The reason for the small rebound from last night to now is the rise in U.S. stocks, so the sentiment from the U.S. market has a significant impact on BTC. Moreover, in terms of data and funds, overall, there is currently a net inflow. Therefore, the market rebound cannot be interpreted as the beginning of a reversal.
In the altcoin space, the strong players are ZEN and LPT. ZEN was previously pushed up by Grayscale's accumulation. At that time, I thought this news wouldn't last long during the market adjustment phase. Unexpectedly, last night ZEN submitted a fund custody, similar to how ETFs have been accumulating from Grayscale, which has already more than doubled. There's no need to be anxious; there will be many opportunities for such gains in the future. We should focus on making the most stable trades rather than taking risks for profits.
Regarding BTC, the support for BTC still needs to look at 92k. If it doesn't break below that, it will continue to maintain range fluctuations. After enduring tomorrow's Christmas, the altcoin market will gradually stabilize. In short, don't listen to others saying a bear market is coming; have your own judgment about the market and don't forget how you survived the tough days!
Talking about Ethereum, the Ethereum ETF has unexpectedly started to see net inflows today, and the price is also very strong. It is approaching the first resistance level of 3500. Altcoins are also gradually beginning to see a slight recovery. Many friends are becoming anxious, believing that the altcoin season is about to start. However, what I see more is the return of sentiment rather than the actual beginning of the altcoin season. From today, we can see how important sentiment is. When the market fell last week, it started with an 8-digit beginning, and today it has slightly warmed up. To see the altcoin season, how terrifying is this sentiment-driven trading? If tomorrow's Christmas liquidity is lacking and we see another adjustment, will we again be looking at an 8-digit beginning?
I think it's unnecessary. The real trigger point for the altcoin season is when BTC starts to rise slightly, leading to altcoins surfacing, or when Ethereum starts to surge, which would increase the likelihood of a definitive altcoin explosion. Currently, it's merely a combination of sentiment and the slight recovery from today's Ethereum ETF net inflow. It's not the time to forcefully increase positions. Do we still need these two days?
Now, let's talk about what news from yesterday is worth paying attention to. First, it's definitely that the institutional leader MicroStrategy has started buying again, acquiring 5,262 BTC for about $561 million. The MicroStrategy shareholders' meeting also reiterated the $42 billion Bitcoin investment plan. These two events have brought significant confidence to the market. Therefore, Bitcoin returning to $100,000 is just a matter of time. We should cherish this rare opportunity to buy at the bottom. It can be seen that a pattern composed of government, ETFs, listed companies, and large holders has formed. Institutional investors are usually long-term holders and do not trade frequently.
This coin-hoarding behavior reduces the circulating supply in the market and will support the long-term price of Bitcoin.
Although this round of Bitcoin has not successfully broken through 110k, the overall direction has been determined. Large funds have not taken much action in the past two days. Although it won't see a significant rise, there won't be a drastic fall either. If the U.S. market transitions to expectations of Trump taking office after Christmas, then Bitcoin and altcoins might experience a wave of correlated movements, where altcoins rise first, followed by Bitcoin reaching 110k or even 120k, and then returning to continue pushing altcoins upward. If this trend occurs, I personally believe that the market will accelerate into an altcoin bull run in January next year.
Currently, the market has not yet begun to explode dramatically. It is expected that it will start at the latest by January next year. Of course, there may be an increase in late December as well. Holding onto your spot patiently is the key. After enduring this bear market for so long, everyone has made it through, so an additional ten days or half a month doesn't matter. Keeping a stable mindset is the most important part!
Additionally, Biden will officially step down as President of the United States at noon on January 20 next year and transfer presidential power to Trump. Trump's current aides have already started preparing cryptocurrency-related policies. Once Trump officially takes office and makes some favorable comments on cryptocurrencies, perhaps the period before our Spring Festival will be the best time to get onboard!