This morning at around 06:30, Bitcoin dropped to a low of $93,000, marking a near-weekly low. It seems that the market liquidity caused by the European and American holidays has not yet shown significant recovery.
In the past 24 hours, a total of 76,503 traders have been liquidated, amounting to $160.03 million.
Has Bitcoin's recent movement been making you feel drowsy?
I did a comparison and can clearly see that Bitcoin's trading volume has dropped to a very low level, similar to the trading volume during the eight months of garbage fluctuations at $65,000.
Therefore, the current market crash has nothing to do with the so-called market makers or large investors; it is just the PVP of BTC holders under low liquidity. The real price trend will still depend on the recovery of liquidity in stages.
Today's Bitcoin shows a rebound on the 1-hour chart, while the 4-hour level is in decline and the 12-hour level is also down. The daily trend needs to maintain its bottom for a while longer, with the cycle needing to be extended. As for the final low point, let's first observe the consequences of the recent movements impacting the clouds over the next couple of days. The intraday resistance level is $96,500, and the support level is $91,000.
With New Year's Day approaching, a big market movement is also coming soon.
Ethereum is currently quite strong, marking the beginning of a market shift and entering the second phase. The strength of Ethereum gives the retail investors the greatest confidence. It's worth noting that there are only 4 days left since FTX started compensation on January 31 to see if FTT will show any performance.
AI projects on the blockchain are extremely popular, with several emerging every day. However, the secondary AI projects are still quiet, similar to other sectors, which are also inactive, waiting for the right opportunity to come. If this trend continues, will the sector rotation start similarly to early this year, first rotating AI, then meme coins, and then others? Let's wait and see.
The pnut act neiro shows some signs of bottoming out, and those who have been washed out the hardest are likely to rise the most in the future.
Lastly, just a quick mention of the 'meme coins'.
Buying early is not as good as buying smart; without research, there is no voice.
I'm dying of laughter, the meme coin group is too funny. A friend told me there was a breakout last night in a meme coin group. Before the official Twitter announcement, two group members claimed it was started by a KOL and mentioned the dev running away. Eventually, all the group members sold off, and when I woke up, I saw it had hit a new high!
Hahaha, the biggest enemy of the meme coin group is the group members themselves.
