This week's market is good, I believe everyone has made a lot. Especially in the last two days, Bitcoin has been fluctuating horizontally, and altcoins have been taking turns to recover. Leading public chain projects like DOT, ATOM, LINK, AVAX, DGLD, and LDO have performed well, although their gains are not as high as coins like ADA, XRP, SKM, and MAMN, they have also recovered a lot. On Sunday, I suggest everyone relax a bit and take a moment to reflect on this week's market dynamics. First, there was the independent market brought by Bitcoin's sucking effect, followed by horizontal fluctuations washing out positions, and then ETH taking over. Although ETH did not break through the expected range of 3450 to 3750, the recovery of altcoins overall is satisfactory.
Looking ahead to next week, Bitcoin is expected to choose a direction between Wednesday and Friday. I tend to lean towards continuing to rise and breaking through the 100,000 mark. The current fluctuation range is between 97,000 and 98,500, with 94,000 still having trapped short positions. Recently, the market has fluctuated about 2,000 dollars, and if it breaks through 100,000, it may surge to around 108,000. In addition, USDT continues to issue more, and off-market funds are continuously flowing into the market, and the overall trend remains upward.
The strategy is simple and clear: buy a little on small dips, buy a lot on big dips, and go all in during a crash, just do it!
This week, the old coins in the altcoin market have exploded in popularity, while some new coins (like ACT, PNUT) have shown a clear downtrend, reminding me of the 'golden pit' of DeFi in 2020. At that time, DeFi projects like UNI were once criticized, but the first wave of the bull market was ignited from the DeFi sector.
Nowadays, although some coins are performing poorly, as long as the market focus is on, large funds in the secondary market may still lift benchmark projects, driving the overall market to warm up. Just like when DeFi was in decline, new projects continuously emerged on-chain. The current situation is similar: even if the new Meme coins on the exchange are down, the on-chain activity remains strong. In the future, the market may prioritize certain sectors to lead the trend, and after the first wave of market starts, other sectors like NFTs and the Metaverse will follow up.
Some fans asked Xiao Miao how to operate in the current market situation? Is it bullish or bearish!
If we must find reasons for the bears, the recent rise is mostly a typical sector rotation and capital overflow, rather than an improvement in fundamentals. This situation may sometimes indicate that a phase of the market is nearing its end. However, generally speaking, it's normal for a long rise to have a correction, and there are currently no obvious signals of a correction. I expect it to be just a brief adjustment, and after the washout, it will continue to rise, just like the trend of the on-chain Meme sector. Sectors that have risen early will consolidate early, and after this wave of altcoin market ends, funds will still return to the SOL and Meme sectors.
For friends who are still confused, Xiao Miao here recommends several major directions for reference~ Passion!
1. The gaming sector has welcomed a buying point, with leading coins taking off strongly. Recently, the gaming sector has performed well, with leading coin AXS leading the rise, followed closely by GALA and YGG, with a cumulative increase of over 60% in three days. The sector's heat is rising, and there are still potential coins worth paying attention to! In addition, the internal group password benefits shared last Friday performed excellently, with an increase of over 15%, outperforming most coins!
Chain games are expected to become the mainstream of entertainment in the future! The ecological expansion of RONIN, the technical advantages of IMX, and the unlimited potential of SAGA, seizing opportunities during corrections can lead to a promising future! 2. L1 track: SUI, FTM, SEI, NEAR classic veterans, strength online! These L1 projects are like fine wine; their technology is stable, and the community is strong. A correction is a good time to get on board, don’t hesitate, just do it!
3. AI track: TAO, FET, ARKM
The AI track is the magic wand of the future! These star projects are indispensable in every wave of the market, especially FET, which is strong. The correction has come, and it's the best opportunity to invest in the future!
4. Future of Modularity: TIA, ALT, DYM
Modularity is a new chapter for smart contracts! These projects are redefining the ecosystem, and the correction is a great time to join this 'future puzzle'!
5. DeFi Innovation: AAVE, PENDLE
The DeFi field is never short of new gameplay! AAVE and PENDLE are both creative and powerful, and the correction is a key moment to become a 'DeFi expert'!
Attention! Next Wednesday is a 'golden' day!
Why? Because the October consumer and inflation data from the US is about to be released! This is simply a 'beacon' guiding the direction for a potential interest rate cut in December!
It is said that October's inflation should obediently meet expectations. So does the Federal Reserve's small goal of cutting rates by 25 basis points have a fifty-fifty chance? Let's wait and see how this rate cut drama unfolds!
Today's article ends here. Currently, we are in a bull market, and the winds are stirring. We share passwords every day. If you're unsure about what to do in a bull market, feel free to follow us for spot trading passwords and layout strategies, which can be shared free of charge.
