This is truly a historic bull market!
Bitcoin is hitting new highs every day and trending on social media!
Everyone's assets are hitting new lows daily, with no Bitcoin in hand, all are altcoins, and all altcoins are crashing, showing no signs of bottoming out, while Bitcoin keeps rising, inducing shorts and then rising again, daily and 4-hour candlesticks are not showing large bearish candles or long upper shadows. Recently, Bitcoin's upward continuation has seen shorts being very aggressive, the higher it goes, the more shorts there are, leading to a situation where the more they short, the more it rises. The funding rate has returned to 0.01, and Okex even had a negative funding rate at one point, yet there are still many shorts going against the trend. A significant trend can have gaps that may not be filled; there is a gap at 20,000 but it hasn't been filled yet. The ones buying altcoins are all Chinese, while the ones buying Bitcoin are institutions! Here’s a summary of the morning highlights:
1: BTC dominance reaches a new high at 61%, all altcoins are crashing
2: In the past, Bitcoin would soar, then Ethereum would soar, and then altcoins would follow. Be cautious with Ethereum and altcoins currently chasing shorts.
3: Ethereum has just formed a short-inducing pattern and is starting to lead altcoins in a rebound. For the past few days, low positions have been very pleasant. Continue to buy in the 3060-3030 range, with a stop loss at 3000.
4: Neiro, Pnut, and Act have touched bottom and are rebounding. You can gradually build a position in spot trading.
5: Multiple cryptocurrency spot ETF applications are underway, and the DOGE ETF may be submitted on December 31.
6: Nvidia expects fourth-quarter revenue to be $37.5 billion, slightly above market expectations, and good news is being realized, leading to a 5% drop at the opening.
7: folki launched on Coinbase today and surged.
8: Sun bought bananas at the auction site, and Ban crashed directly.
