Bitcoin takes a deep breath; institutions are optimistic about next year!
Has Bitcoin made you feel a bit drowsy these days? It is oscillating between 93,000 and 98,000, like it’s taking a deep breath, preparing for a big move. But don’t rush; institutions are generally optimistic about next year's market. Personally, I feel it is currently an upward phase.
After all, the market has soared like a rocket in the last two months, and now it needs to take a breather and stabilize its pace! You know, the market changes as quickly as flipping a book; we must remain calm and composed.
So how will the market move next?
Let’s talk about Bitcoin first; it seems to be 'finding direction' right now. If no bad news intervenes, it may suddenly surge one day. But at this time, don’t put all your funds in; it’s recommended to do small regular investments, taking it slow. Have a bottom line in mind, and in case it drops another 10%-15%, we can still average down.
Looking at BNB, it is currently trading sideways between 680 and 720, and today's performance is a bit sluggish compared to yesterday. It might be because the airdrop activity is about to end, so those who made money have exited.
As for Ethereum (ETH), it is fluctuating between 3200 and 3700 while waiting for a breakout. Although Bitcoin is relatively quiet, Ethereum may not stay idle; recently, institutions have shown some favor and have increased their holdings significantly!
Let’s talk about today’s technical analysis of BTC: From the candlestick chart, the 1-hour chart shows a rebound from a decline, while the 4-hour, 12-hour, and daily charts are still in a downward trend. Today's resistance level is around 96,500, and the support level is about 91,000 USD.
BGB has dropped nearly 20%!
However, seeing everyone, especially the teachers in various groups, sharing on-chain profit charts makes me a bit anxious. Does it mean we have reached a short-term peak signal? At least I caught this signal on BGB and exited quite timely.
I still have high hopes for the long-term potential of the AI Agent sector, projects like Ai16z, Virtual, and Aixbt will continue to explode. And I believe $8 is not the peak for BGB. As the saying goes, 'Buy when no one cares, sell when the crowd is excited.' For some positions, even if you sell too early, making a profit is still a good thing.
I have already taken profits from part of the on-chain earnings and will place low orders for the targets I’m optimistic about. I will discuss with other teachers tomorrow, hoping to gain more new insights.
However, New Year's Day is approaching, and a big market movement is imminent!
Currently, Bitcoin is dropping quite sharply, while Ethereum is rising, which may signal a change in the market, entering the second phase. It is worth noting that I previously mentioned that FTX is also about to start compensation on January 31, only 4 days left to see if FTT will show some performance.
AI Agent projects on the chain are currently very popular; new ones are launching every day, but the secondary market for AI is still quiet. Other sectors are similar, all waiting for the wind to come.
Following this trend, will the rhythm of sector rotation be similar to the beginning of this year, first AI, then meme coins, and then other sectors? Let’s wait and see!
Good news, the DeFi token ENA that I hold has performed quite steadily during this round of market correction.
However, there is bad news: the three new coins—ACT, Neiro, and Pnut—set a new low again in the middle of the night!
Recently, some group friends feel that the current trend is very similar to the daily downward trend after May 19, and they asked me when I think it will hit the bottom and rebound?
Actually, I think this time is quite different from May 19. Although both are about deleveraging, May 19 was a major correction after a large-scale market explosion, belonging to a great crash. The current situation is more like a deleveraging phase before an upward trend, with 90% of altcoins not having risen much yet, just starting to rise slightly.
The bear market is a period of accumulation, and the bull market is the time to cash in!
2024 is about to end, where is the next stop in the crypto world?
This year, the crypto market has undergone a major reshuffle; some choose to exit, others choose to hibernate, but opportunities always belong to those who plan ahead!
Historical data tells us that the second year after each halving often serves as a catalyst for a new trend. Will we repeat this pattern again? First BTC rises, then expands to mainstream coins and emerging sectors; this may be the upcoming roadmap.
Global regulation is accelerating; although it seems tightening, the compliant market has paved the way for institutions to enter. BlackRock's ETF is just the beginning; more traditional capital may fully position itself in Web3 in the future. Big institutions are paying attention to these directions; what are you still hesitating about?
There are as many players in the crypto world as there are cows, but those who can be called 'hard characters' are probably just these 10 types:
A warrior holding a large amount of altcoins: Dreaming of the day of getting rich, but racing against the risk of liquidation every day, heart rate soaring like a roller coaster.
A warrior who fights and loses repeatedly but never gives up: Not afraid of losses, not giving up even after losing, always feeling that the next wave can turn things around, keep charging forward!
A believer who insists on only investing in one coin: Just stick to one coin, regardless of ups and downs, holding tightly, no matter what others say, always sticking to their choice.
Hardcore players who trade without a computer: The phone is the only weapon, watching the market anytime and anywhere, at the forefront of the market.
A mysterious figure who never talks about the crypto world: Low-key, mysterious, quietly making money, others have no idea what he is doing, but when he finally acts, it leaves people stunned.
Conservative investors who decisively cash out every 20% profit: Not greedy, not panicking; as long as there's profit, lock it in, steadily reaping rewards without taking too much risk.
Adventurers who dare to invest heavily without studying: Relying on intuition and courage to gamble on the future, gains and losses depend on fate, playing for that feeling of 'being lucky.'
A fearless investor without a fixed income: No stable income, but always feels that the next investment is an opportunity to turn the tables, full of solitary courage and a super steady mindset.
A hermit who claims to never buy coins: Outsiders can't see the clues; obviously pretending 'I don’t play,' but the wallet quietly explodes daily.
Long-term investors who hold after buying for more than half a year: Not seeing short-term fluctuations, enduring loneliness, relying on time and compounding to earn value, steadfastly waiting for future returns.
Which type are you?
Finally, here are some important news updates:
1. Since November 11, MicroStrategy has increased its holdings by approximately 192,042 bitcoins, while BlackRock has also added about 118,795 bitcoins.
2. Michael Saylor has released Bitcoin tracking information for the eighth consecutive week, which may indicate he is increasing his Bitcoin holdings.
3. The CEO of Tether retweeted some posts, stating that USDT will not be deemed illegal by Europe on December 30.
4. FTX will start repaying $16 billion in cash, with claims processing officially starting on January 3, 2025. According to FTX's announcement, the Chapter 11 restructuring plan approved by the court will take effect on January 3, 2025, and become the record date for the first distribution.