Bitcoin rebounded strongly yesterday, breaking through the $44,000 mark and is currently falling back to around $43,400.

Bitcoin

BlackRock, Nasdaq, and the SEC held their second meeting this month to discuss a Bitcoin spot ETF. Analysts predict that it could be approved as early as early January. This, coupled with the dovish stance of the Federal Reserve and the corresponding markets (higher stocks; lower US dollars and US interest rates), as well as slowing inflation, may continue to increase momentum for BTC.

The weekly and daily charts show a clear uptrend: a series of higher highs and higher lows. In addition, both the 50-day simple moving average and the 200-day simple moving average (SMA) are pointing upwards and are currently around $38,878 and $31,012, respectively.

Today’s bullish thrust has seen buyers and sellers currently struggling around resistance at $43,828 on the daily timeframe after recovering from support at $41,500 earlier this week.

A breakout of the current resistance will create a new yearly high of $45,000 and target another daily resistance near $45,525, which is just below the critical weekly resistance zone between $46,112 and $48,565.

Altcoin market booms as Bitcoin regains momentum

Leading the growth is IoTeX (IOTX), a “blockchain within a blockchain” project that aims to advance the Internet of Things (IoT). The IOTX token is up 27% in the past 24 hours and nearly 100% in seven days, bringing the project into the top 100 largest tokens by market cap.

Stacks (STX), Fantom (FTM), Neo (NEO), Immutable (IMX), Avalanche (AVAX), and Solana (SOL) are also large projects with significant daily growth, with increases of more than 10%.

流（FLOW）、Conflux（CFX、Injective（INJ）、NEAR Protocol（NEAR）、ORDI（ORDI）、Sei（SEI）、MultiversX（EGLD）、Render（RNDR）、VeChain（VET）、Gala（GALA） 、Arweave (AR)、Polkadot (DOT)、Beam (BEAM)、Kava (KAVA)、THORChain (RUNE)… สัต้ว่มัววัด 6-9%.

After yesterday’s strong move above $2,250, ETH is showing signs of a minor correction and is now back to just below $2,200.

(Personal opinion, not a recommendation)

In the crypto industry, if you want to seize the next bull market opportunity, you need to have a high-quality circle so that everyone can keep each other warm and maintain insight. If you are alone, looking around and finding no one, it is actually very difficult to persist in this industry.

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