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A signal that could change the underlying logic of BTC investment: well-known on-chain analyst Willy Woo publicly stated that BTC's four-year halving cycle may be ending, replaced by traditional finance's 6-8 year debt cycle. First, the supply shock from the halving is now negligible. After the 2024 halving, BTC's annual inflation rate will drop to about 0.8%, and another halving in 2028 will drop to 0.4%—lower than the 1.7% annual supply growth rate for gold miners. The halving as the "engine" of supply shock is too small to independently drive price cycles. Second, institutional funds have completely changed the market structure. ETF holdings account for 6.3% of BTC's circulating supply, while institutions collectively hold 13.2%-13.7%, with long-term holders controlling 84% of supply. During the 2022 rate hike cycle, BTC fell over 70%, with ETF size at zero; Less than 48 hours after the 2026 rate hike, it will regain lost ground—the structure has changed, and so has the volatility characteristics. Third, the MVRV Z-Score dropped to around 0.27 in July (near the historical bottom), but this round of maximum drawdown is about 52%, far below 84% in 2018 and 77% in 2022—volatility is being "smoothed out" by institutional funds. → What does this mean? The traditional financial debt cycle—Fed rate cuts→ credit expansion→ asset price increases→ rising inflation→ rate hikes→ recessions→ rate cuts again—a complete cycle of about six years. BTC is following the same rhythm curve as US stocks, rather than its own four-year drumbeat Fidelity You don’t need to catch every pump. You need to stay alive long enough to catch the RIGHT one. $ZEC has already exploded. Chasing after a vertical move can turn a good thesis into a bad entry. Meanwhile, I’m watching $BCH closely. If support holds and momentum expands: $300 becomes the first major psychological zone. Above that, $600+ becomes a longer-term scenario worth monitoring. But first: BTC needs to hold strength. BCH needs confirmation. Volume needs to follow price. The Fed just raised rFrom August to September, the BTC market carried out a systematic "strangling" of short positions. First, on August 19, the U.S. Treasury announced an expansion of long-term bond buybacks, causing BTC to surge over 10% in a single day. Within 24 hours, 180,000 people were liquidated, and 3.26 billion yuan was liquidated, with short liquidations accounting for 3 billion yuan, accounting for over 90%. Second, in late August, BTC broke through 80,000, triggering another 600 million yuan + two-way liquidation, with 90,000 people being wiped out. Third, in early September, ETFs saw 730 million yuan in inflows in a single day, with prices surging back to 80,000. Over the entire cycle, total short liquidations from August to September exceeded $4 billion—this is not a market rally, but a structural short squeeze. → Now let's look at the on-chain "hunting map." Glassnode points out that the 83,000-86,000 range holds weeks of accumulated short positions; once BTC is touched, forced liquidations will reverse buying and push prices higher. 80,000-85,000 is also a cost-intensive zone for institutions: institutional BTC treasury companies average 80,421 to buy, ETF holders average 85,000 — meaning some institutions choose to "break even and sell" at this range. → Support below is also clear. 77,100-80,200 is the long-term holder supply wall marked by CryptoQuant, with this group selling 539,000 BTC in 30 days. 71,300 is the short-term holder average cost line, and 62,000-$65,000 is the strong on-chain support zone. → Technical aspects emerge$BCH could become one of the most interesting rotation plays if BTC continues holding strength. I’m not saying chase it. I’m saying WATCH IT. BTC = monetary narrative. BCH = higher-beta exposure to the same broader Bitcoin ecosystem. Key area: → $300 Extended scenario: → $600+ But only if price, volume and structure confirm. And $ZEC? After such a violent move, chasing the top is exactly where discipline matters most. The Fed just delivered a 25 bps hike. BTC responded by reclaiming $80K. Now th加息+法案双杀，所有人都在等崩盘。结果呢？不到48小时，BTC从74,965暴力拉回81,000，24小时涨超6%，全网11万人爆仓，空头被清洗超$2.6亿。 第一，利空量级并不小。美联储三年来首次加息25基点至3.75%-4.00%，CLARITY法案参议院49:50折戟，两条消息同时砸下来，9月15日单日12万人被爆、6.7亿被清算。第二，但消化速度快到离谱。ETF端两日流出约7.46亿后立刻恢复净流入，周四单日BTC ETF流入7.3亿，创2026年第三大单日纪录，贝莱德IBIT一只就贡献了4.54亿。第三，期货未平仓合约飙至$570亿以上（5月以来最高），多头杠杆同步加码——这已经不是2022年那个"加息就崩"的市场了。 → 催化剂在油价。布伦特连跌三天跌破$100/桶，特朗普称"对伊战事将很快结束"。油价下行→通胀预期降温→加息空间收窄，风险资产集体松绑。Strategy股价单日涨超16%，Coinbase涨超11%，矿企MARA涨近14%。 → 但Glassnode刚刚发出警告：BTC正逐步逼近83,000-86,000的空头清算密集区，若触及该区间，空头被迫回补可能引发快To be honest, the moment I pressed the close position button, my hands were shaking, my scalp tingling, and I even felt like crying.
What was the first pinned post on my homepage? It was about SNDK. Back then, I was shorting at 30x leverage, and the pump by the manipulative whales wiped me out, leaving me owing the market 115%, completely wiped out. For more than half a month, this coin was a thorn in my heart.
Today, with the same coin, going long at 50x leverage, I recovered all my losses with interest.
Why was I able to hold this position? To be honest, it wasn’t because of skill, but because of stubbornness and sheer will.
I was shaken out between 1500-1600 for half a month, the bottom kept rising, and when it broke 1700 with volume yesterday, I gritted my teeth and went long. 50x leverage, brothers, even a slight wick could have wiped me out to zero.
So why did I exit at 1745?
Because I was scared.
Really scared. I’ve suffered losses from not exiting in time and from owing money. Above 1745 was all trapped positions, funding rates were high, profits were enough, and I didn’t want to gamble anymore. Securing profits is the only truth to survive in this market.
From earning 85% on a ZEC long, 222% on a short, to today’s 337% on SNDK, I’ve been like a madman these past two weeks, watching the market every day, losing sleep every night. Finally, I earned back this tuition fee.
A heartfelt word to brothers still holding positions:
Don’t follow me in opening 50x leverage. Heavy positions feel good for a moment, but liquidation is a funeral. Staying alive is more important than anything. Nobody is talking about this. If $BTC is digital gold, $BCH is the higher-beta version of that scarcity narrative — and the market may be underestimating what happens if momentum rotates into BCH. I’m watching: $BCH → $300 Then potentially $600+ if the broader trend stays constructive. But I’m NOT chasing green candles. 15M + 1H support = areas I want to see buyers defend. $ZEC has already made a massive move. Chasing vertical candles now means taking a completely different risk profile. MeanwhiDavid Hoffman, co-founder of Bankless, liquidated his six-year holding of ETH on May 21.
