So in December, will it follow the previous pattern of a pullback after a rise, or will it be a complete washout?
First, regarding Bitcoin:
Based on the current market cap ratio, there may still be some room for a pullback below. Of course, this also indicates that altcoins have a certain room for a rebound, as the market cap ratio of Bitcoin decreases, the market cap of altcoins will correspondingly increase.
Secondly, various data for December has already been released, such as ADP, non-farm payrolls, CPI, interest rate decisions, and the previously mentioned decision by the giant Microsoft at the beginning of this month on whether to consider Bitcoin as a reserve asset for the company. If approved, it would undoubtedly increase buying power, but at the same time, market volatility would also intensify.
Now about ETH:
Last Friday, Ethereum's ETF saw a single-day capital inflow exceeding $330 million, while Bitcoin's inflow on the same day was only $320 million. This marks the first time in human history that Ethereum's ETF has outperformed Bitcoin in a single day, and it even trended on social media. As a result, Ethereum's price peaked at $3760, which can be considered a slight rebound; however, it is still a bit far from Ethereum's true breakout. After all, Bitcoin has reached new highs many times, while Ethereum hasn't even returned to its highs of $3977 in May and $4093 in March, and it is still about $1000 away from its historical peak of $4800, which is much further than Bitcoin's distance to $100k. One can only say that Ethereum still has a lot of room for growth.
Currently, with a strong rebound from the second-largest cryptocurrency, some altcoins have also seen a certain increase, so a slight adjustment is normal and indicates that a real bull market for altcoins is brewing. Appropriate pullbacks will not affect the overall trend of the upcoming bull market, but rather provide opportunities for us small investors.
