Metrics Ventures July Market Observation Guide for the Crypto Market:

1/ Following our viewpoint since May, the continued return of market risk appetite has driven the price center higher. ETH has shown significant outperformance, becoming the hottest topic of discussion in the current market, with frequent trading hotspots and increasing transaction volumes.

2/ Regarding Ethereum, we believe that there is no need to overly focus on short-term trends before the ETF staking is implemented, interest rate cuts enter the mid-term, and panic buying occurs. The short-term speculative hotspots for funds will always shift, and our view on ETH remains unchanged.

3/ Bitcoin faced a new selling pressure of ten billion dollars in July; however, under this rigid selling pressure, the intrinsic volatility of this asset remains below 10%. The high degree of chip locking around 120,000 dollars is astonishing. Such selling pressure, aside from proving asset attributes, will only change the final cycle's pattern and structure, not the fact of bull and bear markets. We remain very optimistic about the future market.

4/ The global fiscal easing cycle has begun. Trump's global maneuvering has laid a solid foundation for the relaxation of financial regulation within the dollar system and the continuous rise in risk appetite. Ride the wave, stay focused, and quietly wait for the moment of divergence during the buying climax.

Overview and Commentary on Overall Market Trends:

In the past month, the entire dollar market has returned to the familiar low-volatility upward trend of the past few years. Momentum typically focuses on localized event-driven targets, and there hasn't been particularly strong correlation even within sectors. However, the trends of Meta and ETH indicate unusual optimism and aggressiveness, which is worth noting. In previous monthly reports, we repeatedly pointed out that the market in Q3-Q4 this year would be driven by the return of risk appetite and the unification of interest rate cut expectations. At this moment, both of these driving factors have reached the mid to late stages, and we have already seen:

① Under the backdrop of a dominant leader, countries outside of the U.S. are bowing down, and there is a consistent softening domestically, including among the Federal Reserve's reserves;

② U.S. institutions are making every effort to replenish positions and the continuous return of the dollar exception theory;

③ The relaxation of financial regulation is being continuously promoted by the introduction of various bills, financial on-chain initiatives, and the loosening of leverage ratios;

Overall, we believe that monetary easing in price games will at most reach the mid-game, but the expectation game will also enter an extremely competitive phase. Therefore, in the short term, the speculation on short-term data and technical patterns will be a continuous negative EV strategy. Price rotation is healthy, and the increase in transaction volume has become a neutral event that requires careful analysis.

As for the RMB market, the analysis from the end of last year is slowly resonating with people's minds. Currently, technology (chips, AI, etc.) and inflation (chemicals, non-ferrous metals) are seen as the best segments in the eyes of MVC. Investors are welcome to inquire.

The market fluctuates, momentum comes and goes, and people's hearts are thus unsettled. The chips in the old coin circle are gradually flowing away in this process. We hope to find the next phase peak of the dollar cycle with all the experts in the upcoming cycle. Ride the Wave and Have fun.

About Metrics Ventures

Metrics Ventures is a data and research-driven liquidity fund for the secondary market of crypto assets, led by a team of experienced crypto professionals. The team possesses expertise in primary market incubation and secondary market trading, actively contributing to industry development through in-depth on-chain/off-chain data analysis. MVC collaborates with influential figures in the crypto community to provide long-term empowerment support for projects, such as media and KOL resources, ecosystem collaboration resources, project strategies, and economic model consulting capabilities.

Feel free to DM us to share and discuss insights and ideas about the crypto asset market and investments.

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If you: have bought sol below 40, or ordi below 25, or inj below 14, or rndr below 3.2, or tia below 10, and meet any two of the above criteria, please contact us at admin@metrics.ventures, ops@metrics.ventures.

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