The partnership between Trump Media and CRO, coupled with Nasdaq's involvement in Gemini's IPO, indicates an expanding engagement of social media and traditional finance with cryptocurrencies. However, significant outflows from Ethereum ETFs are raising concerns about market sentiment, exacerbated by macroeconomic uncertainties. Bitcoin's performance and the Federal Reserve's monetary policy remain key determinants. AVAX maintains a neutral market bias, highlighting the critical importance of ongoing ecosystem development.

・Trump Media enables converting "Gems" on Truth Social to Cronos (CRO) tokens Trump Media's announcement of an update linking its Truth Social platform's rewards program with cryptocurrency signals a growing integration between social media platforms and blockchain technology. Specifically, the mechanism allowing "Truth gems," perks for paid subscribers, to be converted into CRO tokens could lead to the creation of practical use cases. This may drive increased demand for CRO tokens and potentially encourage the implementation of similar features on other social media platforms, possibly having an indirect impact on other networks like AVAX. However, the direct impact of this news alone on AVAX's price is likely limited, though it can be viewed positively in the context of broader cryptocurrency adoption. ・Nasdaq invests in Gemini's IPO Gemini welcoming Nasdaq as a strategic investor for its upcoming IPO indicates deepening involvement from traditional financial markets within the crypto industry. The participation of a stock exchange like Nasdaq in a crypto exchange's IPO could enhance the credibility of the entire sector and foster broader institutional investor participation. This may also create opportunities for major blockchain ecosystems like AVAX, potentially leading to future capital inflows from institutional investors and the development of more sophisticated financial products. Should Gemini's IPO succeed, it could contribute to an improved sentiment across the entire crypto market, positively influencing AVAX's price. ・Ethereum ETFs see $1 billion in outflows over six days Significant outflows from spot Ethereum ETFs suggest that macroeconomic uncertainties and fading expectations of interest rate cuts are impacting investor sentiment. As Ethereum is a key driver of the overall crypto market, continued outflows from its ETFs can lead to a deterioration in broader market sentiment. This could spill over to altcoins like AVAX, exerting downward price pressure. Especially during periods of declining market liquidity, a reduced appetite for risk assets overall would present a headwind for AVAX's price appreciation. ・Vietnam introduces a five-year pilot program for its crypto market Vietnam's initiation of a pilot program for its crypto market is noteworthy as a move towards regulatory development and market cultivation within an emerging economy. Although it will be implemented under strict management, this initiative is expected to clarify rules regarding cryptocurrency trading and issuance within Vietnam, fostering healthy industry development. In the long term, this could contribute to the expansion of the overall crypto ecosystem and potentially increase opportunities for new market development for scalable blockchains like AVAX. However, the effectiveness might be limited if the regulations prove overly stringent. ・Solana Following Ethereum? "V-Shape" Chart Pattern Targets $300 SOL Price The analysis suggesting Solana's price is showing a V-shape recovery pattern, targeting $300, reflects the momentum within the Solana ecosystem. Solana attracts numerous projects in the DeFi and NFT sectors due to its high transaction processing capability and low fees, making it a platform often compared to AVAX. Solana's price surge could serve as an incentive for technological innovation and ecosystem expansion for competing blockchains like AVAX. It also signals increasing interest in altcoins across the market, from which AVAX could potentially benefit. ・Bitcoin reaches $113,000, analysis suggests a "return to highs" driven by potential Fed rate cuts The news of Bitcoin reaching $113,000 and analysis expecting a "return to highs" based on anticipated Federal Reserve rate cuts underscores the significant impact of macroeconomic factors on the crypto market. The Fed's monetary policy, particularly rate cuts, tends to increase overall market liquidity and stimulate investment appetite for risk assets. A Bitcoin-led rally could improve overall market sentiment, potentially driving inflows into altcoins, including AVAX. However, data from options and derivatives markets suggests traders remain cautious, indicating that sustained upward movement will require further catalysts. ・BBVA leverages Ripple for institutional Bitcoin and Ethereum custody in Europe Spain's major bank, BBVA, utilizing Ripple's technology for its institutional custody services for Bitcoin and Ethereum in Europe provides evidence of traditional financial institutions actively adopting blockchain technology and crypto services. The adoption of Ripple's technology, considering its extensive network and track record, signifies progress in building infrastructure for institutional investors. This could enhance the potential for future service utilization by institutional investors for platforms like AVAX. Banks expanding their crypto custody services is crucial for increasing the overall credibility and maturity of the crypto market. ・DOGE Price Prediction Upon Dogecoin ETF Approval Speculation about the imminent approval of a Dogecoin ETF, along with associated price predictions, suggests a vibrant memecoin market and the potential impact of ETF approvals on the broader altcoin market. The success of a DOGE ETF could potentially pave the way for ETF approvals for other memecoins and altcoins, stimulating new capital inflows into the crypto market as a whole. AVAX could also serve as a reference case in fostering a passionate community within its ecosystem, similar to DOGE, and in aiming to capture a broader investor base through potential ETF approvals. 【Overall Summary】 Yesterday's crypto market was marked by Bitcoin's price increase and Solana's bullish chart pattern. Conversely, significant outflows from Ethereum ETFs and macroeconomic uncertainties introduced caution across the market. While the expanding involvement of traditional financial institutions in the crypto space is a positive sign, the direction of Federal Reserve policy remains a key factor influencing market sentiment. Considering these elements, AVAX, while likely fluctuating with the overall market trend, may exhibit relative strength by highlighting its ecosystem expansion and technological advantages.

