After Powell's speech triggered a sharp drop, Eastern countries have all woken up. Japan has no expectation of interest rate hikes, and the market rebound is tepid, indicating that Asian funds can no longer reverse the trend. This is a result of being consumed by multiple 'wolf is coming' warnings.
The peak of this year may have already been reached. As for where it will pull back to and when it will start rising again, we can slowly study it in January. The next relatively ideal high point is around 108,000. Additionally, with Christmas coming up, we need to manage our positions well. Currently, as long as the market does not crash suddenly, a short-term pullback can be beneficial for the development of a long-term bull market. After all, some profit-taking investors will choose to cash out, which will make the market lighter.
The January market for Bitcoin is promising.
Today, everyone is already well aware of the discussions regarding interest rate cuts and old Powell's speech, so I won't elaborate. Instead, let's discuss the subsequent market trends.
Currently, there is no need to be too pessimistic. In January, Trump will be in office, and this time the understanding of the king will be different from before. The Senate will be under his control, making it easier to push forward some matters. Today, old Powell said that the Fed does not have the qualifications to buy Bitcoin and does not wish to seek legislative changes to promote this matter. However, if Trump insists on pushing for strategic reserves, it is not impossible for Americans to establish Bitcoin reserves. Therefore, the bad news we see today may actually be a reverse positive for the future.
In January, there will also be FTX compensation, with $16 billion or equivalent legal currency compensation. Some of this will flow back into the crypto circle. Coupled with the resumption of US ETFs, it can be seen that the January market is still worth looking forward to. Therefore, this pit will likely be dug at the end of December or early January, which is a key point for the funds looking to escape the peak.
But it should be noted that while January next year is worth looking forward to, we cannot let our guard down. Market cycles are highly volatile, and investors need to pay attention to risk control.
Corrections and opportunities! Prepare to buy the following three altcoins to be ready for a 100-fold explosion in the bull market!
1. ADA
Whale activity for Cardano has significantly increased, indicating a revival of investor confidence. Recent data shows that large holders have accumulated 80 million ADA tokens in the past 48 hours, worth approximately $85.6 million. This surge in trading highlights strong interest from major investors, suggesting an optimistic outlook for ADA's long-term performance.
The Cardano network emphasizes its commitment to peer-reviewed research, ensuring that technological developments are robust and thoroughly tested. As the ecosystem continues to progress, the increase in whale numbers reflects expectations for further price increases.
It is predicted that the value of ADA could rise sequentially to $1.46, $1.76, and may even reach $2.04. Currently, ADA's trading price is $0.97, up 2.12% over the past week and up 38.41% over the past month. This persistent upward trend has caught the attention of investors and strengthened market confidence in the Cardano network.
The increase in whale activity highlights the growing interest of institutional investors and strengthens speculation about the price trend of ADA. With the further development of the ecosystem and increased investor participation, Cardano remains a key cryptocurrency that needs close attention.
2. JUP
The current price of Jupiter (JUP) is $0.923. Jupiter's trading price is significantly above its 200-day simple moving average (SMA) of $0.003332, higher by 30,294.77%. Despite its strong technical position, current price sentiment is bearish, and the fear and greed index shows 81, indicating extreme greed in the market. Jupiter also exhibits high liquidity, reflecting its stability based on market capitalization and investor confidence.
Although there is clearly bearish sentiment for Jupiter in the short term, its long-term outlook remains optimistic, with significant potential for price growth and investment returns. Investors may find opportunities in the upward momentum over the next year.
3. AAVE
Aave DAO has approved a joint incentive activity to promote the adoption of PYUSD on Aave and improve the liquidity of PYUSD/GHO. This will be achieved through the newly created Balancer pool on Ethereum. The plan aims to increase the amount of PYUSD deposited into the Aave protocol, with a target of achieving a total deposit of 75 million units.
In addition, Aave's total locked value (TVL) is $22.29 billion, with a market cap to TVL ratio of 0.2501. From a technical perspective, AAVE's trading price is significantly above its 200-day simple moving average (SMA), currently at $160.37, with an increase of 131.61%.
The 14-day relative strength index (RSI) is 65.44, indicating a neutral outlook with potential sideways movement. Additionally, Aave has experienced 19 up days in the past 30 days, accounting for 63% of the period. Relative to its market capitalization, it continues to exhibit high liquidity.
Market sentiment remains optimistic, and the price prediction outlook for Aave is bullish. Meanwhile, the fear and greed index shows 87, reflecting extreme greed among market participants.
