BTC breaks the "bull-bear divide", and a new rally is ready to go
BTC breaks through the "bull-bear divide" again, indicating that a new rally may be about to start. We are heading towards the second stage of the bull market, which is expected to push altcoins to new peaks.
Looking back at history, the healthy pullback in the crypto market has laid a solid foundation for the rise of the bull market. In each cycle, BTC will achieve a strong breakthrough after being blocked at its historical highs, which is behind the market behavior of traditional investors selling and new investors buying. Today, whales are buying BTC in large quantities, and the supply on exchanges continues to decline, accumulating momentum for future gains.
The 90-day "quiet period" after the halving is about to end, which is a historical law of Bitcoin and the crypto market. During this period, BTC changes hands, from new investors to traditional investors, laying the foundation for future gains. Now that we have passed most of the "quiet period", the market is about to usher in new changes.
In the third quarter, the selling pressure on BTC is easing. The selling pressure caused by events such as mining companies, Grayscale, the German government, and Mt. Gox is gradually dissipating, and the market will gradually stabilize. By the fourth quarter, buying pressure is expected to increase, driving prices higher.
The US election, interest rate cuts, and FTX customer refunds will all be key factors driving buying. Cryptocurrency has become a key issue in the US election, with both parties vying for the support of crypto voters. At the same time, as inflation cools and the possibility of interest rate cuts increases, risk asset prices are expected to rise. And FTX customer refunds will also inject new liquidity into the market.
The influx of funds will help push altcoin prices soar. Just a little more patience, a new uptrend is about to begin.
The question is, are you ready?
Wumenkan: Boil Page Reduction
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