The sentiment index of the crypto market has soared to 90, reaching what's known as an "extreme greed" state. This high-risk emotional state indicates that the market is undergoing a rapid upward cycle, but also means that the risk of a bubble is gradually increasing. Bitcoin continues to set new historical highs, but the room for growth has narrowed. However, based on the current market sentiment and trends, breaking through the $100,000 barrier is not impossible. Especially in the current economic environment, many investors have shown a surge of interest in crypto assets, and the influx of funds into the Bitcoin market is also accelerating. Besides Bitcoin, some altcoins are performing quite prominently. Projects like Om have driven the entire RWA sector to skyrocket, and significant increases have also been seen in public chain layers like Hbar and Xtz. The price surges of these projects have attracted great interest from investors.
Recently, Bitcoin has been in a prolonged consolidation at high levels, with bearish signals appearing during the day, only to recover by the evening. Currently, the Bitcoin trend remains strong; don’t be greedy when shorting, as it is more prudent to go long during pullbacks. This wave of Bitcoin’s rise is expected to continue rebounding, and there is a great chance to reach above $100,000, even back to $120,000-$130,000. This cycle is likely to reach around New Year's Day, during which Bitcoin has been experiencing high-level fluctuations. It is recommended to trade on pullbacks, as the rise may not be as fierce as before, but will slowly push higher.
Ethereum, during this wave of Bitcoin’s rise, has broken out of the bottom consolidation range, reaching the upper resistance area of $3250-$3450 but has not stabilized there. It has been rebounding around the short-term support level of $3030 below. As long as it does not break below this level, combined with Bitcoin's strong bullish momentum, Ethereum will need to test the $3450 level. After testing, we will see if the breakout momentum can sustain the rise. For short-term trading, a low long strategy is also advisable, with an entry recommendation to use the $3000 support as a stop-loss for trading! #比特币ETF期权上线 $BTC