After experiencing a pullback before Christmas, this year's Christmas did not become a 'Christmas disaster'. The crypto market has warmed up across the board, and Bitcoin broke through the psychological barrier of 98,000 USD, peaking at 99,487 USD, bringing a 'green Christmas gift' to Bitcoin bulls worldwide.
Looking at Ethereum, the elder brother of altcoins, it is also magnificent, leading a group of younger brothers into battle, as the entire market seems to be warming up. Currently, Bitcoin's price has slightly retreated and is stabilizing around the 98,000 USD level.
This rebound has risen a full 6 points! Airforce brothers, you really stumbled this time! Is it that foreign friends are busy stocking up on 'New Year's goods' before the holiday, or do they not accept gifts during the New Year, only recognizing BTC as the 'digital gold'? Anyway, this wave of Bitcoin is really comfortable.
Market outlook: The turning point of the bull market is coming!
This wave of price increase has also revived the bulls, with total liquidations exceeding 230 million USD in the past 24 hours. Such large-scale liquidation phenomena also mean that the bearish sentiment in the market is gradually dissipating, and more investors are beginning to turn to bullish sentiment.
Moreover, there are many narrative aspects in the upcoming January market, first around the sixth of the month with the first batch of payouts from FTX, expected to be around 16 billion USD. Objectively, most of this capital will flow back into altcoins, as the cost-effectiveness of laying low at this position is not high. The value targets are expected to benefit ETH, SOL, and SUI and other leading strong public chains, directly benefiting sectors expected in the FTX concept series, such as FTT, which has started to rebound strongly in the last couple of days.
Then there's Trump's inauguration, with a series of economic stimulus bills and crypto regulatory policies being introduced, directly driving the market to surge. When the strategic accumulation of Bitcoin rises to a global hegemonic position from an institutional perspective, Bitcoin has already allowed many retail investors to leap across social classes, becoming something we can only look up to. Therefore, from the perspective of early positioning, if given the opportunity in the near future, apart from the FTX concept, the Trump concept and the Musk concept will become the main theme in January!
When exactly will the altcoin season come?
It might be a bit heartbreaking, but retail investors currently without Bitcoin will also find it hard to buy a single BTC in the future; most people hold altcoins, and the altcoin market affects each of our wallets! From a perspective of seizing opportunities, a major market trend will first welcome a small altcoin market, then after a slight adjustment, a second wave of major altcoin market!
Now, this round of market conditions has lasted for three months, and BTC has reached a critical position of 100,000 that urgently needs adjustment, while the market share has also declined. After about four weeks of fluctuations, the adjustment time has been in place, which also provides a foundation for the explosion of altcoins; perhaps the altcoin season is on the way!
What strategy should be used to navigate the current market?
The current market is in a relatively complex stage. For Bitcoin investors, it is beneficial to continue holding Bitcoin, as Bitcoin has already achieved a 5-6 times profit in increase. Choosing to exit does not mean missing the opportunity, as Bitcoin itself has already gained significant returns.
However, for some altcoin investors, maintaining patience is also very important. After all, the explosive rise of altcoins will come. The current market liquidity is still insufficient, but the major trend has been established, and an altcoin bull market can still be expected in the coming months.
After all, with the flow of funds, we have reason to believe that next, this capital may further pour into the altcoin market!
As for which potential sectors and coins to focus on for bottom fishing, there are currently several coins that may have good opportunities in the short term:
AAVE:
As for AAVE, it was actually favored by major institutions at the beginning of this year, especially the Trump family's WLFI is very optimistic.
SUI:
As for SUI, it actually looks like it has considerable potential as an independent main chain.
So its advantages are high performance and the very strong rebound ability under the SUI ecosystem.
The ecosystem has always been very rich.
Doge:
Dogecoin, as a long-term focus 'hot coin', although its rise and rebound strength do not meet people's expectations, due to support from celebrities like Musk, Dogecoin still has strong market appeal. Recently, Dogecoin's price experienced a significant pullback, but it is close to the bottom of the rising channel, so long-term investors may consider buying in the current price range. Especially with the approach of the 2025 bull market, Dogecoin's market performance may welcome new opportunities.
Although there are still certain downside risks, Bitcoin's rebound seems to be gathering more upward momentum under the current market environment. If Bitcoin can break through and stabilize above the resistance level of 98,500 USD, it will drive the market into a strong upward trend. With increased short liquidations and continued buying in the spot market, Bitcoin is expected to welcome a breakthrough rally in early 2024.
In the coming days, the market will continue to focus on whether Bitcoin can break through this key technical level. If it successfully breaks through, a breakthrough of historical highs is imminent, and market investment sentiment will further heat up!