Currently, bitcoin is still in a consolidation phase, but there are several key logics worth paying attention to in the fields outside of defi. With the launch of meme platforms by major public chains, public chain tokens will be a good target.

Recently, Tron's meme token is gaining popularity on the Tron network, with the price of TRX approaching an all-time high. This indicates an increasing demand for public chain coins on meme platforms, similar to the previous trend of public chain tokens.

In addition to TRX, MATIC, FTM, AVAX, ICP, and other public chain tokens are also worth paying close attention to. With the launch of meme platforms, these public chain tokens may become important chips in the market, driving their prices up.

Bitcoin has not completely emerged from the oscillation phase yet, and it may still need some time. In the near future, it is important to focus on the speeches from the USA, especially regarding the news of rate cuts in September.

Although recent news about Men'tougou has caused some fluctuations in the market, overall, the market sentiment has gradually stabilized and is no longer as panic-stricken and sensitive as before. Rational sentiment now dominates the market, laying the foundation for future trends.

Recently, some small market cap, low liquidity tokens have surged significantly on exchanges, a phenomenon largely driven by exchanges and project parties. While these tokens are lively, the actual difficulty of making a profit is high. However, this phenomenon also indicates that the market has reached a turning point, as it only takes a spark to ignite market sentiment, heralding the arrival of a bull market.

Therefore, it is advisable to keep an eye on the cryptocurrency market, in order to make the most of opportunities and achieve profits when the bull market arrives.

This Friday, Fed Chairman Powell's important speech to be delivered at the annual meeting is receiving significant attention from the market. Investors are hoping that he can provide clear guidance on the current economic situation and the future direction of monetary policy. This speech is expected to become an important guide for the future trends of the global financial market.

From a technical analysis perspective, bitcoin is currently in a key technical range, fluctuating between $56,000 and $58,000. Of note, within this range, the 50-day and 200-day moving averages of bitcoin intersect, with these technical levels being seen as important support and resistance levels that have a crucial impact on future market trends.

If bitcoin can break through this technical range, the market may see a new upward trend, further solidifying bitcoin's market position. Conversely, if bitcoin fails to surpass these key technical levels, the market may enter a new correction period.

Bitvavo also reminds investors that market volatility may intensify in the coming weeks. This is not only due to macroeconomic factors (such as economic data from the USA and Japan, and speeches by central bank governors at the Jackson Hole conference), but also because reduced summer market liquidity may amplify market volatility. During this period, investors should remain vigilant, closely monitor market dynamics, and avoid significant losses.

As the market enters the second half of the week, it is important to pay attention to short-term price pullbacks. If the price of bitcoin rises, altcoins may also experience pullbacks. For altcoins that have seen significant gains in recent days, it is advisable to take profits in batches to ensure gains and avoid significant fluctuations.

Furthermore, in the past two days, the storage sector has been active, and it is worth paying attention to related tokens such as STORJ, BTT, AR, BLZ, SC, VSYS, RLC, HOT, LAMB, ankr, REP, and ocean sky intl. Among these, multiple tokens had outstanding performances last year, and if there is a influx of funds again, they may perform well.

LDO and SSV in the Ethereum ecosystem have been in a long-term consolidation phase at the bottom, and spot purchases can be considered. If the market sees a rally, these tokens may also perform strongly.