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During the weekend, the Crypto Assets market displayed a diverse trend. Bitcoin (BTC) continued the tradition of rising on Sunday, breaking through the $118,000 mark. However, market analysts expect a slight pullback on Monday, advising investors to patiently wait for the potential target of $130,000.
Binance Coin (BNB) has shown particularly strong performance, almost reaching an all-time high. Experts point out that towards the end of a bull market, exchange platform coins often experience explosive growth. Additionally, today's token generation event (TGE) for a certain wallet project is expected to further drive up the price of BNB.
Ethereum (ETH) showed a good restorative rebound over the weekend, regaining the $4,500 threshold. However, there was a pullback early on Monday. The market is focused on whether it will continue to decline this week and whether the altcoin season will arrive.
It is worth noting that several projects will face large-scale token unlocks this week, among which FTN, ZRO, and KAITO are particularly noteworthy. Especially FTN, which is expected to unlock a value of up to $91.4 million.
Another notable trend is the Ethereum staking exit. Analysts point out that there are currently over 890,000 ETH waiting to be redeemed, which may exacerbate the selling pressure on ETH.
From a technical perspective, Bitcoin shows a downward trend across all time frames (1 hour, 4 hours, 12 hours, and daily). The key intraday resistance level is at $120,500, with support at $114,000.
Overall, the Crypto Assets market is at a critical juncture, and investors need to closely monitor various factors, including token unlock events, staking exit dynamics, and overall market sentiment. In this rapidly changing environment, it is crucial to remain vigilant and moderately cautious.