Then he bought five tokens: ZEC, HYPE, LIT, NEAR, VVV.
Three months later, the report card came out: ZEC rose 110%, LIT rose 369%, NEAR rose 54%, HYPE rose 55%, VVV fell 6%. In the same period, ETH only rose 8%.
The overall portfolio return was about 90%-120%, outperforming ETH by more than 70 percentage points.
But today I don't want to talk to you about "whether to copy his homework."
What I want to analyze is—why he bought these five instead of ETH.
First, look at how he split his money into two parts:
50% equally weighted bought VVV, NEAR, ZEC, HYPE. The remaining 50% was dollar-cost averaged into LIT.
These five assets cover four narrative tracks:
Privacy → ZEC
On-chain derivatives → HYPE, LIT
Cross-chain infrastructure → NEAR
Decentralized AI inference → VVV
None of these relate to the L1 valuation narrative.
It's not that "ETH is no longer viable," but he judged that the L1 narrative valuation logic has already completed its cycle.
The common feature of these five tokens is one thing: they can prove themselves.
ZEC's catalyst is the ETF. Grayscale Zcash spot ETF (ZCSH) will list on NYSE Arca on August 25, accumulating nearly $700 million in assets in less than two weeks, with net inflows exceeding $179 million. ZEC has risen over 160% this year, while Bitcoin fell 13% in the same period. Money in the privacy track is real, not just hype.
HYPE and LIT's catalysts are protocol revenue and buyback mechanisms. Hyperliquid uses about 99% of fees to buy back and burn HYPE, with annualized revenue of $748 million and a cumulative burn of 48.17 million HYPE. Lighter's buyback speed is about twice that of HYPE, having programmatically bought back about 15.5 million LIT since TGE, accounting for about 6.3% of circulating supply. Every transaction turns into buying pressure.
VVV's catalyst is token burn linked to AI revenue. Starting July, $5 of every $100 API points purchase automatically buys back and burns VVV, reducing annual issuance from 14 million to 2 million tokens. As AI usage rises, buybacks increase.
NEAR's catalyst is privacy perpetual contracts. By integrating Hyperliquid to promote confidential derivatives, Hoffman even labeled it a "generalized version of ZEC."
Each asset can clearly explain: where the money comes from, when it comes, and how much.
So what about ETH?
Hoffman himself explained very clearly during the liquidation:
The "ETH as money" narrative hasn't failed, but it has reached its potential ceiling.
In plain terms: ETH's story is over, and the market has priced it accordingly.
Future network growth may be captured more by Layer 2 and application layers, while ETH's own price structure has limited room for revaluation.
It's not that ETH's technology is lacking. Its valuation logic has simply run its course.
The "ETH as money" narrative was worth $3,000 in 2021 and still worth $2,500 in 2026. The narrative hasn't changed, nor has the price. The market has clearly priced it.
So what exactly is Hoffman's framework?
In one sentence: In the current liquidity-scarce environment, buy assets that "can prove themselves."
Not buying "because I think it will rise," but buying "because its revenue is growing, buybacks are running, and capital is flowing in."
Not buying "narratives yet to be realized," but buying "narratives being verified by on-chain data."
ZEC has ETF capital inflows, not just privacy ideals on a whitepaper.
HYPE has daily buyback cash flow, not just a decentralized vision painted on a whiteboard.
LIT has verifiable zk circuits, not just a "trust the team" slogan.
On September 18, Hoffman declared, "Alt season is arriving earlier than expected."
That day, ZEC was priced at $1,512, up about 170% from his entry price of around $560. NEAR surged 30% in one day to $3.54, and HYPE hit an all-time high of $89.92.
Whether alt season has arrived or not, you decide.
But he had already positioned himself back in May.
$LIT $NEAR $ZEC Hoffman shouts "Altcoin season is here," but 5 data points tell you the truth
1/5 Hoffman's holdings really exploded.
He cleared out ETH on May 21 and switched to LIT, ZEC, NEAR, HYPE, VVV in early June.
Three months later report card: LIT rose 135%-210%, ZEC rose over 120%, NEAR rose 69%, HYPE rose 55%. In the same period, ETH only rose 17%.
The overall portfolio return is about 90%-120%, outperforming ETH by more than 70 percentage points.
He’s not just talk. He really made money.
2/5 But the market data doesn’t cooperate.
BlockchainCenter’s altcoin season index reads 37 in September. The threshold is 75. This means less than half of the top 50 tokens by market cap outperformed BTC in the past 90 days.
BTC dominance is 66.6%, not 58.4% as user profiles say — the reality is even more extreme. The top seven crypto assets account for 92.1% of the total market cap of the top 100, concentration back to 2021 levels.
Funds rotate within top assets, altcoins don’t get a turn at all. 30-day ETF net inflow is $5.64 billion, Bitcoin, Ethereum, XRP, and Solana alone took $5.57 billion. All other tokens combined get less than $100 million.
This is not altcoin season. This is internal circulation among top assets.
3/5 ZEC’s rise has real substance.
Paradigm co-founder publicly admits holding ZEC. Grayscale’s ZEC spot ETF raised over $460 million in two weeks. Community vote passed with 99.9% approval to cut block time from 75 seconds to 25 seconds.
ETF funds keep buying, technology is substantially upgrading.
This is not pure sentiment; there are catalysts supporting the rally.
But note one detail: the pace of positive news realization. The NU7 vote passing is positive, Paradigm’s disclosure of holdings is positive. After the positives are out, when retail FOMO rushes in, those who built positions at low levels have profits thick enough to crush elephants. ZEC rose 2590% in the past year.
The trend is intact. But chasing highs and taking over positions sometimes is just one candlestick away.
4/5 NEAR’s narrative has cracks.
Hoffman calls NEAR the "generalized version of ZEC," sounds nice. What about the data?
NEAR Intents indeed helps ZEC with cross-chain settlement, ZEC-related trading pairs account for nearly 40% of platform volume. But actual money flowing into the protocol treasury for NEAR buybacks in 30 days is only about $910,000.
Most fees are taken by channels like SwapKit; only a tiny fraction reaches the NEAR buyback pool.
NEAR is now the "shadow of ZEC," not an independent cross-chain infrastructure. When ZEC rises, it benefits. When ZEC pulls back, its trading volume and buyback volume shrink simultaneously.
To become true infrastructure from a shadow, ZEC’s share needs to drop below 15% while total volume still grows. That step is still far away.
