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12.21 Saturday Mainstream Coin Highlights:
From the macro perspective of the current overall market situation, Powell clearly pointed out that the Federal Reserve is neither allowed to hold Bitcoin nor intends to amend the relevant legal provisions. This position has further deepened the market's concerns about the cryptocurrency sector, prompting investors to hastily withdraw funds, triggering a sharp decline in Bitcoin prices.
Meanwhile, since the dust settled from the U.S. elections on November 5, Bitcoin prices have soared by over 45%. Some investors have chosen to take profits at the year-end, leading to a surge in sell orders, which further pushed Bitcoin prices down. By Thursday, ETFs (Exchange-Traded Funds) ended a streak of 15 consecutive trading days of net inflow, instead recording a new high of $680 million in net outflow. This change significantly reflects a reversal in market sentiment, with the outflow of funds exerting downward pressure on Bitcoin prices.
From a technical analysis perspective, it seems unnecessary to delve into too many details in the current situation; one can simply follow the market trend. However, I personally tend to suggest that investors wait patiently for a price correction before entering long positions. Although the decline in Bitcoin prices may be significant, the counterattack power of the bulls should not be underestimated. Therefore, I still recommend everyone to look for opportunities to establish long positions during Bitcoin's pullbacks.
Bitcoin: 96500-97000 range, looking towards 98000-98500
Ethereum: 3420-3440 range, looking towards 3500-3550
From the macro perspective of the current overall market situation, Powell clearly pointed out that the Federal Reserve is neither allowed to hold Bitcoin nor intends to amend the relevant legal provisions. This position has further deepened the market's concerns about the cryptocurrency sector, prompting investors to hastily withdraw funds, triggering a sharp decline in Bitcoin prices.
Meanwhile, since the dust settled from the U.S. elections on November 5, Bitcoin prices have soared by over 45%. Some investors have chosen to take profits at the year-end, leading to a surge in sell orders, which further pushed Bitcoin prices down. By Thursday, ETFs (Exchange-Traded Funds) ended a streak of 15 consecutive trading days of net inflow, instead recording a new high of $680 million in net outflow. This change significantly reflects a reversal in market sentiment, with the outflow of funds exerting downward pressure on Bitcoin prices.
From a technical analysis perspective, it seems unnecessary to delve into too many details in the current situation; one can simply follow the market trend. However, I personally tend to suggest that investors wait patiently for a price correction before entering long positions. Although the decline in Bitcoin prices may be significant, the counterattack power of the bulls should not be underestimated. Therefore, I still recommend everyone to look for opportunities to establish long positions during Bitcoin's pullbacks.
Bitcoin: 96500-97000 range, looking towards 98000-98500
Ethereum: 3420-3440 range, looking towards 3500-3550
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
96,154.04
-3.11%
ETH
3,328.72
-5.70%
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