Many projects are starting to shut down and pivot—such as Mint Block, Cosmos ecosystem wallets, Magic Eden, and others. As trading activity begins shrinking across various public chains, projects are also facing liquidation. This is a sign of an impending drop, but the market instead shows a trend of various coins starting to break out and rise. A lot of meme coins have started to pump, and my previously bought ordi has also surged to 7 yuan. There are many other coins, so I won’t go into them one by one.

I think this is just a last burst of strength, a distribution of a wave—while everyone is still happy that they’re making money, the market then starts to fall. One wave of trapping for those who are stuck in positions, and those doing futures contracts will end up making money from going long, only to be liquidated after that. History is about to repeat itself again. If the US and Iran reach an agreement, it looks like a positive development, but be careful: it goes up because of war—if the war doesn’t happen, would it keep rising? Who would provide the liquidity?

Everyone around the world knows the US lost badly against Iran. Back then, the financial market’s reaction was that Trump said “we won, completely,” and then everyone followed and it kept rising. In any case, capital believes the US “won, completely.” How against human nature that is—yet even if it’s against human nature, it’s impossible to change the overall trend. After something abnormal happens, capital withdrawal will be even more aggressive than it would be under normal circumstances.

$BTC