5/5 Conclusion.
The "altcoin season" Hoffman talks about is his personal portfolio’s altcoin season, not the market’s altcoin season.
His framework is worth learning: cash flow > narrative. Buying ZEC is because the ETF is buying with real money, buying HYPE and LIT is because protocol revenue is buying back with real money. Five targets, four narrative tracks, none related to L1 valuation.
But be cautious about his calls. Clearing ETH, taking over Bankless, shouting altcoin season, rebranding NEAR — media power and holding direction coincide at the same time. What he says may be right, but you need to distinguish what is judgment and what is position.
Don’t believe it just because he shouts.
$ZEC $NEAR $ETH If $BTC is digital gold, then $BCH is the high-beta expression of that same scarcity narrative. But don’t confuse conviction with blind buying. The current structure still favors buying weakness rather than chasing strength. Watch the 15M and 1H support zones for confirmation, and scale out into resistance instead of becoming exit liquidity. 🎯 $BCH levels I’m watching: → $300 as the near-term psychological target → $600+ as a longer-term scenario if momentum and adoption continue BCH has also gThis is the psychological journey that most retail investors go through without making money……
Bitcoin at 60,000:
Retail investors: This is a deep bear market, absolutely no bottom fishing, I'll wait until it drops to 40,000 before I act.
Bitcoin at 70,000:
Retail investors: Short directly! Fake breakout, the market has topped, shorting is a sure win.
Bitcoin at 80,000:
Retail investors: The US is going to raise interest rates, keep shorting! It always drops after a rate hike, this time it will definitely crash the market.
Bitcoin at 90,000:
Retail investors: Something's off... I'll wait and see, no rush.
Bitcoin at 100,000:
Retail investors: The bull market is here! This is just the early stage, I have to get in!
Retracement from 100,000 down to 90,000:
Retail investors: As expected, a bull trap, shorting is still reliable, I'll open a short position immediately.
From 90,000 starting the main upward wave, rising all the way to 120,000:
Retail investors: Sigh, I should have gotten in earlier.
Bitcoin at 140,000:
Retail investors: I'm rushing in! Mid-bull market, this cycle can push Bitcoin to 500,000!
Then
The total crypto market cap peaks.
In just fifteen days.
Crash.
Officially turning bearish.
The 80,000 that retail investors have been longing for finally arrives.
But this time,
They no longer dare to buy. #Altcoins The weekly chart is finally about to break the nearly two-year downtrend, with this week’s increase exceeding 10%. The historical four-year cycle suggests 2026 will be a bear year, but the market tends to disagree.
Bitcoin has bounced back to 77K despite the failure of the Clarity Act and Fed rate hikes, and altcoins might achieve the first real breakout of 2026. Maybe this time it’s really different.
But I’m not calling it altcoin season yet. We’re still far from the previous high of 451B. The key is whether the weekly chart can hold above this line. Only if it holds will the trend be confirmed.Why does the crypto market rise when the Federal Reserve raises interest rates?
1. Fully priced expectations, bad news exhausted turns into good news
Before the rate hike, the market had already priced in over a 90% probability. BTC pulled back early from above 80,000 to around 77,000 to "front-run" the move. After the announcement, with no more hawkish surprises, shorts covered and cautious funds entered, naturally causing the price to rebound.
2. Dot plot shows "hawkish in the light, dovish in the dark," tightening ceiling appears
Although Waller expressed a tough stance, the dot plot shows the median rate at the end of 2026 is only 4.1%, meaning at most one more 25bp hike this year. The market reads the subtext as: this tightening cycle will not evolve into the continuous aggressive hikes seen in 2022; the tightening path is clear and limited.
3. Treasury’s TGA account liquidity offsets rate hike
This is the core underlying logic. The U.S. Treasury is spending from nearly $1 trillion in the TGA account (from September 9 to November 4), continuously injecting cash into the banking system. This liquidity directly offsets the tightening effect caused by the Fed’s 25bp rate hike.
4. Risk assets rebound in tandem, overall sentiment improves
After the rate hike, Nasdaq 100 futures rose over 1%, S&P 500 futures rose 0.8%, while the dollar and U.S. Treasury yields declined. The crypto market is not an isolated trend but rebounds in sync with the global risk appetite recovery.
5. ETF selling pressure temporarily eases, marginal improvement in funding
Before the rate hike, spot Bitcoin ETFs saw net outflows of about $746 million over two consecutive days, with institutions taking profits on the bad news.#ETH is back again, "2670 is the ultimate bull trap" "surrender at 1500." This script sounds familiar, right? It was shouted the same way last year.
To be honest: those shouting 1500 often started shouting at 1800. When it really drops to 1500, they themselves don't dare to buy. The more extreme the prediction, the more it seems like clickbait.
I actually think if ETH really breaks above 2670 and holds, then it's not a trap, it's a starting point. Don't treat every rise as a bull trap. $ZEC fully consumed 148 and 155, still strongly piercing through 155 to 1591
This is the result of too many short sellers in the market, a chain of forced liquidations after the piercing. Woke up and saw that there are really too many people shorting ZEC. Looking at it this way, it will continue to rise, making me want to go long
New range:
164x
156x market price
If 164 is also consumed, there will be little short liquidity left in the short term, but if the short sentiment remains high and everyone keeps adding shorts, then the main force will continue to kill shorts, piercing 164. Currently, I don't see any signs of the shorting cooling down
I think both shorting and longing ZEC are crazy, this is very bullish, open your imaginationThe real strength of Bitcoin isn't that it rose 5% today,
but that it didn't fall despite negative news.
The Fed's rate hikes, setbacks to the CLARITY Act,
high US Treasury yields—all create a headwind for risk assets.
Yet Bitcoin has reclaimed the 80,000 level.
The fact that it doesn't drop when bad news hits is a signal in itself.
The key now isn't whether it will keep rising,
but whether breaking through 80,000 can shift from emotional recovery to a sustained trend.
Only with strong volume and a stable hold can it be truly strong.
A spike followed by a drop is a false breakout.
Don't get dazzled by single-day gains.
Before the trend is established, everything can still reverse.
Do you think it can hold above 80,000 this time? Late Friday, $BTC pushed through 78,000 after buyers defended a 75,921 intraday floor, and the tape's real message is not the headline print but where the marginal capital went next. Volume only turned convincing above the 78,000 handle, a level the source describes as a tightly contested trigger. Hold it, and the door toward 80,000 stays open; lose it, and 76,000 becomes the anchor that defines the weekend range. That distinction matters because the move is being framed as a rotation, not a bro#美联储10月再加息概率破55%
A 55% probability is quite awkward—the market has only priced in half, betting on that half difference.
