Bitget Research: Crypto Market Oversold, Short-term Rebound Opportunity Emerges
In the past 24 hours, many new popular tokens and topics have emerged in the market, which are likely to be the next wealth creation opportunities.
In the past 24 hours, many new popular tokens and topics have emerged in the market, which are likely to be the next wealth creation opportunities.
Overview
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Sectors with strong wealth creation effect: AI sector, DeFi sector, and Solana sector.
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Top searched tokens and topics: Ethena, spot BTC and Ethereum ETF, and Japan Stock Market.
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Potential airdrop opportunities: Zircuit Mainnet Festival and Kamino S3.
1. Market Environment
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Global market sentiment surge: The US economy faces recession pressures, with the US stock market declining for three consecutive trading days. The Japanese stock market halted for two consecutive trading days, with the panic index VIX spiking by 27% in a single day.
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Regulatory pressure on crypto market makers: Leading market makers such as Jump Trading sold ETH likely due to regulatory pressures, causing a significant drop in ETH prices.
2. Wealth Creation Sectors
2.1 Sector Movements – AI Sector (TAO, ARKM, and NEAR)
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The AI sector has been in a downtrend for an extended period, and in a market environment rebounding from being oversold, it was among the first to attract investment attention.
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Nvidia opened low yesterday but rebounded, maintaining its upward trend after the market closed, thereby encouraging more long positions.
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Nvidia's future trend: Nvidia is a bellwether for the AI sector and influences the overall market valuation of the sector. If Nvidia continues to rebound in the US stock market tomorrow, the AI segment of the crypto market is likely to sustain its rebound.
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Impact of news: Pay attention to recent product updates and partnerships announced by projects. If an AMA is scheduled, consider positioning in related assets early, as there is a high likelihood that positive news will be released soon given the improved liquidity conditions.
2.2 Sector Movements – DeFi Assets (AAVE and ONDO)
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Multiple liquidations occurred on the AAVE platform yesterday, generating $6 million in revenue. Following this, AAVE initiated profit distribution and repurchased its tokens to support the price.
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ONDO, a leader in the RWA sector, rebounded from an oversold condition, presenting high potential for future narratives.
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Project revenue: Following the update to its tokenomics, AAVE's price will change in line with the project's revenue. Market liquidity issues can significantly increase protocol revenue in the short term, which will support the price of AAVE.
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Changes in open interest: Using ONDO as an example, the volume of ONDO's open interest started rising from a low point yesterday, indicating hot money inflows. Consider using tv.coinglass to gauge the movement of major funds and monitor futures data. Start by observing the uptick in net long positions, and then monitor the futures data for any increase in open interest and trading volume. If this is the case, it means that major players are still buying as prices rise, so it might be advisable to continue holding.
2.3 Sectors to Focus on Next: SOL Ecosystem Projects (WIF, HNT, POPCAT, and BILLY)
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SOL rebounded by 17% within 24 hours, stabilizing at the $140 mark. The community's strong desire for short-term speculative trading has driven up the ecosystem projects.
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WIF, POPCAT, and BILLY: Memecoins within the Solana ecosystem. Generally, when SOL rises, the leading memecoins in Solana tend to appreciate even more rapidly.
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HNT: A leading project in the DePin sector, with its token deployed on Solana. The overall DePin sector is showing signs of a rebound, and this means that DePin assets on SOL are experiencing double positive stimuli.
3. Top Searches
3.1 Popular DApps
3.2 X (former Twitter)
3.3 Google Search (Global and Regional)
4. Potential Airdrop Opportunities
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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