Bitcoin continued to fluctuate around $95,000 over the weekend, reaching a high of $95,750 yesterday. However, starting from yesterday evening, it began a new wave of decline, dropping to a low of around $93,000 at about 06:30 this morning, marking a near one-week low.
Since breaking below the resistance level of $100,000, Bitcoin's price has failed to continue its upward momentum. This has led to much uncertainty surrounding future price movements.
On the daily chart, after a brief upward movement and hitting an all-time high a few weeks ago, the price has been consolidating below $100,000. A few days ago, the market failed to break through the $100,000 level and was rejected downward.
Therefore, the support level of $90,000 may be a short-term target. The reaction to this area will determine the short-term price trend of BTC.
The market initially created higher highs and lows within the rising channel.
However, after that, it broke the downward pattern and retested twice. As the RSI also shows values below 50%, indicating bearish momentum, the market may drop to the $90,000 level before a potential bullish continuation.
In the altcoin space, meme + AI concepts are still very lively. In contrast, ACT dropped significantly yesterday, and its market cap is not large. Compared to those, I can only say it is a meme coin dressed in AI. After all, the founder seems to have been FUDing it all along, mainly relying on community support. Of course, more often than not, the fundamentals are nonsense; whether to pump or not is determined by the manipulators.
However, I always believe that this adjustment is just a temporary rest in the current long-term bull market, and the real bull market will arrive next year. Observing the previously strong traditional mainstream coins, DeFi projects, and meme coins, the pullback range is generally around 30-40%. However, fundamental projects like Aave, Compound, and Curve have not experienced significant fundamental changes in the short term, and some TVLs are even increasing. Therefore, I believe that gradually entering now is feasible.
Today I heard that FTX's compensation will begin to be claimed in a few days. If true, this will inject a wave of funds into the crypto space, especially as the Solana ecosystem is currently among the most active across major public chains. Overall, the market outlook for next year is promising, with a significant improvement in the funding situation compared to before. In the short term, volatility is gradually decreasing, and indeed several cryptocurrencies have seen increases in recent days; however, the overall market is gradually cooling down. Once this trend is established, it may last for a while. However, considering the Christmas period, it might be appropriate to start building positions to aim for a good start in 2025.
Today, it's New Year on the blockchain.
However, when everyone and all groups are discussing, and a bunch of teachers start to show on-chain profit graphs, it makes me a bit anxious. Is this a short-term peak signal? At least with $BGB, I made the right call by following this signal. I continue to be optimistic about the potential of the AI Agent track, watching $Ai16z, $Virtual, $Aixbt, etc., continue to explode. I also believe that $8 is not the peak for $BGB. However, 'buy where no one cares, sell when the crowd is noisy'; taking some profits on positions is still good, even if you miss the peak. I have taken some profits on on-chain earnings and have set low bids for the targets I am optimistic about.
Only 3 days remain until $BIO goes live on Binance. How much can its market cap increase?
If nothing unexpected happens, bioprotocol is expected to become a leader in the DeSci track after its launch. Therefore, the market capitalization performance of $BIO at opening will be critical, representing the current market cap ceiling of the DeSci track.
However, there are a few points to note:
1. The circulating supply ratio is relatively large, reaching 39.05%;
2. Early community auction participants (including myself) had a low cost; 12.57% of the tokens were released at TGE, which may bring some selling pressure.
Historically, participating in new projects through BNB usually does not result in losses. If this trend continues, the price of $BIO could reach at least 1.364. The project still has a few days of mining opportunities; those with idle funds can continue to mine and seize the chance!
$ATA surges due to:
The first token based on Trusted Execution Environment launched by aipool_tee, $METAV, is on fire. This is a token autonomously issued by AI based on TEE technology. This has ignited all TEE-related projects like $PHA, $ATA, $POND, and $SCRT.
Project introduction: Decentralized privacy service protocol.
Increase: 1x Market Cap: $120 million
Led by $virtual and $ai16z, there are also the following worth paying attention to.
$arc: has attracted a large number of developers and uses a unique Rig framework. In the future, tokens within the ecosystem will adopt a model similar to $virtual, trading only in pairs with $arc.
$hat and $vvaifu: AI Agent incubation platforms that are gradually gaining market favor.
$ora: has also launched an AI Agent incubation project.
$vapor: an AI Agent platform built using the AI16z framework within the HYPE ecosystem.
$spore and $fxn: have derived their own AI ecosystem using unique mechanisms, showing strong innovative potential.