In this market‑update video, the solo presenter provides a technical and news‑driven analysis of the current crypto landscape, focusing on Bitcoin, Ethereum, and Solana. He attributes Bitcoin’s recent rapid $2,000 rise to the SEC’s decision not to appeal Grayscale’s Bitcoin Trust, interpreting the move as a step toward a spot Bitcoin ETF and a catalyst for institutional inflows. He revisits his prior bias that Bitcoin may face a rejection around the $30K level and could retrace to the $24K‑$23K range, while warning that the market is transitioning from a high‑volatility phase to a range‑building phase, making patience essential. For Ethereum, he notes a weaker performance relative to Bitcoin, cites declining network‑fee revenue and rising token supply as bearish fundamentals, and projects short‑term targets around $1,420‑$1,370, contingent on Bitcoin’s direction. Regarding Solana, he highlights the upcoming Solana Breakpoint conference (Oct 20) as a potential bullish catalyst, sets a primary price target of $25.6, and identifies a fair‑value gap entry around $20.6 based on liquidity‑sweep dynamics. Throughout, he emphasizes disciplined trade sizing, the importance of monitoring liquidity levels, and the need to align alt‑coin exposure with Bitcoin’s moves. The video concludes with a personal note about his birthday.
Chapters
What's up everyone, welcome back to another market update. As you can see right now, the Bitcoin price is absolutely going through the roof, and guess where it's landing? If you've been watching the market update videos from the past few weeks, you know that I have been looking at this exact area, which is right at around, you know, $30K, for a rejection. If you had limit orders set right there, you'd be in quite a bit of profit at the moment, given that price has dumped $2,000 in a matter of minutes. But also, if you had long orders just targeting this area, oh, you'd be in really, really big money. But otherwise, now that this level has been hit, the question is why and what's next? And let's start off with the reason why. Basically, what I'm willing to bet on is the fact that the Bitcoin price is pumping at the moment because the SEC failed to appeal to Grayscale's Bitcoin Trust. So essentially, we are about to have a— or at least we are one step closer to having a Bitcoin ETF. And since crypto is quite the sentimental market It tends to react pretty strongly to news like this, but it is for good reason. Because once we do get a spot Bitcoin ETF, the amount of institutional money that is going to pour into the crypto markets is going to be absolutely insane. And at the very least, this will set us up for a really, really nice bull market heading into the, oh, just the next bull market. So that is the reason why Bitcoin has pumped, for those of you looking for a rationalization. But we were sort of already expecting this in the first place, especially if you watched last week's video. But now that this level has been hit, well, what's next? Well, at the moment it's a bit hard to tell, but I'm going to stick with my previous bias because what I was hoping for previously was for price to get rejected off of this block right here and then have a monthly power of 3 expansion down into the $24K or even $23K area. Now that this level has been hit, all I'm simply going to do is start looking for signs that the market wants to expand that way. And if it doesn't, for example, if it starts going up from here on out, then obviously I'm just going to ride that wave. But given how the liquidity has already been swept here, maybe you don't really have much of a reason to go all the way back up there. Although, if there is one thing that I must warn you guys about, is the fact that the markets always move from a phase of low volatility to high volatility, and then back to a state of low volatility. Given that we have had quite a good amount of volatility over here, It wouldn't be surprising for Bitcoin for the rest of this week to just start ranging around and engineer liquidity before the next move. And it will not be too late for you to decide, or at least for me to read what is going to be the next move after the range has been formed. It's going to be way higher probability if you decide to take a trade then compared to right now where it's a bit more of a coin toss. So one of the things that I do recommend this week is just, you know, exercise patience, especially when it comes to Bitcoin. If you want to get into altcoins on the basis that the profits gained from Bitcoin, people are going to cycle it into altcoins, then please do so. But otherwise, on Bitcoin, it's kind of a coin toss at the moment. Now we move on to Ethereum. Now in this video, we're going to talk about Solana as well because I do believe that there is going to be a, well, pretty nice opportunity on Solana. Otherwise, on Ethereum, well, it is looking as weak as