Crypto Market Update: Bitcoin Nears All-Time High, Meme Coins Remain Popular

Recently, the crypto market has shown a complex situation. Bitcoin broke through $108,500 over the weekend in a low liquidity environment, approaching the historic weekly closing high of $109,000. The focus of the market is whether Bitcoin can break through this key level and maintain its upward momentum. Some analysts pointed out that the 15-minute chart presents a bullish structure of "higher lows," with selling pressure diminishing, and the short-term trend is still dominated by bulls.

However, there are also views that if the historical halving cycle repeats, Bitcoin may reach its bull market peak in September or October 2025. The market may currently be entering the final stage of the bull market, with only 2-3 months left. Bitcoin needs to re-establish itself above the accumulation range high point of $104,400, while the multi-week downward trend line of this range is at $104,881.

Ethereum outperformed Bitcoin, with a weekly closing price breaking through $2500, and a 7-day increase of 12.23%. On-chain data shows a potential bullish trend, with some traders expecting the ETH price to reach $3000 in the near future. The Ethereum ecosystem also shows signs of activity, with ARB rising 17.4% on favorable news.

The popularity of the Meme coin market remains strong, with the Meme coin creation tool Moonshot Create launched by Moonshot introducing multiple new projects. Among them, $MONKEPHONE, $MOONCOIN, and $RICH have market capitalizations of around $7 million, while $MOONCAT reached a high of $3.11 million. Some independent projects have also performed remarkably, such as $MORI with a market capitalization of $132 million and $USELESS, which has recently surged over 1700%, breaking the $200 million market cap.

In terms of the macro environment, there is uncertainty in the political and economic situation in the United States. The tax cut plan promoted by Trump faces internal divisions in the Senate, and its prospects for passage are unclear. At the same time, Trump continues to pressure the Federal Reserve, raising concerns about the independence of the central bank. Nevertheless, the U.S. stock market remains resilient, with both the S&P 500 and Nasdaq indices reaching all-time highs.

The integration of traditional finance and blockchain is accelerating, with tokenized stocks becoming a new direction for development. Several crypto platforms and traditional financial institutions are laying out related services. However, insufficient liquidity and lack of regulation remain the main challenges faced in this field.

In the coming week, the market will focus on the U.S. Senate's vote on the "Beautiful Big Bill" and the group discussions among the governors of major global central banks. In addition, several crypto projects will face token unlocks, with SUI unlocking approximately 44 million tokens worth about $122.8 million.

Overall, the crypto market is at a critical moment. Whether Bitcoin can break through its historical high, whether the popularity of Meme coins can continue, and the direction of macroeconomic policies will all affect future market trends. Investors need to pay close attention to various factors and make prudent decisions.