Why can't this 'curse' be broken?
At the beginning of each month, the cryptocurrency market almost always sees a pullback. Bitcoin is currently testing the support level near $95K; if it holds, it may continue to challenge the six-figure mark; but if it fails, it may need to test again and see if the $90K integer level can hold.
So, will December follow the old routine—first pullback then surge, or will it completely cleanse the market? How will altcoins perform?
Currently, with Ethereum's strong rebound, some altcoins have already seen a certain increase, so slight adjustments are normal. The real bull market is brewing, and appropriate pullbacks are opportunities for us small investors, which will not affect the overall trend of the upcoming bull market.
Returning to today's BTC market analysis: From the candlestick chart, the 1-hour, 4-hour, and 12-hour levels are all leaning downwards, while the daily level is weakly flat. Today's resistance level is at $98,100, and the support level is at $93,300.
So, will December follow the previous routine of pullback and then rise, or will it be a complete cleansing?
First, let's look at Bitcoin's current market cap proportion, there may still be some room for a pullback. Of course, this also means that altcoins may have opportunities for catching up. As Bitcoin's market cap declines, the market cap of altcoins will correspondingly rise.
Secondly, various important data and events for December have gradually been announced, such as ADP, non-farm payrolls, CPI, interest rate decisions, etc. Additionally, whether Microsoft will make Bitcoin a reserve asset for the company is also a key point at the beginning of this month. If it goes through, it will undoubtedly increase the buying power in the market, but it will also increase market volatility. In any case, this round of the bull market is advancing step by step, from Bitcoin to Ethereum, then to mainstream altcoins, and even to some established sub-mainstream coins, just like the previous mention of Ripple (XRP) around 1.3.
Let's take a look at the situation of altcoins.
The altcoin bull market has officially started! Although Bitcoin is still in a fluctuating adjustment phase, altcoins have ignored Bitcoin's volatility, and the altcoin season is unfolding. This month, many coins will soar, so focus on those altcoins.
With XRP being the first to launch and successfully surpassing SOL, its market cap ranking has risen to third, and the valuation ceiling of the altcoin market has been completely broken. Many people do not understand why the ceiling is so important for altcoins; in fact, the value of most altcoins is difficult to quantify, and only through benchmarking against leading projects in the sector can we roughly estimate their potential valuations.
It is foreseeable that as the ceilings of various sectors are gradually broken, more related altcoins will begin to explode.
Look at those once considered 'trash coins'—EOS, FIL, THETA, LTC, etc.—these projects that have remained stagnant for years have rebounded at the bottom by up to 4 times, and they are all large-cap projects. Imagine how strong the subsequent explosive power will be for those small projects with a market cap of only two or three hundred million? I expect their upside potential to reach at least 10 times, or even more.
No matter which sector you are paying attention to, you should still closely monitor the leading projects.
MEME sector: Focus on PEPE, DOGE, SHIB, PNUT, CHILLGUY, etc.;
DeFi sector: Pay attention to UNI, AAVE, LINK, CRV, ENS, etc.;
Public chain sector: Focus on SOL, SUI, ALGO, etc.
As Ethereum enters a slow oscillation upward phase, now is the good time to look for resistant altcoins in those popular sectors and buy them in batches. This way, when Ethereum rapidly rises, we can also achieve higher returns.
If you missed the opportunities with XLM, XRP, and ADA, don't worry. Focus on the market; missing one opportunity may mean there are more waiting for you.
Today ONDO rose over 40%.
We ambushed in our group when the price was around $0.6-$0.7, and it has already doubled. Remember to take out your principal after doubling and let the profits continue to run. This way, you can achieve 'low-risk' holding and wait with peace of mind.
These assets can be held until next year when Trump takes office. Once you take out your principal, you won't have to worry too much about their ups and downs. This not only helps maintain a better mindset but also makes it easier to persist since profits are already locked in.
In the MEME coin market, MOODENG has recently risen over 80%, mainly due to Coinbase's listing of MOODENG, which has attracted market attention.
MOODENG is also one of the smallest MEME coins listed on Coinbase in recent years, worth paying attention to the effect of Coinbase's listing this time. We can see how long its popularity can last; if the consensus and popularity are strong enough, there will likely be other MEME coin projects landing on Coinbase.
Yesterday, we also ambushed some projects that might be listed on Coinbase and Robinhood. The number of users on Coinbase is second only to Binance, and with Robinhood's influence, let's see if we can get some surprises in a few days.
Overall, the capital for this round of the bull market mainly comes from the United States. From the spot ETFs of Bitcoin and Ethereum to institutional applications for XRP ETF, leading to XRP's surge, and then Coinbase listing MOODENG, it can be seen that the recent market has a very strong wealth effect, and the FOMO sentiment among American investors has also begun to ferment.
From the current trend, the altcoin season has already begun to explode. A chaotic rise in altcoins has also begun, with ADA rising several times, and even EOS, which was once considered a 'trash coin', is also rising. It can be said that this is a typical 'money-picking market'.
For ordinary retail investors like us, the best strategy is to hold steady and not change vehicles easily. Prepare potential coins in advance, hold them and wait for the rise, and seize this wave of altcoin opportunities.