Hope to see ETH's rebound in the coming months
Today's drop was a spike event, with ETH stopping its decline 15 minutes ahead of BTC, and then began to rise. Major options traders are also establishing bullish positions in ETH for Q1 2025.
BTC.d formed a long upper shadow today, so we will keep an eye on this indicator. Once the next peak of BTC.d is confirmed and starts to turn down, the altcoin season will be upon us.
Currently, I am only looking at ETH; I just bottomed out again at 3420 with 15000u, using 10x leverage. The reason is simple: ETH is the leader among altcoins and the second in the crypto world. If it doesn't reach ATH, the altcoin season won't materialize, at most it will just be sector rotation.
History always tends to repeat itself. We are less than 3 months away from the first sell-off in 2025, and ETH will likely experience a rebound. We are now in the final grinding phase for ETH, so don’t give up. Looking back at the price movement from January to May 2021, BTC fluctuated downwards and reached new highs. After several operations, everyone started to FOMO, and during March to May, when ETH rebounded, altcoins began to celebrate, ultimately leading to the significant drop on May 19.
If history repeats itself, we will likely see a market similar to March-May 2021 from January to March 2025. Be aware of the risks and consider taking profits.
