Orange Evening Analysis 5.9 I remembered, I remembered everything. I am not a $SOL fanboy, not a $BSC bootlicker; I am a loyal Ethereum guardian! Bitcoin has once again climbed above $100,000 after three months, and the upward trend hasn’t stopped yet. Looking back at Monday’s Bitcoin price of $93,000, we can see that the cumulative weekly increase has already exceeded $10,000. If this growth rate continues, we might see an all-time high (ATH) for Bitcoin next week. It must be said that Arthur, the little bear, predicted this correctly again. A week before Labor Day, he mentioned that it might be the last chance to buy Bitcoin below $100,000. Looking at it now, he was right. Moreover, it’s evident that the major players haven’t even started to exert their influence yet. Last night, Bitcoin ETF inflows were only $117 million, a figure far from what we’d expect during a breakout. I remember when Bitcoin first broke $100,000 last year, ETF net inflows were around $1 billion every night for a week. This shows that this breakout was much easier, happening effortlessly with no significant resistance. This also implies that the ceiling will likely be broken in the future. Over the next week, Bitcoin might push towards $110,000, and if institutions start competing, $120,000 isn’t out of the question. Since Trump took office on January 20th, Bitcoin has been strongly tied to policy, especially during the tariff wars and Powell’s pressure period. Bitcoin was forced to align with the stock market until Trump softened his stance and placed Bitcoin on the same level as gold. It was only then that the global market realized Bitcoin has both hedging properties and a strong value appreciation logic. With subsequent state-level strategic reserve bills passed and Federal Reserve expectations, the market has now reached a consensus: Bitcoin is the most perfect investment asset at this stage, bar none. Now, let’s talk about Ethereum. This time, it’s truly shining. At the time of writing, it’s about to break $2,400. Yesterday, we were still lamenting that Ethereum’s reputation seemed to have faded, as the massive Pectra upgrade didn’t move its price. This upgrade is no small matter; even the official evaluation ranks it as the most significant upgrade since the Merge and Duncan upgrades. The upgrade includes raising the staking cap to 2,048 ETH, account abstraction upgrades, L2 expansion enhancements, and EVM improvements. It’s a return to its roots and a boost to competitiveness. However, the market didn’t respond yesterday, with only a slight increase. But as the saying goes, good wine needs no bush. Today’s surge makes up for it, and people are realizing again that ETH remains one of the two pillars of crypto. CME contracts, spot ETFs, global consensus—Ethereum has everything Bitcoin has. Even as a strategic reserve, Trump’s previous tweets implicitly acknowledged ETH’s stability, placing it in the same league as Bitcoin. So, regardless of Ethereum’s future direction—1) simplifying L1 to Bitcoin’s level according to Vitalik’s vision, or 2) replacing EVM with RISC-V to compete directly with Solana, Sui, and other single-chip solutions—Ethereum will not lose its competitiveness. Although ETH diamond hands haven’t kept up with the broader market in the past six months, I believe that in the long run, ETH will not disappoint. Instead of being a $SOL fanboy or a $BSC bootlicker, it’s better to be a loyal Ethereum guardian. As for altcoins, today can be considered a big comeback day. Many altcoins have doubled in a single day, especially zoo-themed memes like $NEIRO, $MOODENG, and $PNUT, which have all seen doubling trends in the past two days. Coins like $PENGU, $PEPE, and $POPCAT have also risen over 30% in a single day. The ETH ecosystem is also surging across the board, with DeFi leaders like $EIGEN, $ETHFI, $SSV, and $UNI seeing gains of around 30%. The AI sector has risen 4-5x from the bottom, with the leader $VIRTUAL climbing from a low of $0.4 to $2.18, a gain of over 5x. $AI16Z has performed slightly worse but still achieved a 3.6x increase from the bottom. Coins like $AIXBT, $KAITO, $GOAT, and $ARC have all risen 3x from the bottom, with gains of over 30% from last night to today. It’s no exaggeration to say that the AI agents bull market is back. The entire sector’s market cap has returned above $10 billion. Judging by the resilience of this rebound, agents remain a key focus for capital. It’s likely that the main narrative for this altcoin cycle will still revolve around this sector. Meanwhile, $BSC and $SUI ecosystem projects have also performed well recently. Binance Wallet, through its Alpha launch model, now accounts for 80% of on-chain wallet transaction volume. The ecosystem has formed a stable on-chain and CEX user base through various empowerment methods, making BNB a true application chain. Leading memes on the chain like $MUBARAK, $BANANA, and $BROCCOLI714 are all at the top of the gainers list. $SUI is also performing strongly, aiming to break its ATH. Its recent gains are roughly 10x that of typical altcoins like ETH. Coins like $ZK, $BERA, $PI, and $HYPE have also performed well recently. In summary, the market has once again entered a familiar altcoin frenzy. If Bitcoin can hold above $100,000 for a longer period, the altcoin bull market we’ve been anticipating might truly arrive. We’ve endured the toughest times, and things will only get better from here.