Bitcoin did not receive any ETF funds over the weekend and continued to adjust, replacing the downward trend with sideways consolidation. This is seen as a stage of accumulating strength in the upward process. There was bullish speculation before the U.S. election, and the good news was realized after the election. It is predicted that there will be a wave of corrections.

The weekly line will be closed at 8 am tomorrow. According to the current pattern, it is very strong. Next week, there will be a chance to test whether the pressure of 71,000 can be broken.

History is always surprisingly similar. In 2023, the market also began to be quiet in the middle of the year, and did not take off until October last year. The same is true this year. What's interesting is that some funds appear to be smart and seem to have smelled the scent and quickly arranged in advance. Thanks to this, at the end of September, the market ushered in a round of big rise ahead of schedule. After a brief pullback in early October, the self-prophecy of "Rising October" was realized again. The market has climbed again from the short-term $52,000 to $68,000, which is only about $6,000 away from the historical high. Most of the altcoins that were once despised have also gained a lot from the bottom, even rising by two to three times.

After waiting for half a year, is the bull market finally here?

1: Bitcoin spot ETFs began to receive large inflows:

Bitcoin spot ETF represents the real amount of funds purchased over the counter. It is different from our personal transactions in that it represents some people who are willing to pay a fee to have others buy BTC on their behalf. From the historical chart, when the net inflow is large, the buying volume is large, and the price of Bitcoin often rises. When the net outflow is large, the price falls.

Since the spot ETF was officially launched, the total net inflow has reached 20.66 billion US dollars. It is worth noting that from October 1st to now, there have been 6 days of net outflow, but there have been 7 days of net inflow, and the amount of net inflow is not large. On October 14th, the net inflow exceeded 555 million US dollars, on October 16th and 17th, the net inflow exceeded 450 million US dollars, and on October 15th, the net inflow exceeded 370 million US dollars.

Although the net inflow and net outflow are roughly the same in terms of the number of days, the net outflow is small, while the net inflow is often several times the net outflow.

Even the unpopular Ethereum spot ETF has seen a rare single-day net inflow of $48.41 million since October, and the purchasing power of OTC funds is still quite strong.

2: Stablecoin market value is close to historical highs

The change in the total market value of stablecoins represents the amount of capital flowing in. Although the market has experienced ups and downs and capital has flowed in and out over the past few years, it is difficult to be pessimistic when we take a broader perspective.

The total market value of stablecoins hit an all-time high of $186.3 billion in mid-2022, and then continued to decline, but generally remained above $120 billion. Fast forward to October 2023, capital inflows continue to accelerate, and the total market value of stablecoins has now exceeded $172.3 billion, close to its all-time high.

On the macro level, the US Federal Reserve will cut interest rates in November and December, and some liquidity funds from around the world will continue to be injected into risky assets, and the liquidity of the crypto market will be more abundant. A series of on-chain indicators show that the market is recovering and funds are flowing in.

"The market is always born in despair, grows in half-belief and half-doubt, matures in anticipation, and shattered in hope."

Perhaps, after waiting for nearly half a year, a new round of bull market in the crypto market is ready to take off.

In terms of cottage:

Today, Ape can be said to be the most popular one, rising to $1.217 in a short period of time, an increase of more than 64%. Combining the news and technical aspects, this wave of rise is also the reason.

News: Fundamentals drive the rise

ApeCoin has released several major news in recent days:

1. ApeChain is launched: Yuga Labs launched ApeChain based on Ethereum Layer2, and simultaneously launched the official cross-chain bridge and Swap portal. This means that users can more conveniently connect ETH and APE across chains, which directly improves the practicality and liquidity of tokens.

2. Automatic Yield Mode: ApeChain has launched an automatic yield mechanism for coin holders. Users do not need to frequently pledge or claim rewards. This automated mechanism greatly enhances user stickiness.

3. Core user incentive plan launched: The official launched an incentive policy for core users, which further attracted a large amount of capital and new users to enter the market. These positive factors allowed the market to see the rapid expansion and future potential of the ApeCoin ecosystem, driving a large influx of funds.

The FOMO sentiment has intensified due to the push from the capital side. This wave of Ape's increase has triggered a lot of FOMO sentiment (fear of missing out), especially after the news of the cross-chain bridge and incentive plan came out. The market has stronger expectations for more favorable things in the future. In addition, judging from the flow of funds on the chain, a large amount of hot money has poured into the APE ecosystem, which has provided strong support for the currency price.

Can I chase her?

The APE project team has been dumping the market in 21-22-23, and only started to absorb funds in the second quarter of 24. This kind of project team is indeed very bad, but they are also very ruthless in pulling up the market. Today, the volume has increased, which can be regarded as the official launch.

Someone must have asked me if I can follow it. If you hold it until the end of the year for medium and long-term investment, you can buy it, but if it is short-term investment, you cannot participate.

In fact, the trend of APE is entirely due to news, but the confidence in the copycat sector is very good, because most people agree that there is no bull market in the copycat sector. The 60% increase of APE proves that the copycat sector has funds and popularity, which can also be regarded as a preparation for the future market. There will definitely be two or three more games of this mode in the future!

(I plan to ambush some low-market-cap coins with good news in the near future to help everyone recover. The current market situation is not stable. I will take 30% in the short term. The next password will be announced soon!!)