On the rebound, why are ETH and SOL moving up together?

June 8th, Bitcoin rose over 5% to re-enter 63,000, with mainstream coins like ETH and SOL also showing strong synchronized gains. This is not a coincidence but a market-wide rally after sentiment recovery. However, the rebound strength and subsequent potential of different coins deserve careful analysis.

ETH's current price is about $1,780-$1,800, rebounding approximately 4% from the June 4th low of $1,734. Compared to BTC's 5%, ETH appears slightly weaker. The reason is: on-chain activity for ETH is sluggish, Gas fees are at historic lows, and the deflationary narrative is temporarily ineffective. But ETH also has its advantages—spot ETF expectations remain, and institutions like BlackRock are still pushing related products. If ETH can hold above $1,800, the next resistance is at $1,880-$1,900; if it falls below $1,750, it may test $1,700 again.

SOL's performance is even more robust. SOL rebounded from around $140 to above $155, with a gain of over 10%, leading the mainstream coins. The logic behind SOL's strength is: continuous ecosystem recovery, meme coin hype boosting on-chain activity, and market optimism that supply pressure will ease after FTX's auction ends. SOL's next resistance is at $165-$170, with support at $145-$150.

Regarding whether the rebound of mainstream coins can continue, my view is: BTC is the "barometer." Only if BTC stabilizes can ETH and SOL have room to push higher. Currently, BTC faces the test at 65,000; if broken through, ETH may challenge 1,900, and SOL may challenge 170. If BTC pulls back, mainstream coins will also decline.

In terms of trading strategy, I plan to adopt a "strength-weakness pairing" approach. BTC as the ballast, accounting for 40% of the total position; ETH as a catch-up asset, 20%; SOL as a flexible asset, 10%. The remaining 30% in cash. Specific execution: hold existing positions around BTC 63,000, ETH 1,780, SOL 155 without adding. If BTC breaks above 65,000 with increased volume, add 5% to ETH and SOL on the right side. If BTC dips to 62,000 without breaking, add 10% to BTC on the left side.

Whether the rebound can continue essentially depends on BTC leading the way through resistance. ETH and SOL are just followers. Keep an eye on BTC, and you keep track of the entire market's pulse.

# Bitcoin rebounds 5%
$BTC