December 14, 2024

Happy weekend! The market is relatively calm. Although Bitcoin has once again broken through 100,000, the fee data remains low, indicating that the market's following sentiment has not yet risen. The main reason is still the crash on the 10th, where 1.7 billion in liquidations made the short-term FOMO bulls more cautious. I still believe that the focus will be on market recovery. If we can smoothly pass through Christmas, the market will likely be led by Bitcoin to drive the overall market after the holiday.

The first significant pullback in this bull market, the duration of the adjustment is still unknown. I believe it may evolve into a halftime break, meaning a sideways adjustment lasting 1-3 months. Of course, this judgment may also be inaccurate, as the strong sectors have not yet reached the selling phase, such as the DeFi sector and strong mainstream assets like CRV and BLUR, which again made it to the gainers' list today. It is clear that the main capital is still driving the market. However, the market sentiment has not been stimulated.

Additionally, it is worth noting that the recent AI concept has begun to develop towards commercial applications, which is different from AI memes that are just cultural symbols or community consensus. The application of AI can generate real commercial value. Currently, this sector is still in the initial construction phase, but there can be many projects around AI. The application layer is one thing, and there are many projects related to data and AI infrastructure. More importantly, this can directly integrate with internet AI projects. Therefore, if developed well, it may represent another territory for the commercial application of blockchain technology.

As for the market, it would be wise to reduce positions at the 100,000 level and then observe the situation for further trading. The specific amount varies from person to person, but the core idea is to reduce positions. Even if Bitcoin's price breaks through 100,000 again significantly after a smooth Christmas, some may think I am being too conservative. However, the mindset of reducing positions during a bull market is important; one must always believe that there is no eternal bull market. Not taking profits in a bull market will result in holding high-priced chips. Selling may also be a form of wisdom.

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