Sustained outflows from Ethereum ETFs could contribute to deteriorating sentiment in the broader cryptocurrency market, creating headwinds for AVAX. The Fed's monetary policy, particularly receding expectations of interest rate cuts, may dampen investor appetite for risk assets in general. The key support level is the recent low of $23. A break below this level heightens the risk of further downside. Macroeconomic uncertainties, particularly inflation and interest rate trends, warrant ongoing monitoring.

**Outlook** In the short term (24-48 hours), minor fluctuations or a sideways trend are expected, closely tracking Bitcoin's price action and overall market sentiment. Over the medium term (1 week), developments surrounding Ethereum ETFs and announcements regarding the Federal Reserve's monetary policy are expected to dictate market direction. The ongoing strength of Solana may exert a positive influence. Key catalysts to monitor include major Bitcoin price swings, cryptocurrency-related news emerging from traditional financial institutions, and significant updates within the AVAX ecosystem.

The AVAX market is currently characterized by mixed signals, with neutral technical indicators and positive fundamentals like growing institutional adoption, countered by negative factors such as outflows from Ethereum ETFs and macroeconomic uncertainty. Overall, the market lacks a clear direction and is heavily influenced by the movements of Bitcoin and macroeconomic indicators. A neutral bias is appropriate at this time, although continued outflows from ETH ETFs could increase bearish pressure. As a practical trading strategy, it is prudent to wait for a clearer market direction or to limit activity to short-term range trading. For those considering entry, it would be advisable to wait for a pullback towards the support level around $23, or to target a breakout above the resistance at $26 for further upside potential. If entering around the $23 support level, a stop-loss should be set below $22.5, with take-profit targets ranging from $27 to $30. Conversely, for an entry anticipating a move above $26, consider setting a stop-loss below $25.5 and take-profit targets between $30 and $35. Moving forward, monitor key developments such as a strong Bitcoin uptrend towards $113,000, increasing expectations of Federal Reserve rate cuts, or a reversal in ETH ETF outflows. Positive shifts in these areas could lead to AVAX following suit with upward momentum. From a risk management perspective, consistently implementing appropriate stop-loss orders and diversifying risk across the overall portfolio are crucial. Avoid excessive leverage and be prepared for abrupt market volatility. While market uncertainty remains high, the potential for growth within the broader cryptocurrency ecosystem, coupled with AVAX's own technological advantages and ecosystem expansion prospects, offers long-term optimism. Continue to approach the market with calm analysis and disciplined trading to capitalize on opportunities.