After experiencing a pullback before Christmas, this year's Christmas did not turn into a Christmas massacre. The crypto market warmed up across the board, and Bitcoin broke through the psychological barrier of $98,000, rising as high as $99,487, bringing a 'green Christmas gift' to global Bitcoin bulls.
Looking at the big brother of altcoins, Ethereum, it is also very powerful, leading a group of younger brothers into battle, and the entire market seems to be warming up. Currently, Bitcoin's price has slightly retreated and stabilized around the $98,000 level.
This wave of rebound has risen by a full 6 points! Air force brothers, this time you really stumbled! Is it that foreign friends are busy stocking up on 'New Year goods' before the New Year, or do they not accept gifts during the New Year and just recognize BTC as 'digital gold'? Anyway, this wave of Bitcoin is really comfortable.
Market outlook: The turning point of the bull market is coming!
This wave of increase has also revitalized the bulls, with total liquidations exceeding $230 million in the past 24 hours. Such a large-scale liquidation phenomenon also means that short-selling sentiment in the market is gradually dissipating, with more investors beginning to turn to bullish sentiment.
Moreover, in the upcoming January, there will be many narrative aspects to discuss. First, around the 6th of the month, FTX's first round of compensation is expected to be around $16 billion. Objectively, most of this capital will flow back into altcoins, after all, the cost-effectiveness of Bitcoin at this position is not high. The value targets are expected to benefit ETH, SOL, and SUI, among other strong leading public chains, with direct benefits expected in the FTX concept series, such as FTT, which has started to rebound strongly in the past few days.
After that, Trump took office, and with the introduction of a series of economic stimulus bills and cryptocurrency regulatory policies, the market was directly driven to surge strongly. When the strategic holding of Bitcoin rose to the position of global supremacy from the perspective of institutions, Bitcoin had already led retail investors to cross classes, becoming something many of us can only look up to. Therefore, from the perspective of early layout, if there are opportunities in the near future, besides the FTX concept, the Trump concept and the Musk concept will become the main themes in January next year!
When will the altcoin season actually arrive?
It may be a bit heart-wrenching, but retail investors currently do not have enough Bitcoin to buy even one BTC in the future. Most people hold altcoins, and the altcoin market influences each of our wallets! To put it bluntly, a major market trend will first welcome a small altcoin market, then make a slight adjustment, and finally usher in a major altcoin market!
This round of market has lasted for three months, and BTC has reached the critical position of $100,000, which urgently needs adjustment. At the same time, its market share has also declined, oscillating for about four weeks, and the adjustment time has arrived, which provides a foundation for the explosion of altcoins. Perhaps the altcoin season is on the way!
What strategy should be used to navigate the current market?
The current market is in a relatively complex stage. For Bitcoin investors, continuing to hold Bitcoin is beneficial, as Bitcoin has already achieved 5-6 times profit in its increase. If you choose to exit, it does not mean missing the opportunity, as Bitcoin itself has already gained a great return.
However, for some altcoin investors, it is also important to remain patient. After all, the wild rise of altcoins will come. The current market liquidity is still insufficient, but the general trend has been established, and an altcoin bull market can still be expected in the coming months.
After all, with the flow of funds, we have reason to believe that these funds may further flow into the altcoin market next!
As for which bottoming strategies to focus on, some potential sectors and cryptocurrencies can be highlighted. There are a few cryptocurrencies that may have good opportunities in the short term:
AAVE:
As for AAVE, it was actually favored by major institutions at the beginning of this year, especially the Trump family's WLFI is very optimistic.
SUI:
As for SUI, it actually looks like it still has considerable potential as an independent main chain.
Its advantages are high performance and a very strong rebound ability within the SUI ecosystem.
The ecosystem has always been very rich.
Doge:
Dogecoin, as a long-term focus cryptocurrency, despite its increase and rebound not meeting expectations, still has strong market appeal due to the support from celebrities like Musk. Recently, Dogecoin's price experienced a significant correction, but it is now close to the bottom of its ascending channel, so long-term investors may consider buying at the current price range. Especially with the approach of the 2025 bull market, Dogecoin's market performance may welcome new opportunities.
Although there are still some downward risks, the rebound of Bitcoin seems to be accumulating more upward momentum in the current market environment. If Bitcoin can break through and stabilize above the resistance level of $98,500, it will drive the market to welcome a strong upward trend. With the intensification of short liquidations and continuous buying in the spot market, Bitcoin is expected to welcome a breakthrough rise in early 2024.
In the coming days, the market will continue to focus on whether Bitcoin can break through this key technical level. If it successfully breaks through, the historical high will be within reach, and the investment sentiment in the market will further heat up.