Bitcoin soared to $106,565 this morning, setting a new historical high.
Ethereum has broken through $3,900, with about a 20% upward space remaining to the historical high of $4,868 in 2021.
In addition, the top ten cryptocurrencies by market cap have risen between 1% and 4%.
The bull market washout has ended, holding steady for new highs.
The weekend's downward trend has ended, and the market is witnessing a broad-based rally. BlackRock continues to buy, and listed companies are gradually entering the crypto space, while Trump has opened a 'buy, buy, buy' mode, making it hard to justify selling.
In addition to Bitcoin and Ethereum, Trump has also invested in DeFi coins like AAVE, LINK, ENA, and ONDO. The early stage of the bull market typically focuses on increasing leverage and liquidity through borrowing, followed by a sector rotation phase.
The market generally expects that Ethereum may break through its previous high this week and reach new highs in Q1, with Bitcoin and altcoins also ready to sprint. It is not advisable to easily reduce positions at this time, as missing out may make it hard to get back in. Also, pay attention to new coin opportunities; recently, usual cow has performed strongly, with its rise stemming from both Trump and Vitalik using cow swap for transactions, suggesting there is still room for upward movement. Once the consolidation stabilizes, one can choose to enter the market.
Both AAVE and ONDO belong to the RWA track, and it is recommended to focus on the popular coin RSR within the same sector.
Additionally, the leading oracle sector LINK is oscillating at high levels, while TRB in the same sector is worth paying attention to.
The AI sector's FET and WLD still have potential;
The gaming sector SAND, YGG, and GALA may present opportunities after adjustments.
Bitcoin's new high may trigger a wave of Christmas rallies for altcoins.
KIP
Currently, the market has shown support and resistance conversion, and two entry strategies can be chosen:
Breakout buying: If the price breaks through the 0.034 area, one can chase after the breakout or on a pullback, with a temporary target set for the 0.42 area.
Pullback for rebound: If the price pulls back to the 0.025 area, one can try to buy on the dip for a rebound, with the target initially looking at the 0.034 area.
From a fundamental perspective, $KIP is a project strongly supported by Animoca Ventures, with a high probability of being listed on mainstream exchanges.
ENA
This year's star coins, based on Ethereum's dollar protocol, are similar to 'internet bonds' and can be classified under DeFi protocols. However, after several bull markets, only a few DeFi projects like Uni, Aave, Cake, Comp, and LDO remain viable trading protocols.
ENA has strong institutional support and backing, but institutions will eventually cash out, making one cautious yet expectant. From the trend, ENA has been rising for multiple weeks with volume breaking out of the 'pit.' Short-term resistance is at 1.5230 (previous high), and a breakout is just a matter of time; support is at 1.2091 and 1.0820. Consider placing orders to enter the market with a stop-loss set at 0.995. For mid to long-term positioning, it's recommended to build a position in batches at the 0.87 and 0.65 areas for greater stability.
ONDO
The final highlight is the tokenized leader supported by BlackRock—Ondo Finance.
In January of this year, Ondo Finance released its 'Ecosystem Directory' on social media, showcasing partners in areas including RWA business liquidity, custody, and asset management companies, including financial giants like BlackRock and Morgan Stanley. This suggests a 'close cooperation' with BlackRock. This move has made Ondo a leading speculative target for RWA and the 'BlackRock concept.' Trump's support is also a significant highlight.
Currently, there are two voices in the market, coming from bears and bulls:
Bearish perspective: Bitcoin continues to pull up and suck blood from altcoins, and altcoin prices are relatively high. Once Bitcoin retraces, altcoins will continue to plunge. Therefore, it is advisable to short on rallies and not rush to fully invest, waiting for lower entry points.
Bullish perspective: The bull market has arrived, and the overall trend is moving upward. Even if there is a pullback, it will rebound quickly. Getting back in after exiting will be more difficult, and the market will raise its bottom amid anxiety, ultimately leading to sustained growth. Therefore, the earlier one goes all in, the better.
So, are you a bear or a bull?
Today's article ends here. We are currently in a bull market, with swirling changes, and we share insights every day. If you are unsure how to navigate the bull market, feel free to follow us. Bull market spot insights, layout strategies can be shared freely.