After Circle's successful IPO, 7 crypto giants are racing towards their own IPOs
- FalconX: Valuation of $8 billion aiming for the NYSE
- Gemini: Secretly submitted IPO documents with a goal to list by the end of the year
- Bullish: Rumored to have a valuation of $10 billion, personally managed by the former president of the NYSE
- Kraken: Aiming for an IPO in 2026, parent company has already initiated the listing process
- South Korea's Bithumb is reportedly underwritten by Samsung Securities
- Thailand's Bitkub is preparing for an IPO
- Sun Yuchen is preparing to go public in the U.S. via a reverse merger with "TRON Inc."
Additionally, crypto custody giant BitGo plans to conduct an IPO in the second half of 2025, with a valuation of $1.75 billion.
Circle's IPO not only enhances its capital strength but also boosts its brand recognition and market influence, becoming an industry benchmark. Its successful listing has made investors more optimistic about the prospects of the crypto industry, attracting more capital inflow and accelerating the listing process for leading companies in the sector.
The Nasdaq and S&P 500 indices closed at historic highs on Friday, and it’s not surprising that 26 has predicted these indices would reach new highs. In February, a warning was issued about a potential crash due to a "black swan," and after a significant rise on April 9, the focus shifted to a rebound at 0.886, with subsequent weak pullbacks suggesting a continued bullish outlook. Historically, U.S. stocks have behaved this way, and the next target will be 1.13, with a continued bullish outlook as long as it doesn't fall back down.
This creates an awkward situation where Bitcoin has surged ahead of the U.S. market, reaching new highs before retreating to consolidate at high levels. Whether the U.S. market will follow suit remains to be seen, particularly if it faces pressure below 1.13. Based on trends from the past couple of years, it is expected to catch up, with a medium to long-term target of 180,000 to 250,000.
There’s a timeline to consider: last year's bull flag lasted over six months, and this year, if we include the rapid decline, it’s also been about six months. Interest rate cuts are expected in the second half of the year, with tariffs likely extended until September 1. The debt ceiling special measures have been extended until July 24, and U.S. national debt has surpassed $36 trillion. While new debt issuance can effectively cover the government's massive fiscal deficit, the large-scale tax reduction proposal from the unreliable government ("Big and Beautiful" plan) will exacerbate the deficit. In summary, there are still many uncertainties in July and August, so caution is advised, with more favorable conditions expected in September and October.
Bitcoin
As the week and month approach their close, volatility is likely to increase. As long as the monthly close is above 102,000, the bullish trend remains dominant. The weekly and daily charts are still operating in a flag pattern, oscillating at high levels near the upper boundary, with fluctuations of over 1,000 points.
The daily chart shows a bullish flag pattern, but the question remains whether it can break through directly or continue to maintain the flag pattern. Watch for support levels at 106,000 to 104,000; a breakdown here could lead to a drop to 94,000 to 96,000 before a rebound.
Support: 104,000—106,000
Resistance: 110,000—112,000
Ethereum
From the monthly chart, there is a high probability of closing with a doji star. The first three months formed a morning star, and this month's doji star could still be a continuation of the upward trend. Assuming Ethereum is not a failure, there is a probability of forming a large converging triangle before breaking out. After the weekly chart broke below 2,800, it has been dragged down by Bitcoin and has not effectively regained that level.
The daily chart shows a breakdown followed by a rebound, continuing to form doji stars, indicating further recovery opportunities. The rebound target remains at 2,700 to 2,880, with many altcoins also showing buying points like JUP, JTO, W…
Support: 2,111—2,200—2,300
Resistance: 2,700—2,880
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Focusing on K-line technical research, sharing global investment opportunities. Public account: BTC Trading Prince Fusu
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