24/12/03 BTC high-level oscillation washout, ETH rebounds under pressure and falls back, MicroStrategy buys another 15,400.
MicroStrategy increased its holdings by about $1.5 billion to 15,400 BTC, currently holding 402,100 Bitcoins, with a total purchase cost of about $23.4 billion and an average purchase price of about $58,263.
According to FOX Business reporter Eleanor Terrett citing sources, Trump is expected to announce the successor to the SEC chairman as early as tomorrow.
The US government transferred Bitcoin last night and may not have sold it yet. They plan to distribute it in batches through wallets or have already been taken by some institution through OTC transactions, without flowing into the secondary market.
Bitcoin
Bitcoin has been in a high-level oscillation, with MicroStrategy announcing an increase of 15,400 BTC last night, while the US government transferred 19,800 BTC, approximately $1.92 billion. The market rose quickly from 94,700 to 97,356 and then quickly fell to 94,395 for consolidation. So, as we previously predicted, this rapid rise will lead to a period of high-level oscillation and adjustment similar to the trend in December 2023.
The daily line is still supported within the rising channel, and the price also closed above 94,600, but this is not a stage bottom. If it retraces to 90,800 and finds support, it can actually be considered to go long, aiming towards around 98,000. This high-level adjustment will last until the end of the month, two weeks before Trump takes office, and by then, the Chinese New Year red envelope market is worth looking forward to.
Support:
Pressure:
Ethereum
Ethereum dipped back to 3,556 yesterday. If the rebound fails to break through and set a new high, the probability of a pullback increases. It has formed a 123 pattern, and we have reminded friends who chased altcoins after the rebound that they can only operate short-term to secure their profits.
The altcoin season indicator has reached 80, historically, when it rises to around 98, the probability of a decline is high. So everyone should grasp this wave of altcoins well. The total market cap of altcoins (Crypto Total Market Cap Excluding BTC & ETH) is already close to the high point in November 2021, so in 1-2 weeks the altcoin indicator will reach its peak.
In terms of altcoins, select a few that may rebound from relatively low levels, controlling ZETA, AR (mentioned before), ALT...
Support:
Pressure:
