Bitcoin is the best performing asset this year

Despite a “seasonally weak” third quarter, Bitcoin remains the best-performing asset so far this year. But its lead has narrowed. Bitcoin is up 49.2% so far this year. Trading has remained largely range-bound for much of the past six months amid major headwinds such as the Mt. Gox and Genesis creditor distributions totaling nearly $13.5 billion and massive Bitcoin sales by the U.S. and German governments.

Other assets such as precious metals and certain stock sectors rose relative to Bitcoin, and most asset classes had a stellar year. Bitcoin also bucked the trend in September, which is typically a bearish month for Bitcoin, rising 10%.

From a technical perspective, Bitcoin has broken through the 200-day moving average and is firmly above the average price line for short-term holders. The $60,000 to $61,700 range is a key support level and holding this level will further solidify the uptrend. If the price breaks through $65,000, it will significantly boost market confidence. If the CPI data released at 20:30 this Thursday is positive, the market is expected to completely reverse.

Ethereum has reached above $2,500, and the weekly price of Bitcoin closed above the EMA15 moving average, and the 2-day moving average also stabilized above the 20-day EMA moving average. Under the resonance of multiple cycles, Bitcoin has the potential to rise further. If it continues to rise, it may start a trend. At present, the market has a bullish trend, and many altcoins are at low levels. It is a good time to lay out and build positions!

Let’s take a look at where the market focus has been recently.

1. MEME coin performs strongly

Recently, MEME coins such as NEIRO, SPX, FWOG and MEW have risen sharply, among which NEIRO is the leader, and the exchange is secretly manipulating it. SPX is an old MEME coin, and its market manipulation method is similar to MOG; FWOG is the "Frog MEME" of the PUMP.FUN platform. It is worth noting that the long fee of POPCAT contracts is as high as 200%.

2. The rise of new public chains

The new public chains SUI and SAGA have performed well recently, with SUI's market value reaching $20 billion, close to its historical high, and SAGA will remain locked until March 2025. The current market is mainly speculating on MEME coins, new public chains, and artificial intelligence (AI).

3. Fan Coin Craze

Football-related fan coins such as OG, SANTOS, LAZIO, ALPINE and PORTO have performed well. OG was once a local market maker. Historically, these fan coins have usually been pulled up when the market falls.

4. The craze of emerging currencies on the chain

MOODENG, the on-chain currency of Ethereum, has skyrocketed dozens of times in a week, attracting much attention. After the charity event, Hippopotamus received a response from the founder of Ethereum, Vitalik Buterin, and its market value on the ETH chain reached $100 million, close to Hippopotamus on the SOL chain. This has promoted the active trading of MOODENG on the chain, resulting in a sharp increase in GAS fees.

Xiao Miao has something to say about the new public chain SUI: It is like Solana last year. In recent days, the performance of SUI tokens has been very impressive, and the next month will be a critical moment. Once SUI rises to $5, the meme coins on the chain will have at least a 10-fold increase. I have already configured these 4 meme coins myself.

As for spot SUI, I think SUI can be shorted in mid-to-late November because this strong market will not form an A top. Even if the upward trend disappears, it will enter a two-month trading range. As a distribution range, as long as the goods are not sold out, the price will not fall below. At this time, there is almost no room for shorting, and rebounding to 1.75 will only face stop loss. I have always been bearish, but not blindly rushing in, but patiently waiting for opportunities. At present, SUI has shown signs of shipment, and the range is still a shock band, and there is no continuous decline in the right side of the short. Therefore, we can expect opportunities for long positions in the band.

Today's article ends here. We are currently in a bull market, and the situation is turbulent. We share passwords every day. If you don't know what to do in a bull market, welcome to follow us. Bull market spot passwords and layout strategies can be shared free of charge.

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