ever. With Bitcoin pumping more than 10% in like a 10-minute span, Ethereum Pretty much went up by, let's see here, maybe 5, maybe 6%. So obviously at the moment Ethereum is looking much, much weaker than Bitcoin, and I've been saying this for months on end at this point. If you are going to go prioritize longs, use Bitcoin, and if you want to look for shorts, use Ethereum because it's going to dump on a relatively larger margin compared to Bitcoin. Now the target for Ethereum at the moment, given that the short-term bull target at $1,520 has already been hit, Then, you know, the target for Ethereum in this case is going to be around $1,420 and even $1,370 to some extent. And though this will only come through if Bitcoin starts dumping over the next few days, but otherwise expect Ethereum to start engineering liquidity just like Bitcoin as well. But I wouldn't be surprised if you start, you know, slowly bleeding out into the $1,420 area. And on another note, there is a piece of news, or rather piece of information for Ethereum, that is fairly bearish for Ethereum. Basically, the revenue from network fees on the Ethereum blockchain has reached its lowest point since April 2020, when it transitioned into proof-of-stake protocol. It's basically decreased by 90% from its peak. And this is a problem because in the last 30 days, the Ethereum token supply has increased by about 33,500 Ethereum, or approximately $52 million, due to reduced blockchain activity. Now, Ethereum is a token where, with its current protocol, benefits from very high usage and very high volume. That's what makes Ethereum deflationary. And in a bear market such as this, well, Ethereum is not only fighting to stay shoulder to shoulder with Bitcoin, but it is also fighting with inflationary tokenomics, which is another piece of information that adds to the Ethereum bearish bias at the moment. And now we move on to Solana. And the reason why I come to Solana is because there is an event called Solana Breakpoint, which is happening on the end of this month at October 20th. Now, usually Solana tends to rip a bit during the conference. It might be worth it to start setting ourselves up for a bullish trade on Solana. Even though I say that, it is easier said than done because of the recent Bitcoin pump. It sort of puts a wrench into our plans. Now, I have a very clear target for Solana, which is $25.6. It hasn't been hit for quite a while, so expect Solana to continue reaching for that, especially because you have just formed one high here. Another high there, that high there, and that high there. So you have 4 relatively equal highs here, which also means that there is a ton of liquidity right above this level. So this level is going to get hit sooner rather than later. The problem with this pump is that it puts a wrench into specific entry criteria. If we haven't started pumping, I would just tell you guys like, hey, you know, we have like a fair value gap over here, or you know, whatever. But the fact that we have just pumped and took liquidity. The only entry I see that makes any remote sense is this fair value gap right here on the 4-hourly chart between $22.6 and $22.2. But then again, there is about 2 weeks left until, you know, the Solana event. So the 4-hourly chart might be a bit too short to actually nail down an entry for, you know, Solana at the moment. But if we don't use the 4-hourly chart, I don't really see an entry on the higher time frame. Like, sure, you can have You know, this bullish order block right here, but technically it's already been filled and you know you've already taken off. And the only way, like, like the best entry in my opinion is going to be right here at 20.6 because this is where you know you have the fair value gap, you have a lot of liquidity levels, you take the liquidity. This is basically known as a liquidity sweep in a bullish environment where when you sweep sell side liquidity it leads to forming new highs because the market makers require fuel In order to move the markets aggressively towards the upside. Where do they get that fuel? Sell-side liquidity. And it just so happens that this is also a key level. So all in all, it's like, that is the level that I'm looking at, but I am not sure if we will get this level hit before the next 2 weeks and then start getting the pump. But if we do, look to purchase Solana or to go long at around $20.6 and then take profit at about $25.6. That is about a $5 swing. Uh, or about, say, like a 25% move if you were to be able to buy here. But otherwise, just momentum trade it, I guess, over the next 2 weeks, because, well, the price is definitely going to hit $25.6 before or shortly after the beginning of the Solana Breakpoint event. But otherwise, this is all I have for today. It's my birthday today, so I'm gonna go celebrate real quick, and I'll see you guys in the next market update video. Bye-bye.