On September 18, CME data showed a 55.4% probability of a 25 basis point rate hike in October, with a 44.6% chance of no change. By December, the cumulative probability of a 50 basis point hike has reached 39.8%. The probability of at least one more hike this year is 87.4%.
But institutions themselves lack consensus. Huatai Securities says the necessity of a rate hike in October is decreasing, expecting December to be the next battleground. CITIC Securities expects another 25 basis point hike this year, but inflation year-over-year may significantly decline early next year, weakening the rationale for further hikes. Donghai Securities is more direct—the current K-shaped economic divergence and simultaneous decline in labor market supply and demand do not support the Fed initiating a cycle of consecutive hikes.
BTC's reaction is more interesting than the data itself. On the day the hike was implemented, BTC pulled back from 75,355 to around 75,800, then surged directly to 80,443 on Friday, rising over 5%. Grayscale characterizes this hike as a "mid-cycle adjustment" rather than a cycle reversal, believing that the one or two hikes expected in 2026 will not change capital allocation logic.
A 55% pricing means the market is almost evenly split between "hike" and "no hike." Before the October FOMC, there are two CPI reports and three employment data releases to go; any one exceeding expectations could push the 55% to over 80%. The divergence of BTC around 80,000 essentially bets on the direction of the data.A brief introduction to a currently not skyrocketing but excellent asset (in my opinion): SSV
Core Data
Supply: Total 17.36 million tokens, circulating about 15.93 million tokens (91.8%), inflation rate rapidly dropping from 8.3% in 2025 to 3% in 2027, possibly entering net deflation by 2029.
Staking Yield: Annualized 25%+, paid in ETH, coming from real network fees + decreasing incentive subsidies. Subsidies will taper off yearly, but real fees are increasing. I am currently staking; there is a 7-day cooldown period for withdrawal. This is one of the reasons I bought it; the bull market forces me not to jump ship midway.
Protects about 7.4 million ETH, operates over 110,000 validators, and is also used by the Ethereum Foundation.
Source of Earnings: Fees paid by validators are converted to ETH and directly distributed to cSSV stakers. The more staked → the more secure the network → more validators → more ETH fees, definitely triggering a flywheel bull market.
Main Risks
Market cap is only about 30 million USD, yet it protects over 14 billion ETH, showing a severe mismatch between market cap and protected assets.
Simply put: SSV sells "staking security," earning real ETH, but the market cap is small and volatility is high, suitable for small positions to speculate on flexibility. Another important reason is low liquidity, not suitable for large funds, as large funds can easily push the price up by around 10 points quickly. DYOR $SSV [Morning Market Watch] F&G → 71 Greed, Will BTC Hold 81,000 Over the Weekend?
Facts: OKX spot BTC ≈ 81125 (24h approx +5.8%, high ≈ 81748), ETH ≈ 2610, SOL ≈ 113 (approx +11% leading gains). The Fear & Greed Index rose overnight from 56 to 71.
Analysis: We discussed probing 81,000 last night; the new dilemma this morning is "accelerating sentiment vs thinning weekend liquidity." Those treating 80,000 as support are betting on continuation, while the bears are waiting for greed to retreat.
What to watch next: The quality of the 81,000 close over the weekend, whether the 80,000 round number support holds on a pullback, and if Monday's ETF flows follow this wave of sentiment. No promises on returns, just watching key levels. Do you think this is a relay or a trap? Cast your vote 👇On September 18, Bankless co-founder David Hoffman tweeted that "altcoin season is arriving earlier than expected."
The community went wild. The comment section was full of "bullish" and "all in."
But few noticed that on the same day he also said:
"NEAR can be seen as a generalized version of ZEC."
This sentence is actually the most dangerous part of the entire tweet.
Calling altcoin season is for attention; labeling NEAR as "generalized ZEC" is a bet.
First, let's look at what's happening with ZEC.
Paradigm co-founder Matt Huang publicly disclosed on September 17 that the firm holds ZEC, calling it "Bitcoin's complement in privacy."
This is not some crypto KOL hyping a coin. This is a mainstream VC managing tens of billions of dollars publicly confirming their holdings.
Grayscale's Zcash spot ETF (ZCSH) launched on August 25, and within two weeks, assets under management surpassed $500 million, holding over 550,000 ZEC, about 3% of the circulating supply. DCG International Investments alone invested $100 million.
The ZEC community just overwhelmingly approved the NU7 upgrade—block time shortened from 75 seconds to 25 seconds, while retaining Bitcoin-style halving cycles. 99.9% voted to shorten the block interval.
ZEC is currently priced around $1,444, with a market cap of $24.5 billion, already breaking into the top ten cryptocurrencies by market cap. A year ago, it was still around $30.
Paradigm holdings + Grayscale ETF + community governance upgrade—these three things happening simultaneously is no coincidence. This signals privacy assets evolving from "geek toys" to "institutional allocations."
But what Hoffman really wants to say is not to buy ZEC.
The label he gives NEAR is: "a generalized version of ZEC."
In plain language: ZEC protects financial privacy, NEAR aims to protect the privacy of all commercial activities.
Do you get it? What he's pushing is not a privacy coin, but privacy infrastructure.
Zashi wallet (the core self-custody gateway in the ZEC ecosystem) uses NEAR Intents for its cross-chain swap function. Want to swap BTC for shielded ZEC? Use NEAR. Want to swap shielded ZEC for USDC? Still use NEAR.
NEAR collects toll fees on every transaction.
As of early September, NEAR Intents had a cumulative transaction volume of about $27.6 billion, covering more than 26 blockchains, generating approximately $45 million in fees. The Fee Switch mechanism activated in February 2026 stipulates that 100% of protocol fees are used to repurchase NEAR on the open market.
The hotter ZEC gets, the more Zashi is used, and the stronger NEAR's buyback.
Hoffman's bet logic chain is: privacy asset trading volume explodes → underlying settlement layer captures value → NEAR gets the dividend.
But the data reveals an awkward truth.
$45 million in cumulative fees sounds like a lot.
How much actually flows into the buyback pool as "protocol revenue"?
$5.51 million.
Monthly average buyback is about $900,000.
Out of $45 million, only $5.51 million went into the buyback pool. Where did the rest go? Most was taken by solvers (market makers/settlement parties) and distribution channels. SwapKit alone took over $4.4 million.
NEAR Intents is more like a "toll collector"—the volume passes through, but most of the money stays in others' pockets.
Even more painful is the concentration. ZEC trades account for nearly 40% of NEAR Intents' daily volume. This means NEAR's "altcoin season" narrative heavily depends on the performance of just one coin, ZEC.
