"Supercycle: BTC hits another all-time high!"

The quality of decision-making depends on the information you have and your ability to process it. - Ray Dalio, Founder of Bridgewater Associates - “Principles”

Bitcoin has once again reached a new all-time high (ATH) of $106,500 in such a short period of time, and professional financial institutions and investors continue to be bullish on Bitcoin.

Financial institutions and major companies’ acceptance of Bitcoin continues to rise, global regulatory policies are gradually maturing, the advancement of blockchain technology has improved the practicality of Bitcoin, and factors such as the halving event may lead to a shortage of supply, all driving Bitcoin to repeatedly set new highs. In addition, strong stock market performance, especially the outstanding performance of the Nasdaq index, also supported the rise of Bitcoin. Appreciable charts

Ethereum has once again surpassed $4,000, setting a new record high after Bitcoin. With the ETH/BTC ratio finding support at 0.033, which is the lowest level since April 2021. As the bull market progresses, we expect the ETH/BTC ratio to continue to rise as capital is likely to keep flowing in. Solana performed poorly after reaching a new high, with the SOL/ETH ratio falling back. Despite SOL’s 7-fold increase in the past year, the current price reflects a trend of profit-taking and increased competition. Don’t worry, Solana’s daily active addresses and decentralized exchange (DEX) trading volume continue to lead, showing that its on-chain activity remains strong. The latest developer report shows that Solana has surpassed Ethereum in 2024, becoming the preferred ecosystem for new developers.

In addition, VIX (volatility index) has performed higher than expected recently, and market sentiment has been influenced by seasonal factors and other macroeconomic narratives. It is expected that VIX will gradually decline, and the market will remain bullish until the end of the year.

Also, CME’s FedWatch tool’s latest data shows that there is a 95% probability of a 25 basis point rate cut in the United States according to market expectations.

Note: All content only represents the author’s personal views, not investment advice, and should not be interpreted in any way as tax, accounting, legal, commercial, financial, or regulatory advice. Before making any investment decisions, you should seek independent legal and financial advice, including advice on tax consequences. Contact us ⬇ ⬇ ⬇

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