Today, all cryptocurrencies are moving around this man. Those who are bearish are okay, but we always say this round of the bull market is not over yet. Today, Bitcoin once again set a new historical high of 75,400 USD, and this is just a beginning.
Now, we will wait and see the trends of altcoins:
The first phase peak for Bitcoin occurred after the approval of the Bitcoin spot ETF, and Bitcoin's price reached 73,777 USD.
The second phase is now. After Trump is elected president, Bitcoin's price will reach another peak at this stage. The exact price is still unknown; we will see if it corrects or breaks through later.
The third phase will occur when the US starts QE and launches quantitative easing. According to market expectations, QT is expected to end in the first quarter of 2025, welcoming the arrival of QE. This phase is when liquidity increases, funds overflow, and the real altcoin bull market begins.
What can Trump's victory bring to cryptocurrencies?
Market aspects:
This short-term correction is also normal, but the correction will continue to push higher. So, regarding how high Bitcoin can go in this second phase, we can make judgments based on these two scenarios.
The first scenario is a direct correction for Bitcoin here, with 75,400 being the peak. The next support levels to watch below are 70,000-68,800 USD, which is a short-term support position for buying.
The second scenario is that this is not the peak; it will continue to push higher, and Bitcoin is likely to break through to around 80,000 USD. In this case, Bitcoin can be bought during the correction at 72,300-71,800 USD.
Bitcoin's market value percentage remains high; altcoins still need time.
The market value of altcoins continues to decline, unable to compare with Bitcoin's market value, and the exchange rate keeps hitting new lows. This situation is likely to persist unless liquidity increases significantly, which may require multiple interest rate cuts from the Federal Reserve, and QT could end in the first quarter.
Then the new quantitative easing will arrive, and that will be the time when the altcoin bull market truly begins. I think this phase might coincide with what we mentioned at the beginning, and perhaps we won't have to wait too long from this moment.
In the short term, it remains strong here, as expectations for Trump's election have not yet dissipated. We still need to watch the reaction of the US stock market tonight, and currently, US stock futures are in a big surge, which also provides support for the Bitcoin price correction.
Therefore, we always say that the bull market is not over yet; this is another beginning. Next, Bitcoin will reach 100,000 USD, and it will happen in this round of the bull market. Just hold your chips well.
So, is the long-awaited altcoin season finally coming after two years?
1. Today, Ethereum broke through the resistance level of 2,820 USD, and the DeFi sector also rose sharply, with funds beginning to flow from Bitcoin into the Ethereum ecosystem, causing a significant drop in BTC.D.
2. The ETH/BTC exchange rate has begun to stabilize. This trend change is very important and may mark the end of the three-year decline period of ETH relative to Bitcoin, entering a period of full strength for ETH.
3. The market's focus is shifting from inscriptions to meme coins, and now the DeFi sector has become the new focal point of attention.
4. Given that ETH has broken through the key resistance level of 2,820 USD, it is not advisable to short the market in the short term. Consider buying ETH in moderation (but also be wary of false break risks). If the weekly K-line closes with a substantial breakthrough, it might be worth considering fully investing in ETH and DeFi projects.
