The global cryptocurrency market saw a notable rise today, with the market capitalization rising 1.98% to $2.24 trillion. Trading activity surged, with 24-hour trading volume up 27.28% to $57.9 billion.

The price of Bitcoin remains the focus of traders, with a slight increase of 1.73% in the past 24 hours. The price broke through the $64,000 mark and rose all the way to $64,850 before falling. At the time of writing this article, the price reached $64,472.

In terms of macroeconomics, after the strong US non-farm payrolls report, the September Consumer Price Index (CPI) also exceeded expectations. However, the September Producer Price Index (PPI) released last Friday was flat month-on-month, easing the market anxiety caused by the release of the CPI. At present, a 25 basis point interest rate cut in November is still the mainstream market expectation.

The Fed’s Role

On September 19, the Federal Reserve started an easing cycle by cutting interest rates by 50 basis points. This was the first interest rate cut by the Federal Reserve in four years. U.S. stocks and Bitcoin rose upon hearing the news, and the market of various crypto sectors also ushered in a long-awaited rebound. Under the stimulation of macroeconomic policies, can the crypto market end the "long" period of volatility and rise again?

October rebound is coming!

Meanwhile, October has been a tough month for Bitcoin, but history shows that it usually hits its lowest point around October 7-11.

This suggests that we may be about to see a price rally. Traders are watching closely as important events in the fourth quarter approach. The Federal Reserve is expected to cut interest rates by 25 basis points, which could bring more money to volatile assets such as Bitcoin.

Additionally, the upcoming U.S. election is shaking up the cryptocurrency market, and discussions about digital asset regulation are heating up. Predictions suggest that former President Trump may be more favorable to cryptocurrencies, while Vice President Harris may take a more cautious approach.

So what will happen to the market next?

Weekly level: RSI indicator is neutral, MACD has completed the retracement to the 0 axis, and there is an expectation of a golden cross on the water. The weekly indicator is difficult to change unless there is a particularly big negative (black swan) because it represents the long-term trend.

3-day line level: MACD indicator has been underwater since early July and has gradually returned to the surface

Daily level: After completing the upward trend from 52550 to 66498, MACD fell back to the 0 axis and formed a golden cross at present.

The information from the above indicators is that in the absence of a black swan, the market is likely to rise.

The next focus should be on the cottage market. If the big cake can rise sharply and boost sentiment, we will be ready to choose the right time to do the second wave of cottage market.

Ethereum and Solana Lead Altcoin Gains

Ethereum (ETH), the second-largest cryptocurrency by market cap, rose 2.72% and surpassed $2,500. Solana (SOL) also performed strongly, rising 3.66%, continuing to consolidate its position as the top contender in the altcoin market. On the other hand, XRP (XRP) only rose slightly by 0.12%, maintaining steady growth.

Altcoin market capitalization starts to rise

As the altcoin is still above the uptrend line, it is still following the uptrend. The RSI has increased from 45 to 53 in the past three days, which shows that the market conditions are favorable for the rise.

If TOTAL3 remains above the aforementioned major resistance zone, the altcoin may continue to rally, and a sustained rally could signal the start of the much-anticipated altcoin season

How to screen out dark horse coins with large gains in the current market?

Since it is a dark horse, it should have these characteristics:

1. The market value cannot be too large, it must be less than 100 million U.

2. At least it is listed on several second-tier exchanges for safety. Of course, there are also trading pairs listed on Binance, such as Myro Rats NEIRO.

3. The dealer must have been accumulating funds recently in preparation for pulling up the market later.

4. It is best to choose a new coin that was launched in 24 years or an airdropped coin such as PIZZA DOG.

5. Study the chip structure. The dealer has a high degree of control over the market, and retail investors have been almost washed out.

6. The dealer has money, strength and resources. It is best if he has successfully managed a project before. For example, the dealer of Dog is the Rune Stone project, the dealer of Pizza Sats is the Unisats project, and the dealer of Neiro Ordi is Binance.

Summary: Low market value + strong dealer with money + good background + good resources + high control + sufficient wash + new coin = dark horse potential coin