ZEC rises, NEAR follows. ZEC falls, NEAR likely falls even harder.
This is not infrastructure; it's a shadow.
There's one more thing hidden in Hoffman's liquidation moves.
On May 21, he liquidated his six-year ETH holdings. On the same day, Ryan Sean Adams stepped back, David took over Bankless, and the team was later reported to have undergone significant layoffs.
He took half the funds and equally bought VVV, NEAR, ZEC, HYPE, and invested the rest in LIT through dollar-cost averaging. The purchase price for NEAR was about $1.4, now $3.63.
Liquidate ETH → take over media → build altcoin positions → call altcoin season → label holdings with narratives.
This sequence was completed within three months.
Think about it.
Hoffman is not betting on altcoin season.
He is betting that privacy will shift from "geek demand" to "institutional compliance demand."
Paradigm is buying ZEC. Grayscale is launching ETFs. The ZEC community is upgrading protocols. NEAR is enabling default privacy mode for confidential perpetual contracts.
All these things are happening simultaneously.
This bet is much bigger and much riskier than altcoin season.
Because if the privacy narrative does not institutionalize—if regulations tighten, if ZEC's hype fades, if NEAR remains just "ZEC's shadow"—then Hoffman's entire logic chain will break from the bottom.
$45 million in fees but only $5.51 million buyback efficiency is itself a warning.
Don't just look at what he's shouting. Look at what he's buying and why he's shouting now.
$BTC $ZEC $NEAR DOGE SNAPPED BACK HARD
Watched $DOGE crash to a $0.07831 low, then rip to the $0.08870 high before settling near $0.08756. Reversals like this test discipline — chase late or wait for confirmation. 30D still up 8.78%, yet 180D sits at -7%.
How do you handle sharp reversals: chase or wait?"The path to on-chain financial compliance is clear" sounds very satisfying, but the reality is more like the regulator has only built half the bridge.
The SEC has introduced an innovation exemption for tokenized securities, opening a trial window for some on-chain transactions. The benefits are straightforward: longer trading hours, faster settlement, programmable assets, and financial infrastructure that was previously only accessible to large institutions could all be redesigned. But new problems also arise—if the same stock exists simultaneously as a traditional stock and multiple token versions issued on different platforms, who unifies the price, liquidity, circuit breaker mechanisms, and investor rights?
On-chain will not automatically eliminate financial frictions; it will just move the friction elsewhere. Settlement time may shrink from two days to a few minutes, but the market could be fragmented into more isolated islands; transparency may improve, but ordinary users might not be able to distinguish whether they are buying native securities, depositary receipts, or synthetic assets that only map the price.
Therefore, I support regulators opening the door, but oppose packaging "on-chain" as inherent progress. What the SEC and CFTC really need to solve is not just allowing institutions to experiment, but ensuring that after assets go on-chain, clearing responsibilities, client asset segregation, and extreme market condition protections do not disappear together. Speed is attractive, but rights are the bottom line.
#数字资产信息合规受关注 Traditional finance has taken another step forward.
The U.S. financial services company Equitable has included a BTC-linked investment option in registered index-linked annuities (RILA).
It is directly linked to the performance of BlackRock's IBIT, offering up to 40% downside protection.
Allocation usually does not exceed 25% of the annuity's value.
BTC is gradually shifting from a "high volatility asset" to a standard option within traditional financial products.
This is the incremental change that deserves more attention.It's already 2026, and many people still don't understand what having 400,000 in savings means. According to data from the central bank, only 0.63% of bank deposit accounts nationwide have more than 400,000; note this is accounts, not individuals. In other words, just looking at a single account that can withdraw 400,000 in cash already outperforms 99% of people. Online, everyone claims to earn a million a year, but in reality, even having 70,000 in savings can be a challenge for many families. This is the gap between the information cocoon and the real world. But I want to say another layer: is 400,000 really safe lying in the bank? Now, the one-year fixed deposit interest rate has dropped to just over 1%. Even with mild inflation, money is quietly losing value; saving money itself is becoming a certain chronic loss. I'm not telling you to go all in on crypto; on the contrary, ordinary people should first establish an awareness of asset allocation. Savings are the ballast stone—you need to keep enough emergency funds; but beyond the ballast, you must allocate some to inflation-resistant assets, like gold, core city assets, or BTC, which has a fixed total supply, giving your money a chance to outrun the printing press. My own approach is: 330,000 in a relative's account all in spot holdings, with BTC making up half, ETH about 30%, SOL controlled within 15%, no contract leverage, holding long-term with idle funds, able to sleep soundly through ups and downs. Savings give you confidence, investments give you an upper limit; both are indispensable. The real risk is never volatility, but having all your money in a basket that is certain to depreciate, while mistakenly thinking that is safety. 400,000 is something to be proud of, but what deserves more thought is how much purchasing power this 400,000 will have in ten years.Last night I opened a light short on $ONE. The thesis is simple: when liquidity starts concentrating in stronger, more liquid assets, weaker altcoins can struggle to maintain momentum. Meanwhile, $BTC and $ETH continue to attract the market’s attention as their narratives remain stronger and liquidity stays concentrated around major assets. The key signal isn’t one green candle. It’s where capital keeps flowing. $BTC → market anchor $ETH → expanding on-chain liquidity Altcoins → higher volatilitBrothers, it's really one wave after another.
In September, the Fed just took a cut, pushing interest rates to 3.75%-4.00%, the first time in three years. So what happened? CME FedWatch data shows the probability of another rate hike on October 28 has surged to 54.2%, and the chance of a hike in December is as high as 88.2%. Goldman Sachs also came out saying they expect a second 25 basis point hike in October.
What’s even more painful is the dot plot shows 16 out of 18 officials believe there needs to be at least one more hike this year.
But interestingly—on the day the hike was implemented, Bitcoin didn’t fall; it actually rose. The head of Grayscale Research directly said this looks more like Greenspan’s "mid-cycle adjustment" in 1997, not the cyclical shift of 2022. The crypto market won’t change its overall capital allocation direction just because of one or two extra hikes.
In short, bad news is digested as it comes. Those who needed to run have already run; those still in the game aren’t afraid.
But don’t get carried away. The 10-year US Treasury yield is already close to 5%, the 30-year is over 5.3%, liquidity is indeed tightening. It’s okay to climb with volatility, but chasing highs is just handing over your head. #美联储10月再加息概率破55% $BTC 81,170. Today I'm watching one number: 80,119; only if it breaks below this can it be considered weak.
