Yesterday, Bitcoin once again showed strong upward momentum. It can be considered that the correction phase of Bitcoin has ended and it is now heading towards the target of $100,000!
Although there are only two days left in November, it is still possible to break through $100,000 within this month. However, the protagonist today is not Bitcoin, but Ethereum.
Next, let's talk about several major signals that clearly show the trend of a bull market. From historical experience, a bull market usually starts six months after the Bitcoin halving, which means that October this year is the starting point of this round of bull market, and everything has just begun. Looking ahead, Trump will officially take office on January 20 next year, and is expected to introduce a series of policies that are beneficial to the cryptocurrency circle and fulfill his previous promises. In addition, the United States will continue to maintain its interest rate cut policy in the first half of next year, and market liquidity will reach trillions of dollars, which provides strong support for the continuation of the bull market. It is expected that the bull market will continue at least until the second half of next year, and may even last longer due to the promotion of institutions and large capital.
What needs to be done next is to choose the right track and target, and seize the opportunity without worrying too much. The previous concerns about Ethereum have been broken by the market performance, and the voices of bearishness have also disappeared. For ordinary investors, the key is to believe in the general trend of the market and follow the trend to gain something.
Finally, let's look at today's Bitcoin market analysis. From a technical perspective, the 1-hour level shows a sideways upward trend, the 4-hour level is bullish, the 12-hour level shows signs of rebound, and the daily level is slightly bearish. The short-term pressure level is $98,100, and the support level is $92,400.
ETH continues to gain momentum, and the altcoin explosion season is approaching!
The crypto market continues to be hot, especially Ethereum, which has performed particularly well in this round of rebound. After experiencing a correction in the market, Ethereum showed strong momentum to catch up, reaching a high of $3,684, continuing its upward momentum.
At the same time, the options market remains optimistic about Ethereum's subsequent performance, and some analysts believe that ETH's explosive potential may surpass Bitcoin. Against the backdrop of the upcoming launch of the ETH pledge ETF, the future potential of Ethereum is widely favored by the market.
Not only Ethereum, other crypto assets have also attracted the attention of investors.
For example, pledge and re-pledge projects such as Ethfi, Eigen, Rez and Ldo have experienced significant recent increases, providing more reasons for OTC funds to enter the market. As Ethereum rebounds strongly and market sentiment gradually heats up, the altcoin market may usher in a bull market opportunity, and we are looking forward to this possible outbreak season.
Competition in the field of artificial intelligence is extremely fierce, and various emerging currencies are emerging one after another, especially meme coins on the Solana platform, which have become increasingly popular.
The altcoin explosion season is approaching, and the following tracks deserve special attention:
1. Meme Track
The popularity of Meme coins has always been high, especially recent projects such as Bonk and Wif, which emerged at the end of 2023 and set a new historical high in early 2024. Meanwhile, classic meme items like Pepe and Shib have also seen significant gains.
2. AI track
Since the AI concept hit the bottom in 2022, it has seen a sharp rise in early 2023, sweeping not only the crypto market, but also the traditional stock market. Recently, AI projects represented by FET have regained their strength, and AI-related projects such as WLD and ARKM have also frequently recorded significant gains.
3. Public chain track
The public chain is an important sector that cannot be ignored in every bull market. From the classic Solana and Ada to the emerging Sui and Sei, this track has never been absent in the main upward trend in the past.
