Merry Christmas!!! Merry Christmas!!
The U.S. stock market on Christmas Eve was like it was under a spell, soaring after the opening! Our Bitcoin also did not remain indifferent, jumping directly from $94,000 to $99,000, an increase of a full 6%! Bears, this time really took a big tumble!
You guys say, did our foreign friends start stocking up on 'New Year goods' before the holiday, or did they simply treat BTC as 'digital gold' to preserve value? Anyway, this wave of Bitcoin's rise is really refreshing.
During these days of Christmas, how will the market trend? Let's discuss it together!
Speaking of Bitcoin, I think it might oscillate between $94,000 and $100,000. Although market sentiment is still a bit tense, the panic has eased a lot. To break this deadlock, large funds need to come in.
Regarding BNB, the price fluctuates between $670 and $710, and the rebound speed is quite fierce! The recent BIO lock-up activity has seen the golden shovel reappear, with six consecutive airdrops attracting many friends, especially those scared by altcoins or uninterested in BTC and ETH rebounds, all flocking to BNB. In the short term, BNB has become a safe haven for many.
Now let's talk about Ethereum (ETH), which is also making great strides, leading a group of younger brothers battling in the market. The overall market seems to be warming up. Personally, I believe it will oscillate between $3,200 and $3,700, with a trend that is slightly more stable than Bitcoin. I heard that institutions made significant purchases of ETFs last night, indicating that institutional giants are still optimistic about Ethereum's future!
Back to today's daily BTC market analysis: From a K-line perspective, the 1-hour level may see a decline or adjustment, while the 4-hour and 12-hour levels are rising, and the daily level may also show a downward trend. The intraday resistance level is $107,000, and the support level is $95,600.
Altcoins have tormented me a thousand times, yet I treat altcoins like my first love.
This might be the saddest thing for deeply emotional people, haha! During the previous market crash, I bought a lot of bottom altcoins. From the current market environment, I have three main reasons to be optimistic about altcoins:
First, after a round of sharp declines, the prices of altcoins have fallen to relatively low points, and the holding risk is not high.
Secondly, most retail investors have been shaken out by this wave of sharp declines, their capital nearly exhausted; market sentiment is now quite cautious. At this time, the cost for the market makers to push up the price is low, making it easy to trigger retail investors' FOMO emotions to re-enter the market.
Finally, almost all KOLs are optimistic about the upcoming 'altcoin season,' and there is a strong consensus on this. Although this consensus may be a danger signal at the high points of altcoins, the market has just experienced a wave of sharp declines, and retail investors have fewer chips in hand, making this consensus appear more reliable.
"Altcoins have tormented me a thousand times, yet I treat altcoins like my first love." Looking at it now, altcoins will at least see a rise, but how far they can go is still uncertain; we can only watch step by step.
If you are a retail investor considering buying Bitcoin or Ethereum, Ethereum may perform better in the coming months. As for altcoins, you can boldly hold the spot, especially those that have not rebounded significantly yet, as they may perform well in the future bull market.
As for contract traders, the leverage on altcoins should be controlled within three times; if you choose to chase highs in the short term, be sure to set stop losses to avoid significant corrections after a surge.
The market is gradually stabilizing, and altcoins may welcome a second wave of rises. Here are several key tracks worth paying attention to:
Core projects: $ONDO, $OM, $CRV, $XLM, $XRP, $HBAR
Trump/Musk related cryptocurrencies: $AAVE, $LINK, $COW, $DOGE
Innovative projects: $ENA, $USUAL, $HYPE
Sector rotation: AI, DEPIN, MEME, and NFT fields have huge potential, with related projects including: $FET, $TAO, $VIRTAL, $JASMY, $HMT, $XYO, $PEPE
The NFT market is recovering, with current hot projects: $PENGU, $APE
For those who have read my previous articles, you know I am very optimistic about SUI, but I have not included SUI because I plan to discuss it separately.
SUI has stood out in the MOVE ecosystem and has become a leader!
SUI relies on the big tree of Meta and has unique advantages with the strong resource support of American projects. As the fastest public chain currently, SUI is undoubtedly an important cornerstone for the development of the Web3 industry.
The performance and capacity of a public chain determine its future growth space, while operational strategy and the capital strength behind it determine the height it can reach. Although SUI is still in the growth stage, its potential has already emerged. Over time, SUI is expected to further unleash its advantages and strive for higher goals.
Currently, SUI still has significant room for growth and is worth our continued attention. In this process, we can pay attention to some high-quality ecological projects on SUI, such as navx, cetus, blue, etc. These projects are likely to become leaders in the crypto field in the future.
Let's talk about ORDI:
To be blunt, among my favorites (besides BTC and ETH), Ordi is a bit of an 'oddity':
Every time there is a broad market rally, its increase is ranked last or second to last.
Every time there is a broad market decline, its drop is the largest.
To be honest, as a short-term trader, I really do not recommend touching Ordi, but if you, like me, can hold for a few years, then it can be considered.
But there is a major misconception: Many people initially think they can hold on, confidently declaring so, but after a couple of days of decline, they lose their nerve; or they see it drop while others rise, and their mentality crumbles, unable to withstand it.
In the end, Ordi is a good project, but it really requires a specific type of person!
Finally, here are some recent key updates to share with everyone:
1. According to data, the trading volume on decentralized exchanges (DEX) on the Solana chain has exceeded $100 billion this month, with Pump.fun accounting for 62% of Solana DEX trading volume in November.
2. Currently, the total circulating supply of Bitcoin has surpassed 19.8 million coins, reaching 19,800,490.63 BTC, while there are less than 1.2 million Bitcoins left to mine, specifically 1,199,509.375 BTC.
3. According to Lookonchain monitoring, since Bitcoin first broke $100,000 on December 5, Mt.Gox has been transferring 200 to 300 BTC daily to B2C2 Group on weekdays. So far, Mt.Gox has transferred 3,631.87 BTC, with a total value of approximately $364 million.
4. Grayscale has announced that it will open 22 cryptocurrency trust products for private placement subscriptions to qualified investors, including mainstream cryptocurrencies like AAVE, AVAX, LINK, SOL, XRP, as well as funds in subfields like DeFi and AI. Investors can subscribe based on net asset value (NAV).