Yesterday's cryptocurrency market felt like a small roller coaster ride; BTC caused the market to shake slightly, and those market makers wanted to pull the price back but failed.
Currently, Bitcoin is still moving in a relatively tangled manner. The overall shape still appears weak, with a top formation. From a daily perspective, the 90k line can serve as a dividing line for the strength of Q1 market conditions.
As we all know, the main driving force of this bull market is US capital.
Currently, the United States is still in a holiday state (Christmas → New Year), which indicates that liquidity is very limited, especially on the weekends.
We can see from both the US stock market and the cryptocurrency market that trading volume and volatility are relatively low. Such market conditions are quite common at the end of the year, as there are a large number of deliveries, whether it is for holiday sales or companies settling accounts. Therefore, this drop is reasonable and does not significantly impact the trend.
If you're interested, you can look back at past end-of-year market conditions, which are generally quite tangled. Except for 2020, which saw a monotonous upward trend, other years have shown volatility. Real breakthroughs tend to occur in January of the following year, so there is no need to overly focus on the market in the coming days; just be at ease.
By December 27, 2024, ETH is still awkwardly stuck at 3300 points. As BTC reaches new highs, ETH hasn’t even touched its historical high of 4800 set in early November 2021. Over the past year, it has repeatedly surged towards 4000 but has repeatedly failed.
What I want to say is that ETH, as the king of altcoins and public chains, has a deep-rooted ecosystem that has already embedded itself in every corner of the crypto world.
Various whales and even Wall Street forces have a deep involvement in ETH, with many calculations already predetermined in the last round. At that time, other public chains didn't even have the qualification to carry its shoes.
In other words, a large amount of capital and plans have already been preemptively positioned, and the script for the rise has long been designed, just waiting for specific conditions to be triggered.
Currently, the ETH spot ETF policy does not allow staking, meaning users cannot obtain staking returns and must pay management fees, which hinders a large portion of capital inflow, making the ETF less attractive.
With Trump's ascension, it is highly probable that subsequent policies will allow ETFs to provide clients with staking returns. Currently, the annualized staking yield is about 4%. As interest rates are lowered, the attraction of ETH spot ETFs may even surpass BTC, allowing one to enjoy the benefits of Ethereum ecosystem growth while also earning interest.
Additionally, I have compiled a set of data: When Ethereum rises, everything thrives!
From October 2023 to March 2024, there will be a major altcoin market, with the Ethereum Cancun upgrade occurring in March 2024.
From January 2023 to April 2023, there will be a major altcoin market, with the Ethereum Shanghai upgrade in April 2023.
From July 2022 to August 2022, there was a major altcoin market, with the Ethereum Paris upgrade in September 2022.
From July 2021 to November 2021, there was a major altcoin market, with the Ethereum Glacier upgrade in December 2021.
From November 2020 to May 2021, there was a major altcoin market, with the Ethereum Berlin upgrade happening in April 2021.
Every time before an Ethereum upgrade, there will be early hype! Every time good news lands, the market tends to end.
When is the next Ethereum upgrade? The Prague upgrade in March 2025!
In the past, favorable promotions for Ethereum have typically been hyped 2-3 months in advance, so I don’t need to say much more.
This year's market is difficult to operate in and the pace is fast. We will discuss the fast pace characteristic later. Currently, the control rate of altcoins is very high, and besides waiting, there are no better options in the spot market. The market is turbulent, and walking alone is lonely. Follow me for daily potential layouts and bull market strategy layouts.
