How to view the cryptocurrency market next:
1. The current pullback is an adjustment in the bull market, which has lasted about 10 days and is nearing its end. The season for altcoins has arrived, but a collective breakout has not yet occurred. The market is waiting for Bitcoin and Ethereum to lead; currently, only a few individual coins have started to rise in advance, while most altcoins have not officially begun to rally and are still consolidating sideways. The market is waiting for a counterattack signal from ETH.
2. Technical analysis: Various technical indicators for BTC (such as MACD, channels, KDJ, etc.) have fallen to low points, and there has been no significant volume during the decline. If the current support level can hold, the chances of a rebound will increase.
3. Funding situation: A large amount of capital has already appeared, buying at the bottom area, which provides support for subsequent rebounds.
4. News front: Trump is expected to take office at the end of January, which may bring more policy changes and positive expectations to the cryptocurrency market. The staking feature for Ethereum is expected to be launched after Trump takes office, which will further enhance Ethereum's attractiveness and is expected to attract a large amount of buying interest. Staking applications are likely to surge starting in January. Additionally, before the Christmas holiday, approximately $131 million has flowed into the market, indicating that institutional investors are also looking forward to the launch of the staking feature.
