November 7, 2024

After Trump was elected, Bitcoin hit 75,000, then fell back below 73,000 and came back above 75,000, and continued to refresh the historical high. There is no doubt that Bitcoin's short-term trend is invincible, but the bears did not surrender directly. This pressure zone does not seem to be so easy to break through. In this case, it may need to consolidate at a high level to see whether it is direct.

It is worth noting that Ethereum has risen above 2,800 US dollars today, and the exchange rate has also reached above 0.037. Perhaps for most people, if Ethereum is taken at a high of more than 3,000, the current price is just a return or a small profit, and the current price is not very attractive. But don't forget that this is not actually the market of Ethereum. The real main rising wave is accompanied by the rise of the entire Ethereum ecosystem such as DeFi, L2, and pledge.

In the past two days, the market has risen. In addition to Bitcoin, the hot spots have quickly switched to DeFi blue chips. On the one hand, it may be affected by Binance's launch of CETUS and COW. Both of them belong to DeFi, especially COW is a very early project. On the other hand, it is Ethereum and its ecological projects. DeFi blue chips have already killed more valuations, and these are projects supported by business models. It is only a matter of time to canvass votes.

Back to the specific operation, someone asked about DeFi yesterday. My suggestion is not to rush to sell, but looking at this market, Bitcoin may consolidate at a high level. After all, it is under pressure from historical highs, and the rise of DeFi projects is expected to be adjusted. The bottom-fishing a few days ago can also be used for the band, and appropriate defense. However, in the general direction, this pressure level of Bitcoin is still quite critical. A breakthrough is likely to directly start a big bull market, otherwise it will start the last big retracement before the big bull market.

Thank you for your attention and likes. There are more content on the homepage, welcome to check it out.