After a brief two-day departure over the weekend, I returned to find the market's enthusiasm still undiminished. Just as the weekly chart opened, Bitcoin surged past the 120,000 mark. This position not only serves as a strong technical signal but also has the potential to drive mainstream coins like Ethereum to continue challenging new highs. The driving force behind this is clear—the CPI data released this week. If the results are as expected and moderate, it will further strengthen the probability of a 25bp rate cut next month, and may even spark discussions about a 50bp cut, a sentiment that most market participants have yet to digest.
Over the past weekend, Bitcoin performed exceptionally well, especially as it began a rapid upward trend on Saturday, pushing the price back into a critical range. Ethereum broke through 4,000 accordingly; if it aims to refresh the historical high of 2021, Bitcoin must stabilize at this position and continue to rise.
From the perspective of intraday trading, holding spot is absolutely safe right now, and waiting for confirmation of new bullish signals before increasing positions is advisable. In this rhythm, a rotating rise of Bitcoin and Ethereum is the ideal state, which usually indicates that the market cycle is entering a new phase.
However, it is essential to note that the current rise does not necessarily drive all altcoins stronger, as the funding is coming more from institutions rather than retail sentiment. Therefore, it is crucial to select varieties with mid-term sustainability when positioning.
After the Asian market opened, buying pressure remains resolute. If the price undergoes intense consolidation at high levels, it will be a key moment to observe the continuation strength of the bulls. The performance over the past week has been nothing short of perfect; now, the task is to patiently wait for the next opportunity to act—enjoying the current victory without rushing to be greedy for more. Tomorrow's CPI data release will provide direction for everyone.
