Today, Bitcoin has returned to above $100,000, and Ethereum has also surpassed $4,000.
This time, Ethereum's rise has a significant positive effect on market sentiment, as many people hold Ethereum, and at least now they don't have to sigh over their Ethereum holdings every day.
Ethereum's breakthrough also means that the comprehensive explosion of altcoin season may be approaching, and the projects we have positioned are likely to experience another wave of rotating increases.
We have mentioned before that the explosion of altcoins must occur on the basis of Ethereum's rise.
Among altcoins, ACX and ORCA have performed the strongest, with increases exceeding 80%.
Their rise is primarily due to their listing on Binance's spot trading yesterday.
Recently, Binance's listing direction has become increasingly clear:
1. Total market cap is not high, basically in the hundreds of millions.
2. Focused on established coins, not new projects.
3. Already listed on second and third-tier exchanges.
4. There are actual usable products; they are business-oriented products.
5. Not many people on Twitter were calling for listing on Binance in advance.
Projects like COW, THENA, ACX, and ORCA all meet these characteristics.
They are neither the high-emission, multi-billion dollar VC coins criticized by the market, nor the rapidly PVP meme coins.
Instead, they are small but beautiful, low market cap, business-oriented projects that have survived over a long period.
The listing of high market cap VC coins allows VCs to profit, but Binance itself receives criticism, which is not worth it, so they will be very cautious about such projects.
MEME projects are basically similar except for concept changes; they just need to launch a contract to earn some fees.
Small market cap businesses are stable, have significant market potential, and have relatively reliable fundamentals, receiving less criticism.
It is worth noting that the United States released the non-farm payroll data for November yesterday, which exceeded market expectations.
In November, the seasonally adjusted non-farm payroll in the U.S. increased by 227,000, the largest increase since March 2024, while the unemployment rate was 4.2%, the highest since August 2024.
After the data was released, market concerns about a recession in the U.S. economy diminished, and the probability of the Fed cutting rates in December rose to 85.1%.
This suggests that the Federal Reserve is very likely to cut interest rates again and inject liquidity in the December meeting, which could further drive up Bitcoin.
According to the spot ETF data, Bitcoin's spot ETF had a total net inflow of $767 million yesterday.
BlackRock's IBIT had total inflows exceeding $2.5 billion in the past five days.
The Bitcoin spot ETF holdings in the United States have exceeded Satoshi Nakamoto, reaching 1,104,534 coins.
Ethereum's spot ETF net inflow reached $428 million, setting a historical record, with nine consecutive days of net inflow.
This indicates that U.S. investors are continuously entering the market, and they remain optimistic about the trends of Bitcoin and Ethereum next year.
From the situation of new funds entering the market, Tether minted another 2 billion USDT on the Ethereum network yesterday.
This indicates that market demand is very strong, with off-market funds flowing into the crypto market. It seems there will be another wave of increase soon, and we just need to sit tight.