【Today's key levels for multiple coins · all can be verified】
$BTC 81,170｜Support 76,579.97｜Resistance 81,741
$SOL 113.19｜Support 101.86｜Resistance 114.32
$XRP 1.40｜Support 1.30｜Resistance 1.42
In the past 24h, about $680 million worth of liquidations across the network, over 165,000 people, neither bulls nor bears have decisively won. But I have to take a side—if I don't, I can't keep the books or verify them.
80,119 and 79,368 are the most densely leveraged zones; when the price brushes past these, it’s being pushed, not slowly falling.
My ledger: 80,119 is the line of weakness, 81,332 is the line of strength; these two are fixed now, no moving them after the fact.
I’m betting first on testing 81,332: above it lies the short stop-loss zone; pushing up there means shorts are lifting their own coffin. If I’m wrong, I’ll admit it tomorrow.
No action means no action; I won’t add an entry price after the close.
The public bets so far: 6 wrong, 2 confirmed, all kept for review.
For the coin in your hand that’s surged the most, do you think the market maker is pumping it, or shorts are being squeezed up? Report the $code, and I’ll judge it based on today’s liquidation structure.
#CreatorIncentive #VolatilityRadar: Coin Movement WatchGlassnode keeps highlighting the same area: **$83K–$86K**. That zone isn’t just another resistance level. Their data shows a heavy concentration of short-liquidation levels there, while long-term holder supply and other cost-basis structures are also stacked overhead. If BTC pushes deeper into that zone, short positions could become increasingly vulnerable to forced buying. That can create a feedback loop: Shorts cover → buy pressure increases → price moves higher → more shorts get pressured. BuUS crypto legislation has finally moved forward, but don’t rush to shout "The BTC payment era has arrived."
The House Ways and Means Committee advanced the digital asset tax bill by 38 to 5, covering some transaction fees, stablecoins, mining and staking, as well as wash sales and constructive sales rules. This is certainly progress: regulators are finally starting to acknowledge that crypto assets cannot forever be taxed under frameworks designed decades ago for stocks.
But the detail most easily overlooked in the headline is that partial fee exemptions do not mean everyday BTC coffee purchases are fully tax-free. As long as each payment can still constitute an asset disposition, users must record costs and calculate gains and losses. Crypto remains separated from truly "being used like money" by a troublesome accounting barrier. Meanwhile, the BTC reserve proposal and tax reform are on different legislative tracks; just because good news appeared on the same day doesn’t mean they should be bundled as already implemented.
My attitude toward this is excitement, but definitely not self-congratulation. What the industry needs is not a slogan of "America embraces crypto," but for ordinary people to use a wallet once without having to moonlight as a tax accountant. The bill’s progress is worth celebrating, but the real victory depends on whether the details can reduce friction.
#美国加密税收与BTC储备法案获推进 OKB Dollar-Cost Averaging Log: Daily 100U, Day 328
$OKB Price: $116.11
I thought with so many negative market factors this week, BTC wouldn't be so strong, but it surged straight to eighty thousand. This wave basically saw mainstream coins all rise; SOL's single coin price caught up with OKB overnight, while OKB still showed weakness and stood still. No choice, Xlayer lacks heat, this market is not suitable for switching coins.
Funds Injected Today:
100 USDT | Coins Acquired: 0.86 OKB
Total Funds Injected:
32925.13 USDT (Daily DCA: 32800U + Others: 125.13) | Coins Acquired: 355.58 OKB | Average Cost: 92.52 USDT | Profit: +8364.45 USDT (+25.49%)
The crypto market has clearly recovered, BTC returned to $80K, high Beta assets like SOL and HYPE led the gains; BTC ETF ended continuous large outflows and resumed net inflows. On regulation, after the CLARITY Act was blocked, the CFTC began independently advancing crypto market rules, while RWA and on-chain derivatives continue to expand.
#DollarCostAveraging#OKB#USCryptoTaxAndBTCReserveBillAdvances 55% is not the answer; it precisely means the market has no certainty.
After the Fed's rate hike in September, the futures market pushed the probability of another 25 basis point hike in October to about 55%. Many see this number and immediately think "the rate hike is basically certain," but in fact, it's quite the opposite: 55% is the most awkward and most likely to cause severe volatility. It's only slightly better than a coin toss, and any inflation, employment, or energy data could instantly flip the trading direction.
More importantly, this probability itself is a price. Institutions do not truly foresee the Fed's moves; they are continuously buying and selling insurance for different scenarios. What the market will really trade next is not just "whether to hike or not," but whether the terminal rate will continue to rise and how long it might take before a rate cut.
For BTC, the most dangerous thing is not a confirmed rate hike but the repeated shifts in expectations. A certain bad news can be priced in, but a wavering policy path will continuously drain leverage. At this stage, don't treat the probability as a decree, nor be fooled by a day's ups and downs. The only real signal that 55% conveys is this: macro is taking back the steering wheel, and the market hasn't figured out where the next stop is yet.
#美联储10月再加息概率破55% #BTC is again using historical retracement percentages to make a point. -86%, -84%, -77%, -61% — it looks very regular, but have you ever thought — the sample size is only four?
Connecting four points into a line, is that a trend or just a coincidence? Each cycle has different macro conditions, liquidity, and participants. Using decreasing numbers to conclude "this is the bottom" is like carving a mark on a boat to find a sword.
Patterns can be referenced, but don’t take them as absolute truth.The short-term picture is becoming more selective. $BTC remains the main structure to watch, while $ETH helps confirm whether strength is spreading across the market. $SOL is the higher-beta signal — useful for spotting whether traders are rotating further into risk. The confirmation stack I’m watching: 📊 **Price + Volume + Open Interest** Price moving higher with rising participation = stronger confirmation. Price rising while volume or OI fails to support the move = momentum may be losing conA brief analysis of BTC short-term trends based on Dow Theory, Chan Theory, Elliott Wave Theory, volume-price relationship, order flow, and price action (strategy suggestions)
$BTC #星球日报
Short-term strategy suggestions:
Position holders (core strategy): Firmly hold long positions, move stop loss up to 80,850 (breakthrough below platform). First target 82,272, reduce 1/3 position to lock profits upon reaching; remaining position aims for ⑤-5, target 83,140 → 84,000
Non-position holders (two entry methods):
1.
Dip buy (preferred): Wait for a pullback to 80,900-81,100 (breakthrough platform + lower edge of the pivot + HVN resonance zone) to stabilize (15-minute bottom fractal), dip buy, stop loss 80,300, target 82,272-84,000;
2.
