The plan has garnered support from political figures including Porter and Loomis, and has attracted bipartisan attention. Trump's support has given political momentum to this previously marginalized concept, marking a watershed moment in the cryptocurrency market. A California Democratic congressman and a Wyoming Republican senator proposed incorporating Bitcoin into U.S. reserve assets, partially relying on America's gold reserves. However, critics argue that this may reinforce the U.S.'s financial dominance and challenge the decentralization ethos of Bitcoin. Nevertheless, supporters believe this initiative will help address the debt crisis and promote global financial innovation. As 2024 draws to a close, influenced by the Christmas holiday, the overall market performance remains stable, with a clear expectation for Bitcoin to end strongly. From a monthly perspective, as time progresses, the upward trend above the short-term moving averages remains solid, indicating that the market may continue its upward momentum into 2025; this is a rough outline of the overall trend.
Bitcoin maintained a narrow range of oscillation yesterday, with the largest price movement peaking at 99540 in the evening before retreating under pressure. Influenced by the news that U.S. stock markets were closed, the daily chart entered a period of dull oscillation, closing with a doji candlestick. Currently, the coin price continues to consolidate around the middle band, waiting for a breakout to establish direction. The four-hour chart of Bitcoin shows a slight opening of the Bollinger Bands, oscillating back and forth within the upper and lower bands, consistent with the oscillation range provided yesterday. Although there is slight pressure on the short-term trend entering consolidation, overall, the key factor is still the breakthrough of the 100,000 mark. In the short term, we continue to see wide oscillations between 97000 and 99500, and short-term operations should maintain a strategy of selling high and buying low within the range; we will follow the trend once a breakout occurs. Currently, it remains in a strong bullish phase, and for wave positioning, we will buy at lower prices.
Ethereum has been oscillating in the range of 3450-3490 for most of the time, with limited movement. The market remains in a slow consolidation phase, with the four-hour level showing strong potential for breaking higher. After a series of convoluted consolidations, the lows are gradually rising, repeatedly forming solid support at the bottom, and once again presenting a momentum of vigorous advancement. The overall trend runs closely along the upper trend line, with the current volatility remaining small and still brewing. The expectation for a pullback is gradually decreasing, and with support continuously rising below, it is highly likely that prices will test upward again. Today, we will maintain the strategy of buying on dips.
