Good afternoon, everyone. The market has corrected again, which can be seen as an opportunity to enter during a bull market pullback.
In the past 24 hours, there have been numerous liquidation events in the market, with 170,000 people liquidated and a total liquidation amount reaching 516 million USD. These liquidations reflect the high leverage in the market and the extreme volatility of investor sentiment. However, despite the market turbulence in the short term, this correction can still be seen as a healthy adjustment process.
I believe that Bitcoin's correction is not just a price fluctuation; more importantly, it is a redistribution of funds. Short-term investors quickly absorbed selling pressure during the previous uptrend, while long-term holders began to gradually shift their assets, a behavior that is very common in a bull market. In fact, long-term holders' profit margins have already exceeded 350%, and their selling behavior provides enough buying support for short-term investors. This transfer of funds will help the healthy development of the market and accumulate the necessary momentum for future increases.
ETH's market performance is better than BTC
Compared to BTC, ETH shows a more independent market trend. Recently, ETH's price completed a short-term bottom around 3000 USD, and this price area is considered a strong support level. The movement of ETH is closely related to Bitcoin, but its potential in application scenarios such as technological innovation, DeFi, and NFTs makes ETH's position in the market increasingly important.
For ETH, after breaking through the historical resistance level of 3550 USD, it may enter a phase of independent upward movement. In the short term, ETH's strong performance may receive further support during Bitcoin's correction. When Bitcoin's price recovers, ETH is very likely to take the lead in gaining momentum, and even show strong resistance during Bitcoin's correction, making ETH a focus for investors.
Market trend prediction for the future
According to historical trends, the current movement of Bitcoin is similar to that of 2020. It started to rise in October and doubled by the end of November. At that time, Bitcoin rose from 10,000 USD to 20,000 USD; this time it is from 50,000 USD to 100,000 USD. In the last week of November every year, especially on 'Black Friday', the market often experiences corrections, mainly because many retail investors sell some assets for consumption.
Although there is not much capital outflow, many investors anticipate a market correction, so even if they do not consume, they still choose to sell at high levels, which exacerbates the downward pressure on the market. During last November's 'Black Friday', Bitcoin corrected by 16%. This year's correction may be slightly smaller, but if Bitcoin's price can stabilize around 87,500 USD, it could be a good buying opportunity.
Opportunities in altcoins
Currently, the performance of the altcoin market is in its early stages. Although some old altcoins have surged recently, this is just an appetizer; the real market has not yet started. When Bitcoin breaks through 100,000 USD, the entire market will enter an acceleration phase, and a large amount of capital will flow into the market, leading to a surge in both Bitcoin and altcoins.
Ethereum's performance will be a key factor for the altcoin market. The strong rise of ETH will trigger a follow-up rise in other altcoins, so the rise of ETH we see now is a signal of market recovery. Once Bitcoin recovers, ETH and other altcoins may start to gain momentum as well.
Which tracks will become hotspots in the future?
In addition to Ethereum, other tracks in the market will also be worth investors' attention. First, the speculation in Meme coins may heat up again. Due to the influx of large funds and strong narrative speculation, some Meme coins like DOGE have achieved significant gains in the short term, and other Meme coins based on similar models may also see a wave of popularity. Secondly, public chains, AI, and gaming tracks are also worth paying attention to, especially as market funds continue to flow in, projects in these tracks may explode with greater potential in the future.
Overall, the current market is still in a stage of adjustment and redistribution, but there is still huge potential for future growth. Investors just need to be patient, manage risks well, and seize the right timing for entry after the adjustment; the future cryptocurrency market will still be full of opportunities.
