From Memes to Bitcoin: Huobi HTX's "Fire Partner 1+1" Decodes Crypto Trends Amid Bearish Sentiment
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From Memes to Bitcoin: Huobi HTX's "Fire Partner 1+1" Decodes Crypto Trends Amid Bearish Sentiment
HTX's new program "Fire Partner 1+1" invited prominent crypto KOLs including Baili, Sunova Taichu, Yuanliu, and Big Brother to share their insights on topics such as mainstream market trends, and the opportunities and challenges of Meme coins, under the theme "Market Pulse: Challenges, Opportunities, and Future Outlook."
Navigating Web3 tides with focused insights
Recently, HTX's new program "Huoban 1+1" invited prominent crypto KOLs including Baily, Sunova Taichu, Yuanliu, and Big Brother to discuss topics such as mainstream market trends, and the opportunities and challenges of Meme coins, under the theme “Market Pulse: Challenges, Opportunities, and Future Outlook.”
Current Market Sentiment and Sector Observations: Opportunities Amid Caution
Regarding recent market conditions, guests generally observed a cautious, even pessimistic sentiment, describing it as an “emotional bear market” or a “sentimental trough within a structural bull market.” This sentiment primarily stems from insufficient macro liquidity, influence from U.S. stock market movements, potential policy risks, and declining trust. Baily pointed out that on-chain liquidity has also been locked due to “holding coins for gains,” intensifying the sense of depletion. Sunova Taichu added that the “Fear & Greed Index” has dropped into the fear zone, reflecting the market’s risk-averse mindset.
Under this backdrop, most guests recommended adopting a defensive strategy. Both Big Brother and Yuanliu expressed reservations about most Meme coins, viewing them as lacking intrinsic value, and advised investors to “hold cash and wait” for better buying opportunities. Yuanliu further noted that even VC-backed projects face difficulties in real-world implementation, making blind participation unwise. For on-chain participants, exploring emerging sectors could still offer potential.
However, opinions diverged on the core question of whether a bull market is still ongoing:
- Bearish view: Baily believes current liquidity cannot support a broad bull market; Bitcoin can only oscillate at lower levels, while altcoins struggle to follow and are even being “drained.” The market needs to break its current state to progress.
- Structural optimism: Despite short-term pessimism, Yuanliu, Sunova Taichu, and Big Brother still believe the foundation of the bull market remains intact. Yuanliu continues dollar-cost averaging into Bitcoin, arguing that although weak altcoin performance disappoints users, the fundamental bull thesis hasn’t changed. Sunova Taichu believes sustained ETF buying pressure and the cost floor created by Bitcoin’s halving provide support, with the current dip serving as buildup for future narratives. Big Brother not only firmly believes Bitcoin’s long-term price target will reach high levels (over $300,000), but also observed institutions accumulating BTC during the recent period (March 24–30), contrasting sharply with retail selling. He maintains the bull market is still alive, though the bottom may require forming a “double W” pattern, and predicts there will definitely be “no altseason” this cycle.
In terms of sector selection, while short-term caution prevails, long-term strategic positioning still exists. Sunova Taichu clearly stated that although Meme coins offer low-barrier entry, he sees greater long-term potential in RWA and AI+Blockchain, which enhance Web3’s financial attributes and real-world application prospects.
Meme Coin Frenzy: Opportunities and Challenges Coexist
On the topic of Meme coins, Sunova Taichu believes both opportunities and challenges exist. The opportunities lie in their low entry barrier, high virality, and retail-driven nature—especially events tied to figures like Trump attracting attention beyond the crypto sphere. However, challenges include information asymmetry and the risk of total loss (“going to zero”), leading him to admit he “dare not hold dog coins overnight.”
Yuanliu noted that a successful Meme coin requires fun, strong community consensus, and contagious spreadability. He believes opportunities in Meme coins always exist, as they represent a form of decentralized culture and are a rite of passage for on-chain players, though participants must possess strong judgment.
Baily views Meme coins as “seasoning” for the market rather than the main course; without practical applications demonstrating core value, they will ultimately devolve into PVP (player-versus-player) games.
Bitcoin and Ethereum: Current State and Prospects
On the future outlook for Bitcoin and Ethereum, Yuanliu believes Ethereum holds long-term promise due to Vitalik Buterin’s talent potentially driving breakthroughs. However, Ethereum’s current underperformance is largely due to the migration of Meme coin enthusiasm toward Solana and BNB Chain. He revealed that institutions continue accumulating, advising investors to participate as hunters rather than prey.
From a logical standpoint, Baily argues that Ethereum laid the foundation of the crypto ecosystem through smart contracts, spawning innovations like NFTs and DeFi. As long as these ecosystems persist, Ethereum will not disappear.
Big Brother forecasts Bitcoin will gradually rise amid volatility, while Ethereum has not yet bottomed and might fall to triple digits. He emphasized his strong hope for HTX to return to the ranks of the top three exchanges.
Sunova Taichu believes Ethereum carries countless dreams and efforts and won't perish, though its price movements are driven by macro narratives and market expectations. While he currently doesn’t hold large positions in Ethereum, he remains confident in its ecosystem advantages.
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