It has started; it has started. Last night BTC dropped to 96k. The support level of 95800 mentioned yesterday has bounced back, and quite a few long positions have been liquidated. My view is that if the support between 94k and 96k cannot hold, the probability of further declines may be greater. However, for those who haven't entered the market, the pullback can be seen as an opportunity.
We are still in a cycle of sector rotation, and funds have not really started to flow into altcoins. This means that as Bitcoin pulls back, dragging altcoins down, it also gives us an opportunity to enter. Moreover, with the end of the month approaching next week, after a month of increases, is it possible that we could see some action in the last week of the month? Next Wednesday's PCE data and the Federal Reserve's monetary policy minutes will also be key points.
Here's another piece of good news: FTX will launch a restructuring plan early next year, which has been confirmed, and it is expected to start distributing approximately $16.5 billion in compensation to previous users. This means that these payments will be directly compensated to small investors, and how will the small investors currently in a bull market react when they receive these compensations? The market will likely see a wave of liquidity for veteran users in the crypto space, so brothers, don’t be afraid of the pullback; clearing positions also gives us an opportunity to enter.
Returning to today's daily $BTC market analysis, from the K-line perspective, the 1-hour level is showing a downtrend, the 4-hour level is rebounding, the 12-hour level is down, and the daily level is weak, about to consolidate or decline. The intraday resistance level is 99400, and the support level is 95000 USD.
PNUT
Peanut the Squirrel, a cryptocurrency based on the Solana blockchain, has recently garnered significant attention. Its market cap is $1.24 billion, currently ranking among the top 75 cryptocurrencies. The token is currently priced at $1.14, having increased in value by 6.18% in the past 24 hours.
In the past month, the price of PNUT has surged by 2255%, marking a period of rapid growth. The token reached an all-time high of $2.47 on November 14 but has since fallen by 50%. Despite this decline, market sentiment remains optimistic. The Fear and Greed Index is at 80, indicating a high level of market optimism.
The trading activity of this token appears to be strong, with a 24-hour trading volume to market cap ratio of 2.3063, indicating good liquidity relative to its market cap. Looking ahead, some analysts predict that the price of Peanut the Squirrel may rise by 221.23%, potentially reaching $3.48 by December. As it approaches recent highs, some investors see it as one of the most worthwhile cryptocurrencies to invest in right now.
XTZ
Tezos is a blockchain platform focused on assets and applications, centered around security, governance, and decentralization. Its unique on-chain governance system allows users to propose and vote on protocol upgrades based on their stake, with the entire process occurring entirely on-chain and divided into five phases, including three rounds of voting, ensuring transparency and efficiency of the system.
Currently, Tezos is priced at $1.28, having risen by 11.90% in the past 24 hours, with a trading volume of $631.82 million, an increase of 239.64%. Its market cap is $1.3 billion, up by 11.94%. Its price significantly exceeds the 200-day simple moving average (SMA) of $0.78, with an increase of 62.73%.
From a market performance perspective, Tezos has shown an upward trend on 18 trading days in the past 30 days, accounting for 60% of total trading days. Its 24-hour trading volume to market cap ratio is 0.8527, indicating strong liquidity. Meanwhile, its 14-day Relative Strength Index (RSI) is 65.63, showing a neutral market sentiment, with a possibility of lateral consolidation in the short term, but a bullish trend still has potential in the medium to long term.
BONK
Bonk is the strongest performing memecoin in the SOL ecosystem.
Data reveals that on days when SOL experiences positive gains, BONK's increase is approximately 4.5 times that of SOL.
The market operates on the logic that whenever SOL's price rises, Bonk often shows even more remarkable gains, making it a popular choice among market speculators.
Given that SOL is about to break out and Solana leads the memecoin sector, BONK's future performance is certainly worth close attention.
WIF
In the current market, meme coins have regained popularity. WIF stands out as it leverages fresh memes, offering something new compared to other currencies like Dogecoin or Shiba Inu. Its potential lies in its growing community and the virality of the memes.
As more people share and participate in Dogwifhat content, this token may receive increasing attention. Although the cryptocurrency market is always changing, WIF's unique appeal and strong support for Solana make it an interesting option worth watching.
SHIB
Key highlights: The ecosystem is continuously expanding, including layer 2 blockchains, decentralized finance, non-fungible tokens, and metaverse projects. There is a token burn mechanism that reduces supply.
Growth forecast: Moderate expectation: the ecosystem develops smoothly, which could lead to a 5 to 10 times increase. Optimistic prediction: if DeFi and gaming sectors are widely adopted, it could increase by more than 15 times.
