With the results of the U.S. election coming out, Trump has won, and Bitcoin surged significantly. It skyrocketed from around 69,000 to over 76,000, with an increase of over 7,000 points in a short time, demonstrating extremely strong upward momentum. Bitcoin experienced a pullback today, with Ethereum once again strongly rising in the morning. Bitcoin reached around 76,000 points but then retraced to a low of 74,450, while Ethereum pulled back from the morning's 2,880 to around 2,810.
Currently, the market is dominated by Bitcoin, with other coins showing significant volatility. For short-term operations, it is more advisable to position at low levels during pullbacks rather than blindly chasing prices, as chasing high may encounter the risk of retracement. Recently, ENS and LDO have shown good performance, and as potential targets, they are more attractive in terms of capital flow and suitable for medium to long-term holding. Currently, Bitcoin has a short-term rebound opportunity around 74,500. Relatively speaking, Bitcoin remains the most certain short-term trading target for the day. As long as Bitcoin can stabilize above 73,777, or even break through 80,000, the rise of altcoins may become more robust.
Market volatility has increased, and the battle between bulls and bears has become more intense. Clearing data shows that despite Ethereum's rise in the early session, the bulls actually suffered greater losses, indicating that contract traders have become more aggressive.
From a broader trend perspective, the market has clearly entered a bull market phase. For spot investors, it is advisable to maintain patience with their positions. For contract trading, it is suitable to enter during pullbacks; it is not recommended to chase prices upward to avoid falling into the trap of buying high and selling low. Recently, the outstanding performance of the LSD sector and the DEFI track also warrants attention to leading projects like RWA, SSV, AAVE, ENA, as well as mainstream coins like OP, ARB, ZK, and STRK that have potential, especially the trading opportunities related to ETH.
There is a rotation effect in market funds. If the assets you hold have not risen temporarily, it is advisable to maintain patience, avoid switching positions arbitrarily, and stick to holding the spot assets you have confidence in. Short-term operations should continue to focus on positioning at low levels, waiting for the market to provide upward opportunities.
Additionally, at 3 AM today, the Federal Reserve will hold a monetary policy meeting, and a 25 basis point rate cut is expected. If the rate cut is confirmed, risk assets may be boosted, pushing Bitcoin further upward. Therefore, if Bitcoin pulls back during the day, consider boldly increasing positions. Currently, Bitcoin's upward trend has just begun.
The A-share market also performed strongly, pulling back to 3,356 today before closing at a high of 3,470. Market sentiment is good, and breaking through 3,700 points is just around the corner. For coins like CFX, it is recommended to continue dollar-cost averaging. The current price is around 0.15, which offers a better cost-performance ratio compared to the previous high of 0.21. Increasing positions during this low-price period is a good choice.
Summary
The high closing position of yesterday's big bullish candle indicates that the selling pressure above is not significant. The current pullback is a normal accumulation process, and after nearly 8 months of consolidation, the market is expected to welcome a harvest period in the next six months. The difficult days are over; just continue to hold patiently.
