Evening Market Analysis | Cryptocurrency Market Observation Prices showed a clear slowdown after a rally, with bullish momentum beginning to weaken. On the technical side, both KDJ and RSI are operating in overbought zones, indicating a gradual need for a correction; meanwhile, the MACD red momentum bars are shortening, and trading volume is insufficient, signaling potential divergence in the short term. Although the overall trend remains bullish, the short-term overheating is evident, increasing the likelihood of a technical pullback. It is not recommended to chase highs blindly; instead, patiently wait for the rebound to weaken before establishing short positions, riding the trend to capture the correction. Trading Suggestions: BTC: Short in the 93500–93000 range, target 92000 / 91000 ETH: Short in the 3210–3190 range, target 3135 / 3090 Core idea in one sentence: The trend isn't bad, but short-term cooling is necessary; a correction is an opportunity. #加密市场开年反弹 $BTC

## Understanding Marketcap: The Key Metric for Evaluating Digital Assets When navigating the crypto ecosystem, one metric stands out as the ultimate gauge of an asset's true worth—marketcap. This figure, calculated by multiplying a cryptocurrency's current price by its circulating supply, gives investors a comprehensive snapshot of where billions of dollars are flowing within the digital asset space. Why does marketcap matter so much? Unlike price alone, which can be misleading when comparing assets, marketcap illustrates the actual economic magnitude of a cryptocurrency. A lower-priced coin doesn't necessarily mean better value if its marketcap is significantly smaller. This distinction becomes critical when making investment decisions and assessing which digital assets command the largest market positions. ### The Current Hierarchy: Who Dominates Today's Market **Bitcoin (BTC)** continues to hold the heavyweight champion title with a commanding marketcap of **$1,854.69B**, establishing itself as the cornerstone of the cryptocurrency ecosystem. This dominance reflects years of network security and institutional adoption. **Ethereum (ETH)** secures its position as the second-largest cryptocurrency by marketcap at **$382.63B**. As the backbone of decentralized applications and smart contracts, Ethereum's market valuation demonstrates the demand for programmable blockchain infrastructure. Beyond these titans, several asset categories command substantial marketcaps. **Tether (USDT)** leads the stablecoin category, while **USD Coin (USDC)** follows with a marketcap of **$75.31B**, representing the growing importance of dollar-backed digital currencies in trading and settlement. The broader digital asset landscape includes notable performers: **Ripple (XRP)** maintains a marketcap of **$129.12B** with its focus on cross-border payments, **Cardano (ADA)** stands at **$14.70B** with emphasis on academic-driven blockchain development, and **Polkadot (DOT)** rounds out the discussion at **$3.52B**, highlighting the diversity of blockchain solutions competing for investor capital. ### From Data to Investment Strategy Understanding marketcap rankings helps investors contextualize risk and opportunity. Larger marketcap assets typically exhibit greater liquidity and stability, while smaller marketcap cryptocurrencies may offer growth potential with higher volatility. Tracking these metrics across different time periods reveals market sentiment shifts and emerging trends within the crypto space.

Bitcoin Returns to Its 12-Year Macro Trendline --- A Key Signal for the Next Cycle Bitcoin has once again returned to one of the most important levels in its entire history: the 12-year macro trendline. This is not a random line on a chart --- it's a long-term structural support