According to a report by Golden Ten, a team led by Juan Correa, a global asset allocation strategist at BCA Research, stated that all typical top signals have emerged in the cryptocurrency market, including two low flow memes personally launched by Trump. They believe that Trump's issuance of coins "indicates a desire to pursue personal wealth growth, rather than sharing the profits with new buyers". Although institutional investors do not hold memes, and according to BCA's calculations, memes account for less than 2% of the entire cryptocurrency market, strategists say that the surge in memes is a precursor to a larger trend, where the market consensus on cryptocurrencies has become very optimistic: Bitcoin ETFs have become the most successful ETF issuances in history; BlackRock CEO Larry Fink stated that large investors are discussing whether to allocate 5% of their investment portfolio to Bitcoin. Fink even predicts that the price of Bitcoin may climb to $700000. The BCA team stated, "We are concerned that this fervent optimism is a signal that the cryptocurrency market is approaching its peak." They pointed out that the current profitable supply of Bitcoin exceeds 90% - historically, this proportion has typically been a sign of Bitcoin prices peaking. They also added that eight out of the top ten downloaded financial applications are cryptocurrency trading applications. In addition, the BCA team also mentioned macroeconomic concerns, including the possibility of deficit spending being lower than expected. If the US economy is colder than expected and the government is not financially responsible, it will not be conducive to Bitcoin continuing its explosive trend. "They said that if the price of Bitcoin falls to $75000, they will" buy more actively. They also pointed out that if Trump advances his plan to establish a strategic reserve of Bitcoin, it could pose a risk to his view that the price of Bitcoin has peaked.
