BTC falls below the $121500 mark

Click on the link to enter Tencent Meeting: https://meeting.tencent.com/p/9850662513 Ethereum has broken through the key resistance level of $4200, and is like a sword unsheathed, heading straight towards the psychological level of $4500. The market sentiment was instantly ignited, and investors' attention was focused on this strong signal - is the new bull market engine really reigniting? The significance of $4200 goes far beyond just one number. It was a key resistance level that suppressed Ethereum for several years, and multiple attempts to climb it have been unsuccessful. Nowadays, ETH not only has a strong breakthrough, but also shows a "steady" posture, which means that the bearish forces have collapsed here, and the market structure has undergone fundamental changes. Within 24 hours after the breakthrough, the trading volume of Ethereum derivatives surged by 35%, and the number of large on chain transfers increased synchronously, indicating that institutional and whale funds are accelerating their inflow. Technically speaking, after breaking through 4200, the upper space is completely opened up, and $4500 becomes the next clear target. The Fibonacci booth also points to the strong technological attraction in this area. The three major engines behind the breakthrough Large scale entry of institutional capital Sharpnink Gaming, a US listed company, announced a $200 million direct increase in ETH holdings and plans to expand its cryptocurrency holdings to $2 billion; More than 18 listed companies hold ETH worth over $500 million per company, and BitMine's ETH reserves have reached $2.9 billion, making it the world's largest ETH holding institution; The negative premium of grayscale ETFE has narrowed to the lowest level of the year, indicating that the expectation of spot ETF continues to ferment, and potential buying is accelerating to gather 18. Technical aspects and on chain signal resonance After breaking through 4200, ETH has firmly established its position on the upper track of the Bollinger Bands, forming a strong upward channel. Whale address (>10000 ETH) has reached an 18 month high in holdings, with daily trading volume exceeding 1.87 million transactions, indicating solid underlying demand. If it closes above $4100 this week, according to the historical volatility model, it will trigger a rapid sprint towards the $4350-4500 range. Restoration during the differentiation of ecological fundamentals Despite the downturn in the NFT market, with buyer numbers plummeting by 89.83% and sales dropping by 11%, DeFi's total lock up volume (TVL) has returned to its high point at the beginning of the year. The daily trading volume of Arbitrarum and Optimism in Layer2 network has repeatedly reached new highs, and the gas fee has dropped to an acceptable range. The actual application layer is breaking away from speculative dependence. The Focus of Long Short Game: Deviation and Hidden Concerns There is a significant divergence in the current market situation: a record high price vs. a decline in ecological participation. The number of NFT buyers and sellers has plummeted by nearly 90%, and the growth of active addresses on the chain is weak. This divergence raises questions about the sustainability of the upward trend - if driven solely by institutional funds and lacking real users, breakthroughs may be difficult to sustain. At the same time, regulatory clouds have not dissipated: the SEC's determination of whether ETH belongs to securities is undecided, while the RSI has reached 68.99 and is approaching the overbought zone, accumulating pressure for technical correction. Key Campaign for Sprint 4500: Overview of Long Short Strategy; [Long position signal] If the daily chart stabilizes at $4250, positions can be opened in batches, with a target range of $4350 to $4500; Pay attention to the progress of ETFs and Pectra upgrade updates, and successfully land or trigger a second wave of gains; [Empty Defense] If it falls below $4000, stop loss is required. Looking at the range of $3695-3719 with support; Closely monitor derivative funding rates, and extreme positive premiums (>0.1%) are short-term peak signals. Institutional perspective: From conservatism to fanaticism LD Capital founder Yi Lihua: Clearly bullish to $5000, emphasizing that "ETH is the only engine of the bull market" and that a pullback is an opportunity to increase positions; Fundstrat analyst Tom Lee boldly predicts a target of $16000 by 2025, based on the rebound of ETH/BTC exchange rates and institutional holdings aligning with Bitcoin; Technical experts warn: Short term overbought is severe, with strong selling pressure in the range of $4500 to $4700, and continuous increase in trading volume is needed to effectively break through. The engine has been ignited, but is there enough fuel Ethereum's breakthrough of $4200 undoubtedly ignited market enthusiasm, with institutional hoarding, technological breakthroughs, and macro warming forming a triple driving force. However, the shrinking NFT ecosystem and the hanging sword of regulation remind us that a bull market is not an easy road. $4500 will become a watershed between long and short positions - if we increase our volume and conquer it, we will look towards a new high of $5000; If the volume can shrink, it may step back on the $4000 restructuring chip. At present, investors should closely monitor two major signals: the progress of ETF approval and the growth data of Layer2 users. The true 'bull market engine reignites' not only requires a new high in prices, but also substantial proof of ecological value capture Operation suggestion: - BTC 118450 long, first target watch 119750, second target watch 120600; ETH 4200 long, first target at 4255, second target at 4305. Join the language community communication group to obtain more services 1. Real time troubleshooting (online one-on-one question answering and sorting) 2. Professional technical analysis and theoretical learning 3. Construction and improvement of trading system- 4. Live streaming courses every day, contract termination, real-time order making, to help you successfully land! Every day, there are teachers in the group who provide precise positioning to answer questions and offer free guidance. Tencent Meeting Live: 985-066-2513 DingTalk Group Number: 120320009032 Every day, there are teachers in the group who provide precise positioning to answer questions and offer free guidance! Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.

The company aims to acquire 5% of all ether supply, worth around $25 billion at current prices.

Ethereum (ETH) was also a top performer, rising 3.3% from Friday.

OKX-ETH/USDT is currently trading at $4299.83, with a 5-minute increase of 0.88%. Please be aware of market fluctuations.

Heritage Distillery announced the completion of a $220 million private placement, with investors including Story Foundation and a16z crypto. The company plans to allocate $82 million in revenue to purchase IP tokens from Story Foundation at a fixed price to advance its IP vault strategy.