Wall Street's daily buying frenzy of cryptocurrencies has led to an interesting observation: in the last 10 days during Asian trading hours, Bitcoin has risen for 6 days and fallen for 4 days, while during U.S. trading hours, it has risen for 4 days and fallen for 6 days. So, what is the truth? Is Wall Street really buying or selling? Wouldn't it be more likely to find data indicating that Asia is picking up the slack?

Is $560 billion for Ethereum expensive? Elon Musk has Tesla electric cars, SpaceX, solar energy, energy storage, autonomous driving, humanoid robots, and AI, with a net worth of $400 billion, while Tesla's market cap is only about $1 trillion. What does Ethereum's $560 billion have? It has staking rewards, decentralized finance (basic), infrastructure (L1, L2), and a promising future vision. Companies with a market cap similar to Ethereum include Tencent ($700 billion), VISA ($680 billion), MasterCard ($540 billion), and Netflix ($510 billion). If Ethereum rises to $10,000 each according to an enthusiastic script, it will surpass Tesla, Berkshire Hathaway, and JPMorgan, entering the top 10 global assets. I believe that reaching this height would at least show the potential for changing the world; capital isn't foolish, and Wall Street can use various hedging tools to discreetly offload. Much of the data is just what others want you to see; don't let your imagination run too wild. If there's another opportunity above $5,000, it might be time to gradually pull back, Azu.

Is $560 billion for Ethereum expensive? Elon Musk has Tesla electric cars, SpaceX, solar energy, energy storage, autonomous driving, humanoid robots, and AI, with a net worth of $400 billion, while Tesla's market cap is only about $1 trillion. What does Ethereum's $560 billion offer? It has staking rewards, decentralized finance (basic), infrastructure (L1, L2), and a promising future potential. Companies with a market cap similar to Ethereum include Tencent ($700 billion), VISA ($680 billion), MasterCard ($540 billion), and Netflix ($510 billion). If Ethereum rises to $10,000 each according to an enthusiastic script, it will surpass Tesla, Berkshire Hathaway, and JPMorgan, entering the top 10 global assets. I believe that reaching this height would at least require seeing the early signs of world-changing potential; capital isn't foolish, and Wall Street can use various hedging tools to discreetly offload. Much of the data is just what others want you to see; don't let your imagination run too wild. If there's another opportunity above $5,000, it might be time to gradually pull back, Azu.

Is 22 trillion yuan for Bitcoin expensive? Currently, Bitcoin ranks as the 7th largest asset in the world, just 10 times away from gold. The market values of Amazon, Apple, and Microsoft are not too far ahead, and if it rises to 200,000, it will catch up with them all. For Bitcoin, the biggest difference from Ethereum is that it has already gained global consensus. In the future world, digital currency will become an inevitable trend. The issues with paper money, whether due to inflation or the inconvenience of carrying and paying, are significant drawbacks. Gold was born to solve the inflation problem, and in the digital world, Bitcoin happens to address this issue as well. The trend towards digitization will not change, so Bitcoin, as a new generation of digital gold, is timely. Therefore, for Bitcoin, it is almost unquestionable that its market value will catch up with gold in the future. However, I believe it will take at least 10-15 years to bridge this 10-fold gap, as the digitization of paper money will likely take that long. In summary, Bitcoin is more suitable for long-term investment, serving as an investment against inflation and the trend of digitization. The annual return rate should not be too bad, likely around 15-20%, which means that in 10-15 years, a 10-fold return can be achieved. It is truly a cross-cycle investment product, and one should cherish every flash crash. Compared to Ethereum, Bitcoin's certainty is much stronger.

In the past: Price fluctuations relied entirely on Trump. Today: A surge is just a word from Powell. Yesterday, I mentioned that the downward momentum around 112,000 was weakening and pointed out that ETH was the main pioneer of this rebound. Last night, Powell stated that due to economic issues, we should consider interest rate cuts in September, causing the probability of a rate cut in September to instantly rise to over 90%. The risk market reacted wildly, with ETH rising from 4200 to nearly its historical high in just three hours, an increase of over 15%. I thought Powell probably wouldn't adopt a hawkish stance, but I didn't expect this dovishness to be so strong. As a result, the market was reignited again. The rise over the next 1-2 days should be sustainable, but after the frenzy, we need to be cautious of Bitcoin's pressure around 120,000, while ETH will face pressure again near its historical high. Wall Street won't be working over the weekend, so don't have too high expectations. I will continue to follow my own trading rhythm, exiting continuously based on time and price levels, withdrawing liquidity during the bull market, and waiting for the next opportunity. I don't believe the bull market will abruptly end, but amidst one wave of excitement after another, it will eventually come to a close. If you believe in an eternal bull market or plan to hold coins for 5-10 years or more, you can ignore short-term fluctuations. I also have a portion of my holdings that will not participate in the market at all, held long-term as a belief against inflation. My attitude towards the current market remains cautiously optimistic~

