The crypto market rises again, with multiple favourable information boosting the market.

The crypto market has recently entered a rapid rise phase. Following a significant rise the day before yesterday, the market experienced another strong rise last night.

According to the market data from a certain trading platform, BTC reached a high of 117548.2 USDT last night, reporting 115408 USDT as of this morning at 8:30, with a 24-hour rise of 3.75%. ETH performed even better, breaking through the 3000 mark under multiple favourable information stimuli, peaking at 3002.99 USDT, reporting 2972.21 USDT as of this morning at 8:30, with a 24-hour rise of 5.77%. SOL reported 162.7 USDT, with a 24-hour rise of 4%.

Affected by the overall market rise, the altcoin market has also welcomed a strong recovery. As of 8:30 this morning, multiple altcoins ranked in the top 100 recorded double-digit rise, among which SUI reported 3.42 USDT, rising 11.7%; ARB reported 0.3915 USDT, rising 11.1%; PEPE reported 0.00001218 USD, rising 11.2%; PENGU reported 0.0194 USDT, rising 26.18%.

According to data platforms, the total market capitalization of encryption has now surpassed $3.669 trillion. In terms of market sentiment, the trading enthusiasm of crypto users has significantly increased, with today's fear and greed index reaching 71, classified as "greed."

In terms of derivatives trading, the total liquidation across the network in the past 24 hours reached 1.078 billion USD, with 969 million USD from short positions. BTC liquidation amounted to 583 million USD, while ETH liquidation was 242 million USD.

Analysis of Causes for Rise

The recent market rise is due to multiple factors:

1. The impact of tariffs has weakened: The market has gradually adapted to the effects brought by the tariff storm, and panic sentiment has significantly decreased.

2. Increased institutional buying: The spot Bitcoin ETF continues to maintain a net inflow of funds, with more altcoin ETFs expected to be approved. An increasing number of listed companies are expanding their coin hoarding targets to altcoins such as ETH and SOL.

3. Expectations of interest rate cuts boost: Several officials from the Federal Reserve have expressed views on interest rate cuts, uplifting market sentiment. San Francisco Fed President Daly indicated that there might be two rate cuts, considering implementation in the fall. Fed Governor Waller believes that even with strong employment data, the option of a rate cut in July should still be considered.

Analysis of the Strong Rebound Prospects for ETH

ETH has performed remarkably in recent times, having doubled since its low in April. The driving forces behind its rise mainly stem from regulatory easing, institutional accumulation, foundation reforms, increased on-chain activity, and a return of market confidence. In the long term, ETH may experience a structural reversal, with the potential to maintain its upward trend.

However, in the short term, ETH is still facing strong selling pressure around the 3000 dollar mark and may need further consolidation to gain strength. A certain analytical model shows that ETH faces resistance near 3000 dollars, with support around 2750 dollars.

In addition, the Ethereum Foundation sold 1210 ETH again this morning at an average price of 2889.5 USD, which may also affect market sentiment to some extent.

Discussion on the Prospects of "Shanzhai Season"

With ETH's strong rebound, the market's expectations for the "altcoin season" are heating up again. Some analysts believe that the current open interest of multiple altcoins exceeds their market capitalization, which may trigger a short squeeze and drive up altcoins.

However, there are differing opinions that, although Bitcoin may reach new highs, most altcoins may still underperform Bitcoin. Regulatory policies, market seasonal factors, and potential interest rate cuts may drive Bitcoin and crypto-related stocks to rise, while the altcoin market may only partially follow.

It has been a long time since the last "Altcoin Season", and the market seems to have lost its imagination for it. Whether this time will be different remains to be seen.