How to view the cryptocurrency market next:
1. The current pullback is an adjustment within the bull market, which has lasted about 10 days and is nearing its end. The season for altcoins has arrived, but a collective breakout has not yet occurred. The market is waiting for Bitcoin and Ethereum to lead, and currently, only a few individual coins have started to rally, while the majority of altcoins have not officially begun to rise and are still oscillating sideways, with the market awaiting a counterattack signal from ETH.
2. Technical analysis: Various technical indicators for BTC (such as MACD, channel, KDJ, etc.) have fallen to low points, and there has been no significant volume during the downtrend. If the current support levels can hold, the chances of a rebound will increase.
3. Capital flow: A large amount of capital has already been seen buying at the bottom, providing support for the subsequent rebound.
4. News: Trump is expected to take office at the end of January, which may bring more policy changes and positive expectations for the cryptocurrency market. The staking feature for Ethereum is expected to be launched after Trump takes office, which will further enhance Ethereum's appeal and is expected to attract a large amount of buying interest. Staking applications are likely to surge in January. Meanwhile, before the Christmas holiday, approximately $131 million has flowed into the market, indicating that institutional investors are also looking forward to the launch of the staking feature.
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