Bitcoin has started its correction act again, after rising for 21 days it takes a break.
Bitcoin started to correct from a price that was just about to break $100,000, with the lowest correction reaching around $90,900, almost breaking below $90,000, indicating a correction of nearly 10,000 points.
Last time it corrected from $45,000 to $30,000; will a similar pattern happen this time? However, smart investors know that when Bitcoin corrects, it is the best time for Ethereum and small coins to shine. Those small coins seem to ride the wave and surge.
Bitcoin's price continues to rebound, driving most altcoin sectors in the past 24 hours, led by Ethereum (ETH). Therefore, the rotation of crypto cash greatly benefits altcoins.
Led by Ethereum (ETH), it surged over 7%, reaching an intraday high of approximately 3,682. As a result, nearly $300 million was liquidated from the crypto leverage market, most of which involved long traders.
Many people start to panic when they see Bitcoin correcting, and by the time it rises again, many have already shifted to smaller coins. Now is a good time for us to pick those small coins that haven't risen much but have potential; we might be able to reap considerable benefits!
Let’s discuss a few clear trends of the bull market:
First: The bull market may not end until at least the second half of next year and may even last longer; BTC may experience a prolonged bull market (if significant favorable factors appear, it will continue, such as large investments from listed companies and some as strategic reserve funds).
Second: On January 20, 2025, Trump will officially take power, and a series of favorable policies for cryptocurrencies will be introduced subsequently.
Third: The entire first half of 2025 will still be: a year of Federal Reserve interest rate cuts, large capital outflows, benefiting the entire crypto market.
Fourth: The beginning of a bull market starts six months after the BTC halving, which officially begins this round of the bull market in November 2024. This is just the beginning! After reading these points above, doesn’t it affirm that the craziest time of this bull market has yet to come!
Ethereum's momentum is strong; is the altcoin season coming? Which tracks are worth investing in?
MEME track:
Recently, the AI track is heating up, with various coins emerging, especially meme coins on Solana, gaining popularity, and the ecosystem on Base is also gradually emerging, with new projects and tokens continuously gaining traction, making it a carnival of the bull market. Amidst this trend, today Rps surged to a market cap of 480M with a 500-fold increase within five hours, and after the confusion surrounding Mona’s decline was clarified, its price immediately skyrocketed, reaching a peak of 26M, with a low surge of 130 times.
Ethereum ecology:
Ethereum's strong return cannot be underestimated, and the explosive power of related ecological tokens might soon lead to a carnival of altcoin season!
ENS: Daily surge over 53%, becoming a leader among the top 300 tokens by market capitalization. This coin was also discussed by the sweet girl yesterday.
Puffer: Price skyrocketed by 60%.
EIGEN: Daily increase of 25%, breaking through $4.1, only less than 10% away from its historical high, currently reported at $3.77.
INST, ENA, etc.: Also performed well, becoming the new favorites of investors.
The market has new tracks and narratives, which need to be closely monitored. There are definitely other high-quality tracks in the market, but we won't list them all.
If anyone has optimistic views, feel free to comment more~!