Foreign media reports that, amid the continued decline in the cryptocurrency market, one analyst believes it's too early to confirm a bottom. In his judgment, Bitcoin may continue to weaken in the coming months, and a true market bottom has not yet formed.
He mentioned that many altcoins may struggle to weather this cycle during this adjustment. Compared to chasing high-volatility, small-cap tokens, he prefers assets with a strong ecosystem, existing institutional participation, and continued expansion potential.
SUI was compared to the early version of Solana.
In this analysis, SUI is listed as one of the key targets for observation. Although the network has recently faced scrutiny due to outages and market sentiment is bearish, this analyst believes it shares similarities with Solana during the 2022 bear market.
At the time, Solana suffered a severe blow due to multiple outages and the FTX incident, with its price falling by more than 95% from its peak. However, Solana subsequently gradually repaired its ecosystem and resumed growth, eventually returning to the market spotlight. The article suggests that SUI may follow a similar path as its user base expands and its network continues to develop.
Bitcoin and Ethereum remain core assets
Among mainstream assets, this analyst still views Bitcoin as a relatively stable allocation. He believes that even if prices continue to be under pressure in the short term, Bitcoin remains one of the main assets that institutions continue to increase their holdings of, and it is more suitable as the core of a portfolio in a volatile environment.
Ethereum is also included in the key list, primarily because it continues to dominate the fields of DeFi, stablecoins, and real-world asset tokenization. The article notes that as Ethereum upgrades progress, more financial activities continue to migrate on-chain, solidifying its long-term position.
Solana and XRP are gaining more attention from institutions.
Solana continues to attract attention due to factors including rising ETF demand and anticipated network improvements such as the Alpenglow upgrade. Analysts believe these factors will help increase market focus on its future performance.
However, XRP ranks higher on his June priority list. His reasons include inflows into spot ETFs, increased institutional adoption, and escalating discussions on US crypto legislation, particularly the policy expectations surrounding the Clarity Act.
The article also mentions that XRP Ledger's recent tokenization attempts have, to some extent, strengthened XRP's long-term narrative. Overall, this analyst does not believe the market has bottomed out, but suggests that gradually positioning oneself in BTC, ETH, SOL, XRP, and SUI during periods of panic may make it easier to capture relatively strong assets in the next cycle.