Breakout chase: Volume breakout above 82,300 to directly chase long (ATH threshold breakthrough), stop loss 81,500, target 83,140-84,500
Short-term position reduction/hedging: When price enters 82,200-82,400 and a 15-minute top fractal + Delta sharp drop (sentiment divergence) appears, reduce position or hedge short-term, wait for ⑤-4 pullback at 80,300-81,000 to re-enter
Risk control red line: Falling below 80,550 (high-level pivot lower edge) is considered a breakout failure signal, exit and wait, reassess at POC 78,450-79,000 area. Above 80,550, all pullbacks are opportunities to enter in a bull market The price has surged sharply these past two days, and many people are asking if they can open contracts to chase the long side. My answer is no, not now. Contracts can lose you badly even if you pick the right direction, because the entry point and leverage can kill you. BTC has risen from 75,500 to 81,000 in three days, and the bullish sentiment has just been ignited. This is precisely the most dangerous time for contracts—only 2,000 points away from the previous high of 83,000. Chasing now is just providing liquidity for others. One retracement candle with 10x leverage and a 5% move wipes you out. I have my own independent 500U contract account with strict discipline: single trades of 50U, 10x leverage, 5% stop loss, at most two trades simultaneously, total margin not exceeding 150U, and if I lose three trades in a row, I shut down the software for the day. At this position, I won’t open a single trade. If I were to trade, I’d wait for two scenarios: either a sharp rise followed by a pullback to stabilize at 78,000-79,000 to go long, or a volume-backed break and hold above the previous high of 83,000 with a pullback confirmation before entering. Chasing highs in between doesn’t make the risk-reward ratio work out. Ordinary people need to think carefully: you can wait out spot losses, but contract liquidation means it’s really gone. My main battlefield in this bull market is spot trading on the large cycle, holding BTC and ETH to ride the whole trend. Contracts are only for small positions to nibble on short-term moves, and must always have stop losses. Don’t let money that should improve your life become warmth for the market makers. If you can’t control leverage, you can lose everything even in a bull market; if you can keep discipline, volatility becomes your friend.Coinbase token $COIN is the most direct "crypto exchange stock." The SEC exemption is almost tailor-made for this type of company: they have both brokerage and custody licenses, as well as chain (Base) and tokenized products. After the news broke, COIN spot and token strengthened simultaneously, with a straightforward logic—if the U.S. allows tokenized stock trading, compliant exchanges become toll gates. Protocols like $MORPHO have already started experimenting with using Coinbase stock tokens as collateral, indicating the market is testing "stocks as collateral." The risk lies in the trading volume cycle: collecting fees in bull markets, bearing costs in bear markets. Interest rate hikes and regulatory fluctuations will cause valuation swings. For OKX users, the COIN token is more like an industry beta rather than the beta of a specific chain. #波动雷达：币种异动观察 #SEC与CFTC明确链上金融合规路径 #OKX星球话题来啦 #BTC is once again called the "final drop," "macro bottom," and "2022 replay." This rhetoric has been shouted since last year, and every time it’s been wrong.
Is the CLARITY Act not passing really a big negative? Interest rate hikes, legislation, regulation—aren't these bad news every year? Yet BTC has still bounced back.
The structure is weak, but the obsession with "it will definitely break the previous low" is not analysis, it’s fixation. Those who truly wait for that drop often end up missing out.$BTC has surpassed 80,000! The shorts have been completely crushed
Bitcoin just broke through $80,000, rallying from $76,500 earlier this morning, with a daily gain expanding to over 4%. Ethereum followed suit, climbing above 2,600 with gains exceeding 5%.
This surge was mainly fueled by shorts. Coinglass data shows that in the past few hours, BTC short liquidations concentrated in the 78,000–80,000 range, with each thousand-point breakthrough triggering a round of forced liquidations. The 24-hour total network liquidations have risen to hundreds of millions of dollars, with shorts overwhelmingly dominating. Ethereum also wiped out a large number of shorts between 2,500 and 2,600.
Why now? Two bearish factors (interest rate hikes finalized, Clarity Act stalled) have already played out, and the market realized it couldn't push prices down further, but short positions were piled up too heavily. Coupled with signs of ETF funds returning this morning, bottom-fishing capital and short squeeze forces combined to push the price directly past 80,000.
Key levels update:
BTC resistance above at 82,000–83,000, support below at 78,000, which has turned from resistance into support; a pullback that doesn't break this level will confirm a true breakout;
ETH resistance above at 2,650–2,700, support below at 2,520 for short-term defense.
But a reminder: this rally is still mainly driven by positions; ETF and on-chain demand have not fully turned yet. Whether 80,000 can hold depends on whether incremental funds come in next or if this is just another short squeeze followed by a pullback.
$BTC Bitcoin has shown serious resilience, pushing back above the **$80K** area after the recent sell-off. ETH has also recovered toward **$2.6K**, while ZEC remains elevated. What really caught my attention is the rotation happening underneath the surface. 🔥 **Tokenization is getting real attention** Robinhood has been expanding its blockchain and tokenized-asset infrastructure, while the SEC recently introduced a five-year exemption framework for certain venues trading tokenized stocks in the U.S.ZEC’s rally has been impressive, but a strong chart doesn’t automatically mean the valuation risk has disappeared. Here’s why I’m still cautious: 🔻 **1. Momentum is stretched** After a huge monthly run, momentum indicators are getting extended. A high RSI can signal an overheated market, although it is **not by itself a timing signal for a reversal**. 🔻 **2. Privacy-coin regulation remains a major risk** Privacy assets face increasing regulatory scrutiny, particularly around AML and exchange cBelow is a Chinese version that feels more like "market news + value analysis":
15M three-currency collaboration
🟠 $BTC + 🔵 $ETH + 🟢 $SOL | 15M Market Observation
In the short term, BTC remains the overall market directional anchor, ETH is responsible for verifying market breadth, and SOL acts more like an amplifier of capital risk appetite.
What truly deserves attention is not just price increases, but whether price + trading volume + open interest (OI) can work in tandem.
🚀 BTC stabilizes + ETH/SOL strengthens simultaneously→ market participation expands, and in the short term, it may enter a stronger trend expansion phase.
⚠️ BTC stabilizes + ETH/SOL shows divergence → appears strong on the surface, but capital participation is limited, so caution is needed to watch out for the market turning into a "narrow bullish" trend.
📌 In trading, a price increase does not necessarily mean a trend confirmation.
If trading volume and OI do not keep up, it suggests that the participation of new funds may be insufficient, increasing the risk of chasing the rally.
In short:
BTC leads direction, ETH confirms breadth, and SOL tests market risk appetite.
At the 15-minute level, first look at the linkup, then on the breakthrough 🔥
Strengthen the expression of short-term trading signals
Clear key price placeholders have been added
Compress it into short pieces more suitable for disseminationFive positives, but not enough to form a real bullish candlestick
$BTC is rising fiercely, and there are five positives that can be listed.
