On December 18, Bitcoin BTC continued to hit new highs, but the situation of altcoins was not good. Most of the funds flowed into Bitcoin, and there was not enough money left to pull up altcoins. Bitcoin has been hitting new highs, and those big funds are worried that it will pull back and bring down the entire market, so they dare not easily pull up altcoins. In the last round, many altcoins doubled from the bottom, and now they have to pull back to wash out the previously profitable positions and change hands.
When will altcoins start to rise? From past experience, when Bitcoin rises to a new high, altcoins will not rise with it. We have to wait until Bitcoin falls back from a high level and can go sideways for more than seven days. Moreover, altcoins have started to fall back and change hands since December 7th, and it has been 10 days now. We still have to wait for about two more weeks. It is not yet time for it to rise.
Key moment: Tomorrow at 3 AM, the Federal Reserve will announce the interest rate decision and economic outlook summary. If nothing unexpected happens, a smooth rate cut in December, along with signals for potential rate cuts next year, could stabilize Bitcoin's price.
Today's market hotspots to focus on:
The current performance of meme coins is average, altcoins are bleak, only Bitcoin is reaching new highs.
1. The Federal Reserve announced a 25 basis point rate cut early Thursday morning, and the interest rate decision is set. Pay attention to market fluctuations brought by the meeting in the evening.
2. The Bitcoin Policy Research Institute drafted an executive order for Trump, suggesting that Bitcoin be regarded as 'digital gold' and establishing a Strategic Bitcoin Reserve (SBR).
3. It is expected that the Bitcoin rally will only begin in 2025, and the current stage is just a preparation. BlackRock released a 3-minute educational video explaining the core concepts of Bitcoin, which is worth learning.
4. After $PENGU went live, it could not be received due to network issues, but on-chain monitoring detected that the team address was selling, and retail investors did charity for the team. This once again confirms the characteristics of meme coin markets this year, where communities and retail investors prefer pure meme coins rather than VC coins or team coins.
5. BN frequently lists new coins, but some listed value coins like $VANA, $MOVE, $ME, etc. have seen severe declines, poor liquidity, and projects are offloading.
6. BN has launched a Binance Alpha similar to the Sci-Tech Innovation Board, where new coins must be filtered first, and the effect is yet to be observed.
7. The Bitcoin L2 project Stacks has launched sBTC.
8. The co-founder of BIO Protocol announced that the BIO token will be launched on Solana, and plans to airdrop to communities such as Big Pharma.
Although altcoins did not experience the universal surge seen in March, and most tokens have not reached the highs of March, there are some projects that are performing well, continuously setting new stage highs. Let's talk about the potential coins you can continue to follow!
ONDO, even before being listed on Binance, has already reached an all-time high, with FDV reaching $20 billion. This is a leader in RWA (Real World Asset Tokenization), with BlackRock involved, allowing users to purchase US Treasuries with stablecoins and enjoy their returns.
ENS, this is the Ethereum name system, and also one of the non-financial applications frequently mentioned by Vitalik, allowing users to use domain names instead of long account names.
AAVE, this is the largest lending protocol in the entire network, with a TVL of about $23 billion, setting a historical high. When the market improves, a large amount of capital is borrowed through it for leveraged trading and other activities.
SUI, this is an L1 public chain incubated by Wall Street capital during the last cycle, originally APT was the leader, but this cycle Grayscale has opened its trust product, and the project party has closely followed meme narratives to build a meme ecosystem, gaining capital and market favor and speculation, becoming the leader.
RAY, this is a meme coin launchpad on SOL, most meme coin breakout trades occur through it, so its protocol fees rank among the top on SOL;
ZRO, this is a cross-chain protocol, its ecosystem is average, and after airdrops various data plummeted, but whenever the market crashes, the project team intervenes to support the price, and when the market improves, they pump it, showing strong performance.
UNI, on Ethereum, is also the largest DEX platform in the entire network. Previously, due to the overall weakness of the altcoin sector, its performance was also average, but recently after launching its own L2, its performance has started to strengthen.