The first data point is the ADP non-farm payrolls report, known as the "little non-farm," which will be released on April 30.
BTC reaching $100K signals that the previous decline from $110,000 to $74,500 was part of a market correction, with $74,500 likely marking the bottom. As long as BTC remains above the daily MA140 (currently at $92,249), the upward momentum is expected to continue.
The 70% mark is a key level; in both the August 2019 bear market and the December 2020 DeFi bull market, BTC’s market dominance briefly hit 70% before quickly dropping.
After BTC's price retraction from its peak, altcoins followed BTC's movement and also corrected.
There is a large-scale VC withdrawals from early-stage token markets, and a narrative vacuum alongside the contraction of TVL and trading volume, creating an unfavorable environment for altcoins.
The average funding rate for BTC has rarely been negative over the past week, indicating intense whale activity both on and off exchanges.
The first data point is the ADP non-farm payrolls report, known as the "little non-farm," which will be released on April 30.
Some smart money short positions suffered notable losses on Hyperliquid, with capital shifting towards defensive strategies or profit-taking.
If memecoins catch the next narrative wave, they could still serve as a stepping stone for small investors.
Observations on April 25 indicate that the market continues its bullish trend, with most smart money capital flowing into memecoins and the Solana ecosystem.