Bitcoin and Ethereum have experienced a slight correction but are still trading within a sideways channel, indicating strong potential for further growth. As you consider whether to buy at these elevated prices, data from Nansen reveals that the World Liberty Financial DeFi project, which is promoted by former U.S. President Donald Trump, continues to spend millions in USDC stablecoins to purchase MOVE and BTC.

On Thursday, World Liberty executed a series of transactions, spending approximately $1.4 million in USDC to acquire 2.52 million MOVE tokens. Additionally, the project completed $5 million in USDC transactions to purchase 52 WBTC tokens.

It's important to note that MOVE is the native utility token of Movement Labs. Recently, rumors have surfaced suggesting that the company is in discussions with the Government Efficiency Department, which is led by Elon Musk. Rushi Manche, the founder of Movement Labs, has previously stated that the company maintains close ties with DOGE.

In addition to these purchases, the Trump-backed DeFi project World Liberty deposited 2,221 ETH (approximately $5.9 million) into Lido Finance and contributed $5 million to the lending protocol Aave. According to SpotOn Chain, earlier this week, World Liberty acquired 830,469 MOVE tokens and 1,917 ETH, using its USDC holdings for these transactions.

Since November 30, 2024, World Liberty has accumulated over $315 million in crypto assets, which includes 63,030 ETH at an average price of $3,331 and 699 wrapped BTC (WBTC) at an average price of $105,197. Other significant acquisitions include TRX, LINK, AAVE, and ENA, with multi-million dollar purchases throughout that period.

World Liberty has also expressed its intent to enhance collaboration with traditional financial institutions, encouraging them to contribute tokenized assets to its reserves.

Regarding my intraday strategy in the cryptocurrency market, I plan to continue capitalizing on significant dips in Bitcoin and Ethereum, as I expect the ongoing bull market to persist in the medium term. For short-term trading, my strategy and conditions are outlined below.

Bitcoin

Buy Scenario

Scenario #1: I plan to buy Bitcoin today at $96,900, targeting a rise to $98,000. At $98,000, I will exit the buy position and sell on a pullback. Before entering a breakout trade, I need to confirm that the 50-day moving average is below the current price and that the Awesome Oscillator is above zero.

Scenario #2: If there is no reaction to a breakout, Bitcoin can also be bought at the lower boundary of $96,400, with an upside target of $96,900 and $98,000.

Sell Scenario

Scenario #1: I will sell Bitcoin at $96,400, aiming for a decline to $95,100. At $95,100, I will exit the short position and buy on a rebound. Before entering a breakout trade, I need to confirm that the 50-day moving average is above the current price and that the Awesome Oscillator is below zero.

Scenario #2: Bitcoin can also be sold at the upper boundary of $96,900 if there is no reaction to a breakout, with downside targets of $96,400 and $95,100.

Ethereum

Buy Scenario

Scenario #1: I plan to buy Ethereum today at $2,710, targeting a rise to $2,785. At $2,785, I will exit the buy position and sell on a pullback. Before entering a breakout trade, I need to confirm that the 50-day moving average is below the current price and that the Awesome Oscillator is above zero.

Scenario #2: If there is no reaction to a breakout, Ethereum can also be bought at the lower boundary of $2,676, with an upside target of $2,710 and $2,785.

Sell Scenario

Scenario #1: I will sell Ethereum at $2,676, aiming for a decline to $2,605. At $2,605, I will exit the short position and buy on a rebound. Before entering a breakout trade, I need to confirm that the 50-day moving average is above the current price and that the Awesome Oscillator is below zero.

Scenario #2: Ethereum can also be sold at the upper boundary of $2,710 if there is no reaction to a breakout, with downside targets of $2,676 and $2,605.