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(Important: SOL Experience Summary) The ETF President: Frank and several institutions have submitted the S-1 amendment for the spot SOL ETF, which may be approved within two weeks.
(Special note: On September 26, SOL's multiple dips in the 4-hour timeframe have held the 190 level. If the ETF is truly approved within the next two weeks or 30 days, SOL will reach new highs, targeting between 260-300.)
(The average cost of the large holders' increased positions is between 150-190, and the overall average cost is basically maintained around 175. Currently, large holders do not have much profit space in this range due to cost accounting and capital occupation costs.) In summary, it can be concluded that chips between 180-190 for SOL can be freely increased, as there is basically no downward space left.
Recently, institutions have significantly increased their spot holdings of ETH, with costs roughly between 3600 and 3950, averaging around 3750. Therefore, the actual cost accounting is around this range. If you want to short, the pressure below is expected to be quite large, and currently, the shorting range is too small with high costs. October will likely see a historical high near 5000.
The data above for BTC shows that it holds 639,835 BTC, with an average cost of 73,971 dollars.
The costs for other institutions and large holders are basically around $10, after all, the mining cost is there. So many people say that Bitcoin should drop to $60,000, which is similar to the mining cost of gold being there. Bitcoin's current market value is only $2 trillion, while the total amount of gold is $25 trillion. So how will you understand this data when you see it? There will be pullbacks for Bitcoin, but I estimate that a very large range is unlikely. Therefore, partners who want to short should think for themselves.
Let's summarize. In the short term, BTC, ETH, and SOL have been clearly discussed. Personally, I think there are a few events to pay attention to in October. The non-farm payroll data from September will be released on Friday, and we need to see if there are any new developments regarding SOL's ETF. Based on the current macroeconomic situation, there is a 90% chance of an interest rate cut happening in October, with the cut likely being 25 basis points. However, we need to wait for the data on Friday as a definitive indicator. For Bitcoin, if the price is around 10, it's a good time to buy long positions without hesitation. For ETH, it's also a good opportunity to enter long positions around 3800. As for SOL, I've been in this game for over ten years, and after going around in circles for years and losing a few hundred coins, I now fully understand human nature and the market.
Finally, let me leave you with a word: The essence of contracts is not to get rich quick, but to provide you with a continuous income. What is amplified is your capital ability, not your greed. Never go in heavily; always give yourself 10 chances to average down. The market is there every day, but you never know if you will be there.
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