The data looks like this: the bill vote failed, and the SEC added a five-year exemption framework.
In plain terms, the door is neither closed nor open.
What is it betting on: rate hikes haven't killed the bull market, shorts are forced to cover.
Working backward, short covering is buying pressure, not new money.
Among the five reasons, three are "no suppression," one is "reduced worries."
The only real money entering is from the ETF.
Looking at such lists too much makes people tired.
The more positives listed, the more it shows no one can clearly explain why it’s rising.
The honest truth is: reasons are found after the rise.
My position remains, direction unchanged, but I don’t believe these five points.
Tired.
#美联储10月再加息概率破55%
#美国加密税收与BTC储备法案获推进 #全球高利率预期再升温 $BTC Funding fees and OI are not indicators; they answer one question: Are the people currently in the market adding positions, closing positions, or is it already saturated?
Three high-probability windows:
Price rises, OI follows, funding rate not crazy = Someone recognizes this direction. The opportunity is to buy the dip on a pullback, not chase the first move.
Price rises, OI drops = Shorts are closing, not new longs entering. The opportunity is not to chase longs, wait until this wave of covering ends.
Funding rate hits extremes, OI still piling up, price stuck = Position size is more important than direction. The opportunity is to wait for the side that closes first, not to guess the fundamentals.
One more often overlooked:
Funding rate is hot, but spot ETF is selling = Leveraged bull, poor quality. The next move is often a stampede, not a new trend. I focus on misalignment, not the story.
Misalignment exists only when there is a repeatable arbitrage opportunity.If the Federal Reserve raises interest rates again in October, making it two consecutive hikes, can BTC still surge dramatically?
Rate hikes mean tightening liquidity, which is bearish for risk assets in the medium to long term.
If the rate hike has already been priced in by the market, the actual announcement could trigger a short-term rebound as the negative impact is fully absorbed; however, if the rate hike stance is hawkish, the market will quickly devalue valuations.
Currently, BTC's daily chart has reached the previous high resistance zone at 82800, with MACD bullish momentum weakening and a bearish divergence signal appearing.
It's difficult for BTC to sustain a continuous one-sided surge here.
A rally that fails to break the previous high is likely a bull trap; only a strong volume close above 82800 would indicate sufficient bullish strength.
$BTC #美联储10月再加息概率破55% $ETH
Last night, the most exciting thing about Ethereum's market wasn't how much it rose, but how many people just sold off.
Earlier, with the Fed's rate hikes and the CLARITY Act facing obstacles, market sentiment cooled down steadily.
People in the group started shouting:
"Ethereum is done for."
"It can't even hold 2600."
"Go short, wait for it to keep crashing."
At that moment, many felt they finally understood the market.
But the market likes to stir things up at times like this.
Ethereum then bounced back near $2600, forcing shorts to stop out, and sentiment slowly shifted from panic to regret.
The worst feeling isn't the drop, but that you just sold and it starts to rise.
But I think what’s really worth pondering this time isn’t this single candlestick.
On September 17, the US SEC launched the "Innovation Exemption," allowing qualified platforms to explore on-chain trading of tokenized stocks.
This means traditional finance is trying to move more assets onto the blockchain.
And Ethereum happens to be an indispensable infrastructure in this on-chain financial world.
So the question is:
Is the Ethereum we see now just a coin, or part of the future of finance on-chain?
Of course, regulatory moves don’t mean Ethereum will immediately take off, and a short-term rebound doesn’t mean a trend reversal.
But after trading for so many years, I increasingly believe one thing:
What people really regret is never missing the lowest point to buy, but panicking and throwing away the last bit of their chips.
As for what happens next?
The market will give the answer.
But tonight, don’t rush to write the script. # $BTC — If the market structure breaks, the original thesis is no longer valid. $ETH — Weak flows and underperformance mean the setup needs to be reassessed. $DOGE — When attention and momentum disappear, the trade loses its catalyst. $ZEC — If the impulse starts fading, don’t assume the same momentum will continue forever. Here’s the part traders often get wrong: **Price can still look “okay” while the trade itself is already invalid.** Once your key level or thesis breaks, staying in just to prBrothers, everyone is watching $ZEC and $BTC, but no one is paying attention to $BEAT in the corner, yet it has quietly and stealthily developed, finding its own independent rhythm.
First, look at the latest data: BEAT has just shown initial signs of stabilization in the 0.075 to 0.08 range. This wave dropped straight from the 0.12 to 0.13 range down to around 0.07, almost clearing out all late buyers along the way. The sell-off stopped exactly at the intersection of the downtrend line and local support. From the wave structure perspective, the August pattern is the 4th wave of a corrective triangle. It may now be close to completing the 5th wave within wave C, meaning—the downtrend wave is almost over.
Next, on fundamentals, Audiera's "revenue-burn" mechanism has been running continuously. In the past week, 1,033,000 BEAT were burned, with a cumulative burn exceeding 22,870,000, maintaining ongoing deflation. The platform is genuinely buying back with real money.
Looking at the long-short ratio, the whole network's 24-hour long-short ratio is 1.0255, while large accounts hold a long-short ratio of 1.4212—retail investors are hesitant, but large holders clearly have heavier long positions. On the capital side, there is still a net inflow of $1.09 million over 24 hours. Although there was a net outflow over 7 days, short-term funds are already flowing back.
My long position is still held, with such a small position that the main players overlook me, so it can't be liquidated. At this level, 0.075 to 0.08 is a solid bottom. Once the downtrend wave finishes, a new 5-wave upward rally will begin. Set your stop loss properly; if it breaks below 0.07, accept the loss. If it doesn't, wait for it to rally.
#美联储10月再加息概率破55% The first move in a sector gets attention. The second move gets the money. $ZEC has already put privacy back on the market's radar, with its September 17 surge toward $1,400 and the NU7 governance vote adding another catalyst to the narrative. Now watch $ZEN. The question isn't: “Will $ZEN copy $ZEC?” The better question is: IS CAPITAL STARTING TO ROTATE? If $ZEC stabilizes while $ZEN begins gaining relative strength and privacy-sector volume expands, that tells us the market may be moving beyonTHE REAL $ZEC TRADE MAY NOT BE $ZEC. Think about it. $ZEC pushes toward $1,400. Privacy suddenly becomes impossible to ignore. Then the market starts searching for the next liquid opportunity inside the same narrative. That’s where $ZEN gets interesting. Not because it automatically follows $ZEC. Because markets often move from: LEADER → SECOND TIER → BROADER SECTOR The signal I want is simple: $ZEC holds. $ZEN strengthens. Volume expands. If those three things happen together, the privacy narra