Overview

Bitcoin ($BTC) briefly surged past $64,000 yesterday, signaling a clear uptick in market sentiment. Ethereum ($ETH) also climbed to $2,500, and Solana ($SOL) rose to $151, indicating that major cryptocurrencies are showing signs of recovery after the recent market downturn.

Daily Macro:

Bitcoin Market Performance:

Last week, $BTC briefly broke through $61,000, but after a pullback, it rallied again to exceed $64,000 today. This suggests growing market confidence. ETF inflows continued to support the price, helping Bitcoin surpass critical resistance levels and reinforcing the ongoing market recovery.

Ethereum Market Performance:

$ETH followed Bitcoin’s momentum, rising to $2,500, further indicating the market's shift toward recovery.

ETF Performance (Data from Last Friday):

BTC ETF: Last Friday, BTC ETFs saw a net intflow of 253m$USD.

ETH ETF: Last Friday, BTC ETFs saw a net outflow of 100k$USD。

Daily Focus:

TON Blockchain Under Pressure After Durov's Indictment

Reason for Focus:

Following the indictment of Telegram founder Pavel Durov in France, the TON blockchain has experienced heightened volatility. $TON dropped 0.53% in 24 hours, trading at $5.58. Issues in the network, exacerbated by the surge of DOGS Meme tokens, have raised concerns among investors.

Related Token Performance:

$TON: Down 0.38% over the past 24 hours.

Outlook:

Continued network problems and unresolved legal issues surrounding Durov are expected to keep $TON under pressure. Investors should stay informed and consider reevaluating their exposure to $TON.

Solana ($SOL) Decline and Ecosystem Expansion

Reason for Focus:

Despite the expansion of Renzo Protocol’s $REZ token to Solana via Wormhole, $SOL fell below $140, down 0.31% in the past 24 hours. The slowdown in memecoin activity has further impacted the market’s short-term outlook for Solana.

Related Token Performance:

$SOL: Dropped 5.06% in the last 24 hours.

Outlook:

While Solana’s ecosystem continues to expand, memecoin market trends will play a key role in its short-term recovery. Investors should monitor new developments, particularly any resurgence in memecoin interest.

Next Focus:

Memecoin Searches and Market Trends

Reason for Focus:

As Google search interest in “Bitcoin” dropped to its lowest point this year, memecoin searches surged, nearing record highs. The CryptoQuant CEO predicts memecoin searches could hit new highs by the end of October.

Related Tokens:

SPX6900, SIGMA, and GIGA are showing significant growth in holders, with SPX6900 up 399.47% over the last 30 days.

How to Participate:

Investors looking to capitalize on the memecoin trend should watch for market developments, as these tokens continue to attract attention and could offer short-term opportunities.

CoinEx Daily: Bitcoin Briefly Surpasses $64,000, Signs of Market Recovery