Late at night, BTC suddenly surged, breaking through the 93k and 94k levels, continuously hitting new historical highs! Those who swapped BTC for altcoins during the high consolidation period a few days ago will now be left behind. What we do in the cryptocurrency market today is the game between institutional investors and retail investors, so we need to understand the rules involved.
BTC broke a new high at night; it really is shooting up like a rocket.
At this moment, it can be seen that the speed of the increase is not as fierce as before, which can be vividly compared to a rocket running out of fuel, continuing to rise relying on the inertia brought by the increase. Once the inertia disappears, it will lose upward momentum and will fall next.
Can Bitcoin break through the 95,000 mark at dawn, pushing towards 98,000～98,400? The current key resistance level above is 95,100. If it breaks and stabilizes, it will continue to start the hourly price increase cycle. If the market cannot stabilize at 93,400, it will fall, with support levels below at: 92,000～91,100. If it doesn't break down, the market will once again test the 95,000 mark.
ETH is being sucked dry just like altcoins.
From the market perspective, Bitcoin has been stagnant at high levels, and it will start to rise again. Focus on the resistance levels above: 3212～3315. If it can't rise above 3200 at dawn, the market will continue to look for downward fluctuations and adjustments, with support levels below at: 3095～3045～2958. If it can't break below 3100, the market will look to break through 3200.
SOL is sucking blood; this time Sol is not following the rise.
This also shows that Bitcoin really needs fuel to push it to break the 100,000 mark. If the market does not break below 230 at dawn, and the upward trend's shape does not deteriorate, the market will continue to look bullish. Key resistance levels above: 242.55～247.17. If it falls below 230, the market will adjust downward, with support levels currently at: 235.34～231.63～225.51.
Cryptocurrency is considered part of the 'Trump trade.' During the campaign, Trump repeatedly expressed his preference for Bitcoin and cryptocurrencies.
Thanks to the surge in Bitcoin, the stock price of 'Bitcoin shadow stock' MSTR has recently skyrocketed, closing up nearly 12% yesterday, surpassing the combined market value of the world's top two gold mining companies, Newmont and Barrick Gold. In pre-market today, the stock continues to rise, currently up over 7%.
Last week, many meme performances were about done, and this week it will start to trap people. It is advised not to buy into these memecoins with huge profit margins at high levels, such as Pnut, which will need to deeply correct.
