Bullish momentum towards Bitcoin's $145,000 target is boosting overall market sentiment. The Swedish Parliament's proposal to consider Bitcoin as a reserve asset enhances its legitimacy as a step towards national-level adoption. Furthermore, the valuation milestone achieved by AI leader OpenAI suggests potential blockchain synergies, likely increasing interest in platforms like SUI. Based on these factors, the overall market bias is assessed as 'bullish'.

・Bitcoin Eyes $145,000 Target After Surpassing Six-Week High Bitcoin recorded a six-week high of $119,500, bringing a retest of its year-to-date peak at $124,500 into focus. Some analysts, referencing classic chart patterns, suggest a potential ascent to $145,000 in the coming months. This bullish outlook could improve overall market sentiment, catalyzing capital inflows into other altcoins, including SUI. Bitcoin's price appreciation is particularly expected to bolster the market's general risk-on sentiment, stimulating investment appetite for newer projects like SUI. Leveraging Bitcoin's momentum, SUI may see its price propelled higher due to its scalability and development progress. ・Swedish Parliamentarians Propose Consideration of Bitcoin Reserves A group of lawmakers in the Swedish Parliament has proposed that the government explore establishing strategic Bitcoin reserves as a hedge against inflation and for diversifying state assets. This initiative represents a potential move towards national-level Bitcoin adoption and could significantly boost institutional confidence. National consideration of Bitcoin as a reserve asset may further legitimize the cryptocurrency, potentially encouraging similar actions by other countries. Consequently, investments in altcoins like SUI could be perceived as less risky, attracting greater interest from institutional investors. ・Bitcoin Rises Amidst US Federal Government Shutdown Bitcoin reached a two-week high despite the commencement of a US federal government shutdown. This resilience is attributed to weakness in the US labor market, which has boosted demand for risk assets, thereby offsetting the shutdown's impact. While government shutdowns typically heighten economic uncertainty, Bitcoin highlighted its safe-haven characteristics, attracting capital inflows instead. This suggests that macroeconomic instability does not necessarily translate negatively across the entire crypto market, potentially enabling SUI to capitalize on this risk-on sentiment and increase its price. ・OpenAI Achieves $500 Billion Valuation, Becomes World's Largest Startup AI development firm OpenAI has secured a valuation of $500 billion, positioning it as the world's largest startup. The advancement and widespread adoption of AI technology hold significant potential for deeper integration with blockchain technology. The convergence of AI and blockchain could facilitate the automation of smart contracts, sophisticated data analysis, and the creation of novel use cases for decentralized applications (dApps). SUI, with its high transaction processing speed and scalability, presents a promising platform for AI-related dApp development. OpenAI's success may accelerate investment in the AI sector, indirectly increasing interest in blockchain platforms like SUI. ・Tether (USDT) and USD Coin (USDC) Dominance Declines, Signalling Shifts in the Stablecoin Market The market share of Tether (USDT) and USD Coin (USDC) is declining, indicating a potential end to their duopoly in the stablecoin market. This trend suggests the emergence of new stablecoins and a growing preference for diversified investments across various stablecoin options. Stablecoins play a vital role within the SUI ecosystem as well. The decrease in dominance indicates room for growth for more diverse, potentially SUI-native or other altcoin-based stablecoins, which could enhance liquidity and stimulate trading activity within the SUI ecosystem. ・XRP Forecast: October Poised to be the Strongest Month in 2025 XRP has solidified support at $2.80, with technical analysis indicating a potential descending triangle breakout aiming for $3.66 following a 23% rally. Furthermore, the potential approval of a spot XRP ETF could serve as a catalyst for the October market. Such upward momentum for XRP could improve sentiment across the broader altcoin market, potentially stimulating interest in other altcoins like SUI. Specifically, bullish movements from major altcoins like XRP are expected to enhance overall market liquidity and positively influence investor sentiment towards SUI. Overall Summary Bitcoin's price surge, the consideration of national-level Bitcoin adoption, and the prevailing risk-on sentiment during the US government shutdown are collectively fostering a bullish market sentiment. The rapid advancements in AI present potential synergies with blockchain technology, while the diversification within the stablecoin market is expected to enhance liquidity in the SUI ecosystem. These factors suggest considerable upward pressure on SUI's price in the medium to long term. However, overall altcoin market trends and the progress of individual project developments will continue to be influential factors.

Risks include macroeconomic uncertainties and the technological and competitive challenges stemming from rapid advancements in the AI sector. SUI-specific risks include differentiation from competing Layer 1 (L1) blockchains, potential development delays, and regulatory developments. Key support levels are $3.00, the recent low, and $3.50, a significant psychological level. A break below these levels signals potential further downside risk.

In the short term (24-48 hours), the upward trend is expected to continue, supported by existing bullish fundamentals and technical indicators. However, a brief consolidation phase should be considered as the RSI approaches overbought levels. In the medium term (1 week), Bitcoin's momentum and positive AI-related news could further boost SUI's price. Progress in ecosystem development is expected to be a key catalyst.

In conclusion, the SUI market is exhibiting strong bullish sentiment. Macroeconomic and technological tailwinds, including Bitcoin's robust uptrend, the potential for national-level cryptocurrency adoption, and the convergence of AI and blockchain technology, provide strong fundamentals poised to drive SUI's price appreciation. Technically, the Relative Strength Index (RSI) remains within a healthy range, indicating room for further upside potential without signaling market overheating. As a specific action plan for investors, staggered entries are recommended: consider buying on pullbacks within the $3.50-$3.80 support zone, or enter incrementally upon confirmation of a clear breakout above $4.20. Set short-term profit-taking targets at $4.50, with mid-term objectives aimed at the $5.00-$5.50 range. Crucially, maintain strict risk management by placing stop-loss orders below the $3.00 level. This week, particular attention should be paid to Bitcoin's market movements and news regarding developments within the SUI ecosystem. Strategic trading points involve considering purchases within the $3.50-$3.80 support band and aiming to secure profits around the $4.50 and $5.00 levels. From a risk management perspective, adhering to the established stop-loss points and ensuring diversification across the overall portfolio are paramount. Employing these strategies allows for capitalizing on market opportunities while effectively minimizing potential risks.