Bitcoin, under the Trump effect, has continued to hit new highs, hitting a high of 93265 before falling back under pressure. Ethereum also hit the 3400 line of strong pressure before encountering resistance and falling back. The altcoins generally followed suit and made up for the rise. However, the bull market carnival still belongs to Bitcoin alone. Except for a few new public chains and meme coins, most of the currencies have limited rising activity, but they are not soft when they fall back. The profit-making effect of the market has not yet arrived collectively... Despite this, the meme coin sector that we have repeatedly emphasized, led by Pepe, has significantly outperformed the average increase in the market and made huge profits. Congratulations!
How will the market develop in the future? We think that at this stage, from a general perspective, it is definitely not the end of the bull market, but only the middle of the bull market. There is still a lot of room for everyone to go!
From the perspective of the mid-line, it is at the end of the first major pull-up and is about to enter a shock consolidation phase. The downward retracement position first looks at the upper edge of the gap left by CME, which is roughly around 82,000. If this gap is not filled, then Bitcoin will remain strong and may set a new high. If it is filled, it is not a big problem. The retracement position will be deeper, and it may go to 79,000 to find support, and then rise again after stabilizing. The position of Ethereum still depends on 2,800, which is a strong support, and it is a position to cover the position of the cottage. But in any case, if Bitcoin sets a new high in the short term, it is necessary to be more careful. The market is likely to enter a larger level of adjustment. We will analyze it in detail when we reach that stage.
In terms of on-chain data, USDT's parent company Tether has issued another 2 billion US dollars, of which 1 billion was issued on the Tron chain and another 1 billion was issued on the Ethereum chain. It is reported that these billions of newly-added U have all been transferred to major platforms such as Binance and Bitfinex, waiting to enter the market. Therefore, the funds in the market are still sufficient, and as long as the timing is right, it can support the market to continue to develop upward!
In terms of sector selection, the meme sector is expected to take a temporary break, but stocks like dogs that have been thoroughly washed but have not risen sharply can be entered at an appropriate time. The AI sector must be paid attention to. Nvidia will release its third quarter financial report for fiscal year 2025 in the early morning of November 21, Beijing time. Many institutions have raised Nvidia's target price. Analysts generally believe that the development of AI applications is still in its early stages, and the company's new chips and other businesses will drive performance upward. This is likely to stimulate the AI sector. There is another sector that must be mentioned, that is the RWA sector. Although this sector has been silent for a long time, I think Trump's coming to power this time will have a greater stimulus to this sector, because the Trump family is rumored to be likely to launch a tokenized real estate project. The project name is speculated to be "World Liberty". Trump once proposed a Bitcoin strategic reserve plan to repay US Treasury bonds. Since then, the Trump family has hinted that it will release major cryptocurrency news. The market generally speculates that it will be this project. After Trump came to power, the RWA sector is likely to usher in a batch of favorable and news stimulations, which is worth lurking. The last one is the gamefi sector. Many coins in this sector have fallen sharply, so it is not advisable to continue to be bearish. The recent trend has also been relatively resistant to declines, so you can pay attention to it!
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