Based on the latest market observations, there are some signs of short-term strength in Bitcoin, but overall it still maintains a volatile pattern. It is recommended that investors do not chase high in their operations, but wait for a pullback. We still believe that for Bitcoin to strengthen, it must stand firm above $26,800, otherwise it may return to the original range of volatility.

At the same time, we have noticed a continuous decrease in the supply of stablecoins. The change in the supply of stablecoins usually reflects the capital flow in the market. Currently, the supply of stablecoins has shrunk from $166 billion in the same period last year to $130 billion. This phenomenon is worth our in-depth consideration and analysis.

Despite some positive news in the market in the past period, such as ETFs, these positives have not had a substantial improvement impact on market liquidity.

Recently, Tesla's new product Dojo has injected new vitality into the global artificial intelligence industry. Dojo is a supercomputer designed by Tesla to accelerate the production of AI chips for autonomous driving cars. Its amazing performance and potential once again prove the vitality and broad prospects of artificial intelligence, and increase global investors' attention and investment in the AI field.

However, this is not entirely positive for the cryptocurrency industry. As the Dojo craze continues to ignite the US stock market, we have observed a significant increase in the siphoning effect of US stocks on cryptocurrency funds.

In other words, more and more funds are flowing out of the cryptocurrency market and into the US stock market. This has brought certain pressure on the vitality and stability of the cryptocurrency market.

In fact, this phenomenon is not temporary. With the increasingly close connection of global capital markets, the liquidity of funds is also increasing, especially after the introduction of ETFs, this flow will gradually accelerate.

We believe that only substantial positive fundamentals, such as the approval of ETFs and major technological upgrades, can form substantial tailwinds for the cryptocurrency market, accompanied by multiple positive factors in fundamentals, news, and funds. At that time, with the halving of Bitcoin, a new comprehensive bull market may occur.

A healthy, strong, and sustained bull market needs to be built on a solid foundation and requires multiple positive factors in fundamentals, news, and funds to appear simultaneously.

These two types of altcoins are worth paying attention to

First is MATIC, for which we predict a 60% potential price increase. From a shorter six-hour timeframe, it seems that the price of MATIC will break through the long-term resistance line. The main reason is that the price has already broken the short-term descending wedge, and we believe this wedge is a bullish pattern. The six-hour RSI indicator also supports the continued upward movement of the price and the breakthrough of the long-term resistance line. Once MATIC breaks the small resistance level of $0.53, it may rise to the resistance level of $0.85. Therefore, the most likely prediction is to break the resistance line and rise to $0.85. However, if the price is rejected by the resistance line, the future price trend of MATIC may fall by 35% to the support area of $0.35.

The other altcoin is LTC, for which we predict a price target of $80. From on-chain data, if the upcoming Federal Reserve meeting brings positive results to the crypto market, whales are likely to trigger another rise in the price of Litecoin to the $80 area. At the same time, the data showing the purchase price distribution of existing LTC holders also confirms this bullish stance. If the LTC price breaks through the $68 level, it indicates that the bulls will gain momentum to push the value to $81. Although some addresses have formed major resistance at this level, if the optimistic sentiment of the whales strengthens, the price of Litecoin may rise to $81. Conversely, if the LTC price falls below $50, the bears may dominate. However, some addresses have purchased a large amount of LTC at the lowest price of $59, and they can provide important support by closing their positions. But if this support level collapses, the price of the altcoin may eventually fall to $50.

In summary, the Bitcoin market is still in a volatile stage. In the future, only genuine positive events can bring substantial tailwinds, and the cryptocurrency market may usher in a comprehensive bull market. In addition, these two altcoins, MATIC and LTC, may have strong performances, and investors can pay attention to their price trends.

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