Matrixport: The crypto market is currently mainly focused on three narrative directions: Bitcoin, Ethereum, and Trump-themed meme coins

ChainCatcher news, Matrixport released a report stating that the cryptocurrency market is currently mainly focused on Bitcoin, Ethereum, and Trump-themed meme coins. The decline in the U.S. inflation rate may drive Bitcoin up due to ETF fund inflows, and the SEC is about to approve the Ethereum spot ETF, with traders positioning themselves in advance. Trump's support for cryptocurrency is boosting the rise of related meme coins.

The report predicts that as the presidential election in November 2024 approaches, if Trump, who supports cryptocurrency, leads, the price of Bitcoin will rise. Since the release of the report "Trump Could Be This Year's Biggest Driver of Bitcoin's Surge," the market capitalization of Trump-themed meme coins (Trump-USDT) has tripled to $600 million.

The report points out that support for cryptocurrency in the U.S. political arena has significantly increased. After the SEC approves the ETF application, the perpetual futures market saw an influx of $4 billion in funds. Historical experience shows that before Ethereum ETFs begin trading, investors typically profit from long positions in Ethereum.