BTC has experienced a wave of both long and short liquidations in small timeframes. After the price went up, it did not stabilize and quickly fell; both sides are quite confused. However, our take-profit signal for long positions was quite timely. For now, the position will continue to fluctuate. As long as it doesn't break the support range of 69,000-68,700, we are still looking at a wave of upward trends.
Pay attention to two major events next week!
1. The results of the U.S. election on November 5th may be announced that evening, so it is best not to hold positions overnight on November 5th.
Do you remember the day Trump was elected president? The futures market went from limit up to limit down, and many people got liquidated in one day.
2. The U.S. monetary policy meeting from November 6th to 7th. If interest rates are lowered, the stock market may see another wave of increases. If not lowered, the stock market will continue along its original trajectory.
According to the U.S. non-farm payroll data, this monetary policy meeting is expected to lower interest rates by 25 basis points. However, combining these two factors makes the situation more complex, and the financial market may experience greater volatility.
Trump's data has declined a bit in recent days, while Harris's has actually increased. However, according to data from Yiwu, Trump's celebration orders this year are greater than Harris's.
With the election approaching, any related coins should be sold if necessary, such as People, Fight, etc. Once the election results are out, a correction may begin, just like past hot topics during the European Cup and Olympics. People thought fan coins like Santos and CHZ would soar, but they remained stagnant and kept correcting. It wasn't until two weeks ago that they became ignored, and 90% had sold before it surged.
Next week will reveal the results, and there is no need to be overly concerned. Whether it is Trump or Harris, there will be an increase. Only Trump will see Bitcoin rise quickly as a national reserve currency, while Harris may drop first and then rise. Institutions like BlackRock have accumulated so many chips at this price; they are certainly looking to make a profit. However, the main players need to control the subsequent trends and will need to wash enough positions before they can start pulling the market.
Breaking new highs, mainstream media publicizing, attracting more funds from the outside, harvesting a big wave, the chips bought now are similar to the prices set by the main players, so there is no need to worry; pulling the market is just a matter of time.
No altcoins, no bull market. Bitcoin and Ethereum are equivalent to the capital of a country and its first-tier cities; the flow of funds is just a matter of timing, definitely from large to small. Also, the reason why ETH and SOL have high popularity is that they are thriving ecosystems. Coins like SUI are strong on their own but lack ecosystems, so there is no need to worry that altcoins won't rise.
Rewind to March, many altcoins had risen 5 to 10 times and were still just warming up. I haven't heard anyone say altcoins don't have a bull market. Most people just follow the crowd or create anxiety among retail investors to benefit themselves. Now, these coins have large market values; after such a drop, the future will certainly see many coins rising 10 or even several dozen times.
Shiba, Doge were the coins with the most retail investors entering back in the day, and they are still the hottest altcoins now. The reason is that they provided retail investors with an entry ticket.
Typically, retail investors come in with a few hundred or a few thousand dollars to test the waters; no one will buy Bitcoin. Retail investors are the foundation of a bull market.
So when a bull market arrives, it wants to let countless retail investors in, it must pull altcoins, and it must be altcoins to attract more outsiders. The last wave was Pepe, and they all share a common characteristic, which is a low price. This is also a speculative psychology of human nature; as long as you buy into popular segments and popular coins, they will rotate and take off, and you don't have to worry about whether there will be altcoin bulls, they will definitely come.