A relatively good strategy right now is to go long on any of the top ten non-stablecoins by market cap and short XRP. This thing has nothing yet sits in the top three of such a huge crypto market, surpassing BNB—can you believe it? This hedging strategy is likely to yield significant profits in the long run.

The downward momentum of Bitcoin shorts is gradually weakening. In principle, there should be a short-term rebound, but overall, it hasn't adjusted properly yet. Currently, both funds and sentiment are still focused on ETH, so if there is a rebound, the increase in ETH will be greater than that of Bitcoin. Recently, the concerning news is that the probability of the Federal Reserve cutting interest rates by 25 basis points in September is decreasing, dropping from over 70% to over 50%. This is due to various economic data, such as inflation rebounding and unemployment rates declining, indicating that the economy is still doing well. Most importantly, Federal Reserve Chair Harker just stated that the current data does not support a rate cut in September. Coupled with the confrontation between Powell and the President, this situation has shifted from being a certainty to a state of uncertainty, impacting the entire market. In the next week or two, this expectation will continue to affect the market, which is one of the important reasons I believe the adjustment is not yet over.

Where exactly is the future of the cryptocurrency industry? In this round of the bull market, only those coins that are associated with stocks are qualified to be discussed; all the other small coins have died out. Many people are still debating whether altcoins will rise, but the answer is that most project teams have already given up on their projects, while you still hold on to your beliefs. Investing in altcoins is more like venture capital; you are investing in people, in teams, rather than the projects themselves. If you still firmly believe in the future of altcoins, then you should thoroughly research the project teams. Only teams that get things done are qualified to secure a future. In fact, every bull market is characterized by significant participation from external funds. With the exit of a wave of liquidity, the bull market ends. The end of this round depends on when Wall Street can no longer buy. If the U.S. can continue to borrow, print money, and lower interest rates to release liquidity, the market can continue to rise; otherwise, it may come to an end. Recently, it feels like U.S. prices are rising again. The expectation for interest rate cuts in the second half of the year is two times, with the probability of a 25 basis point cut in September exceeding 70%, but only 50% for October. According to Powell's attitude, if the CPI rises, there might only be one rate cut. My current attitude towards the market is cautiously optimistic; we must advance and retreat. The louder the calls for a bull market, the greater the noise. Maintain your clarity; when the avalanche comes, no snowflake is innocent. The main narrative of this bull market is that everything is going on-chain, so future opportunities will lie in RWA (Real World Assets) and stablecoins. Besides that, I see little innovation. However, putting everything on-chain requires strong endorsements from institutions or governments. Simplifying the intermediary processes through blockchain technology will take time to accept and will encounter numerous obstacles, as it will affect the interests of many intermediaries. Therefore, everything is still in development and progress. Thus, there is no need to doubt Bitcoin's position; other coins may just be a passing trend. If you are a long-term investor, continue to hold Bitcoin, and after a sharp decline, participate in some RWA projects. This may become the alpha during the next round of increases.

The global liquidity has all been withdrawn by their family, leaving us with just a sip of soup, and the soup is still in a broken bowl.

To be honest, the emotions are really high right now, especially with ETH, which has gone quite far in FOMO. The short-term likelihood is that it might spike above 5000 and then initiate a significant correction. If so many institutions are rushing in and it doesn't reach a new historical high, that would be quite embarrassing. The old money in the crypto space will go crazy selling off as new highs are reached, so the changes in demand and selling pressure will show a huge tilt above 5000.~ As for Bitcoin, it has been hovering around 12 for so long, and recently it's starting to approach historical highs. Theoretically, there should still be some upward momentum. Once it breaks the new high, we’ll see if it’s a fake-out or if there’s sustained upward movement. Personally, I lean towards it being able to move up a little more, but the extent won't be very high, mainly a slow bull market, combined with ETH and SOL and other Wall Street tokens, to make this final acceleration.