Crypto Market Weekly Report: Ethereum Expected to Break 4-Year Resistance Level, Bitcoin May Rise Then Fall

Market Overview

The global economic situation still holds uncertainties. The US and Europe have reached an agreement on trade issues, but there are differences in the details. The Federal Reserve may keep interest rates unchanged this week, but faces pressure to cut rates. Wall Street is about to enter a "moment of truth" with a series of key data releases.

Major players in the encryption industry have changed their views on market cycles, believing that the traditional four-year cycle may no longer apply, and the market is entering a "sustained and stable prosperity" phase. However, polls show that public acceptance of cryptocurrencies remains relatively low.

Bitcoin has recently shown volatile performance, having reached a new high of $123,000 before retreating. Analysts believe that macroeconomic uncertainty and changes in capital flows are the main reasons. In the short term, it may continue to face pressure, but the long-term trend depends on the global economy and regulatory environment.

Multiple analysts have provided predictions on the short-term trend of Bitcoin. Some believe that Bitcoin needs to break through $119,500 to start a new round of rises; otherwise, it may continue to consolidate. There are also analyses that expect Bitcoin to first test around $120,000, then pull back to around $114,000.

On the Ethereum side, thanks to the growth in network activity, capital inflows, and other favorable factors, it is expected to break through the four-year resistance level and is likely to hit 4000 dollars this week.

Among other assets, BNB reached a new high of $855, with a 24-hour rise of 7.5%. VINE surged 110% due to conceptual speculation. The blue-chip NFT sector generally rose, with Ethereum chain NFT sales exceeding $157 million in the past 7 days.

Market Data

• Bitcoin price: 119,465 USD, annual rise of 27.77%
• Ethereum price: $3,933.53, year-to-date rise 17.76%
• Fear and Greed Index:75( Greed )
• BTC Long/Short Ratio: 51.15%/48.85%
• Total liquidation amount in 24 hours: 249 million USD

ETF Capital Flows

• Bitcoin ETF net inflow of $130 million
• Ethereum ETF has seen a net inflow for 17 consecutive days, totaling $453 million.

Important Events

• Binance will support the replacement of LOKA coin and its renaming to A2Z.
• The Sui ecosystem project Ika will launch its mainnet.
• JUP and SIGN will unlock some tokens
• Ethereum 10th Anniversary Launch
• The Federal Reserve will announce the interest rate decision.

Performance of Hot Assets

Top five gains: HEX +25.4%, PancakeSwap +11.8%, SPX6900 +11.4%, Optimism +10.4%, Ethena +10.2%

This report is for reference only and does not constitute any investment advice. Investors should bear the risks themselves.