Cryptocurrency Market Summary: Bitcoin, Ethereum, and Altcoins

Bitcoin's current situation is summarized, advising holders to endure despite potential price drops and to anticipate a significant rise.

### Bitcoin, Ethereum, and Altcoin Market Summary and Analysis
* 📉 Bitcoin's price has been fluctuating around **67k**, with the possibility of dropping to **65k** before making a **significant rise**. It is advised to **hold and not panic sell**.
* 🔗 Bitcoin dominance has been maintained at around **55.5%**, and Ethereum's ETF approval is expected to have a **positive impact on its price**.
* 📉 There has been a **significant increase in short positions** on Bitcoin futures at the CME exchange, with analysts speculating that hedge funds are using ETFs to **profit from price differentials**.
* 🇺🇸 U.S. senators have urged the Federal Reserve to **quickly lower the current 5.5% interest rate**, and there are concerns about a bill that could **severely impact digital asset businesses**.
* 📈 Despite short-term challenges, the overall outlook for altcoins is positive, as they tend to **pump during the later stages of the Bitcoin bull market**.
* 📈 The upcoming CPI, PPI, and FOMC dot plot announcements are expected to have a **positive impact**, and there is hope for a **"refreshing sale"** after clearing the **65k volume**.
* 💡 "Even if I have been too negative, regarding the Fit 21 related legislation, no matter how it is revised or whatever negative aspects there may be, it doesn't matter for **altcoins**."
* 💰 "Those who came in to make big profits with altcoins should also be prepared to take on the corresponding risks. So, don't be too scared at the part where the price drops, **hold on until the end, endure until the end, and enjoy the rise that will come out in the end**."

비트코인, 이더리움, 알트코인 상황정리

급속도로 성장하는 암호화폐 시장에서 
코인에 대한 확신 없이 포모(FOMO)에 의한 
투자를 하시는 분들이 너무 많은 것 같습니다. 

그렇게 투자를 진행하시면 상승장이 끝날 때 많은 피해가 발생합니다.
2017년도 저희 어머니가 그랬던 것처럼요

그래서 그런 피해를 보시는 분들이 없게 하기 위해 
처음 암호화폐 시장에 진입하시는 분들도 이해할 수 있도록
최대한 쉽게 정보를 드리는 유튜브를 만들었습니다.


허쉬

The Current State of Bitcoin, Ethereum, and Altcoins

The video discusses the recent price fluctuations of Bitcoin and altcoins, reassuring viewers not to panic.

Bitcoin's price has been fluctuating around the 67k mark, with predictions of a possible drop to 65k before a potential rise.

The video also emphasizes the importance of holding onto investments and not engaging in panic selling, while explaining the relationship between Bitcoin dominance and the movement of altcoin prices.

Likelihood of Ethereum ETF and Market Analysis

Analysts are giving a 75% chance of an Ethereum ETF being issued, leading to a 20% rise in Ethereum and a drop in Bitcoin.

Ethereum dominance has been steadily increasing since 2022, while Bitcoin dominance is currently holding at around 55.

The market is facing some uncertainty due to various factors, including the upcoming CPI, PPI, base interest rate decisions, and the release of the dot plot, causing a slight weakening in buying sentiment.

The Impact of the Revised Bill on Digital Assets and Altcoin Trading

The revised bill classifies coins as limited digital assets and products, rather than securities, affecting their sale on exchanges and causing negative news for altcoins.

The approval of the Ethereum ETF is expected to impact Solana and Ripple, leading to disappointment for those who missed the opportunity to invest in Ethereum.

The fluctuation of Bitcoin and Ethereum prices is heavily influenced by futures, with Ethereum expected to pump again upon approval, making it a good investment option.

The Surge in Bitcoin Futures Short Positions

The short selling of Bitcoin futures positions has been increasing significantly, especially following the flow of ETF funds.

Overseas traders and analysts believe that hedge funds are using this strategy to generate profits from price differentials.

There are contrasting perspectives on whether this surge in short positions could lead to a massive pump or is just a regular investment strategy.

Pressure to Adjust Interest Rates and the Impact on Cryptocurrency Regulation

Senate to quickly raise interest rates due to the policy's impact on housing and car insurance costs, as well as its potential to cause unemployment.

The Federal Reserve is being urged to take action ahead of the presidential election.

Meanwhile, a bill related to terrorist financing has been passed with provisions regulating cryptocurrencies, causing dissatisfaction and the need for significant revisions.

This move is expected to have a major impact on U.

cryptocurrency policies and could unnecessarily worry cryptocurrency holders.

Anticipating Positive Economic Indicators and Altcoin Performance

May's CPI exceeded expectations due to a surge in gasoline prices, leading to anticipation of a positive June.

The upcoming Powell's speech and FOMC dot plot release are also expected to be positive, potentially leading to a rate hike in September.

Despite potential market fluctuations, the video emphasizes holding onto altcoins for long-term profit amid the Bitcoin bull market.