Yesterday marked the first net outflow for the Bitcoin ETF and net inflow for the Ethereum ETF, indicating a shift in the market's perception of the upcoming short to medium-term profit potential. From the chart, it is evident that the recent rebound has shown altcoins to be significantly stronger than Bitcoin, which is conducive to the onset of altcoin season.

However, it remains to be seen whether this round of adjustment has concluded or if a bottom has been reached. The mid-term support for Bitcoin is around 88,000, while Ethereum's is around 2,900. Even if there is another drop, the space for decline is already quite limited.

If it drops, the market will exchange space for time, and a new round of upward movement will soon begin; if it cannot drop, then time will be exchanged for space, and if there is continued weak sideways turbulence, it is likely we will have to wait until around January 20 for the new administration to take office!

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Important indicators for 2024\12\24

FGI: 73 (Below 10 is the bottom area, above 90 is the high area)

MVRV: 2.34 (Below 1 is the bottom area, above 3.7 is the high area)

ahr999: 1.79 (Below 0.45 is the bottom-buying area, below 1.2 is the dollar-cost averaging area, below 5 is the holding area, above 5 is the selling area)

Bitcoin market cap ratio: 55.51 (The smaller the ratio, the greater the top risk; conversely, the larger the ratio, the greater the potential bottom. The last bull market top was 42.14)

Bitcoin Rainbow Chart: Deep Green (Blue is the bottom-buying area, Green is the dollar-cost averaging area, Yellow is the holding area, Red is the liquidation area)

Bitcoin Escape Top Index: Red line 229194, Green line 45838 (Prices above the red line are in the escape top area, below the green line are in the bottom-buying area, current price 94174) $BTC #加密市场反弹