlighting the market recognition of digital assets.

  • Federal Reserve Rate Cut Expectations Heat Up
    Chicago Fed President Goolsbee pointed out that if the job market shows significant downturn, a rate cut will have to be considered; once inflation is confirmed to be steadily approaching the 2% target range, an early rate cut is also entirely feasible.

  • Block's Large-Scale Financing Sends Signals
    Payment technology company Block announced it will issue $2.2 billion in senior bonds, higher than the previously planned $1.5 billion. Block has long integrated BTC trading functions into its Cash App platform and has repeatedly disclosed a high proportion of Bitcoin-related revenue in its financial reports. As a representative of the integration of Web2 and Web3 payments, the successful financing of such companies indicates that the industry recognition and growth potential of crypto payments and settlement businesses are further increasing, which may stimulate the inflow of funds into BTC and related ecosystem tokens (inscriptions, public chains, payment sectors) in the short term. Technical Analysis

BTC
After stabilizing around 112K at the beginning of this month, Bitcoin has entered a new upward trend and has set a new historical high. For investors still holding bearish expectations, this trend is sufficient to demonstrate its strength. The short-term target remains around 135K, while market speculation about 150K to 200K depends on the Federal Reserve's monetary policy. The daily chart has once again shown a large bullish candle and created a new historical high. Based on this year's multiple upward trends, new highs typically have an additional upward space of about 10,000 points, so viewing 135K in this round remains a reasonable speculation. The MACD golden cross is diverging upwards, and the histogram continues to expand, indicating strong momentum. However, yesterday's significant surge left a gap in the daily technical structure, and a pullback of about 3,000 points should be guarded against. On the 4-hour cycle, there was continuous volume increase during the US trading session, with a high in the morning followed by a long upper shadow, indicating a potential retest of the 122K area. For short-term operations, focus on support buying opportunities in the 122K-121K range, with resistance noted around 124K-125K.

ETH
At the beginning of the week, Ethereum was expected to challenge $4,800, and within just four days, this has largely been realized. After consolidating in the 4150 area for two days, the price surged significantly for two consecutive days, about to hit a new historical high. The moving averages below are in a standard bullish arrangement with an expanding slope, indicating accelerating upward momentum; trading volume has recently remained above the average line, showing that funds are actively driving the market. However, although yesterday's volume reached a new high for the phase, the price increase has narrowed, indicating that short-term profit-taking is beginning. If a large bearish candle with a long upper shadow appears, attention should be paid to the risk of a pullback. On the 4-hour cycle, after breaking through the previous high with volume during the US trading session on Tuesday, the price has continued to rise, but the increase is gradually converging, also reflecting signs of some chips being cashed in. However, the overall bullish judgment remains unchanged. The important defense area below is at $4,600-$4,570, with attention on buying opportunities at $4,720 and $4,640 during the day, and the breakout space above is at $4,800 and $4,850.


Altcoin Sector
Currently, the leading effect of Ethereum is driving overall market sentiment. From the early morning trend, market rotation has begun to favor BTC and related ecosystems. After Bitcoin set a new high, its derivative ecosystem shows signs of activation, with the inscription sector's Audi (ORDI) and SATS worth watching; the Web3 payment concept may attract capital, and XLM has the potential to continue pushing to new highs; in the public chain and L2 sectors, the L2 leader ARB has seen a significant rise, and popular projects in the same sector can also be closely monitored.

The cryptocurrency market is highly volatile; the above content is only personal analysis and sharing and does not constitute investment advice.

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