The BTC pullback is here!
Bitcoin has experienced a wave of adjustments, similar to what was discussed yesterday, with a low around 93,000. This has caused many brothers to start worrying about a potential crash and the end of the bull market. A small-level pullback is very necessary, and there is nothing to be afraid of.
I think this is a healthy pullback.
Due to the strong demand from short-term investors, these selling pressures were quickly absorbed beforehand. The selling behavior of long-term holders is a common phenomenon in a bull market, where buying power is sufficient to absorb these selling pressures. Currently, the profit rate of long-term holders has surpassed 350%, and they are gradually transferring the accumulated Bitcoin to short-term investors, which leads to a redistribution of market funds and assets, providing the necessary momentum for further increases.
The altcoin season cycle is about to arrive, with an impending explosion of 20-100x token listings:
STX
Stacks (STX) is a cryptocurrency tied to the Bitcoin network, recently showing remarkable growth. Its price has increased by 8% in the past 24 hours, reaching $2.22. With a market capitalization of over $3 billion, STX has entered the top 45 cryptocurrencies by market cap. Meanwhile, its trading volume surged by 132.73% in the past 24 hours, currently reaching $780.58 million.
STX and Bitcoin (BTC) show a strong correlation, with a coefficient of 0.86. This makes Stacks a high-beta asset within the Bitcoin ecosystem, providing leveraged exposure for those looking to gain more from Bitcoin's trends.
Optimistic about STX's potential. The chart shows a consolidation pattern, indicating that buyers are in an accumulation phase, preparing for a breakout. The accumulation range of $2.00 to $2.05 may become a launch point for further increases.
ADA
Cardano is a blockchain platform that supports smart contracts and decentralized applications. Its cryptocurrency ADA allows users to store value, make payments, and participate in the network through staking. Cardano uses a proof-of-stake mechanism called Ouroboros, which is more energy-efficient compared to traditional proof-of-work systems.
The platform is divided into two layers: one for transactions and one for smart contracts. This design enhances its scalability, potentially handling up to 1,000,000 transactions per second.
Cardano's native token was launched in March 2021, allowing for secure and low-cost interactions with smart contracts. Due to its sustainable approach and scalability features, this technology shows potential in the current market.
XRP
XRP is a cryptocurrency that supports fast, low-cost, and borderless transactions through the XRP ledger. It operates on a decentralized system without a central authority, making transactions secure and irreversible. XRP was created by Jed McCaleb, Arthur Britto, and David Schwartz, with 100 billion tokens issued at launch, of which 80 billion were allocated to Ripple for ecosystem development. Ripple was originally known as OpenCoin Inc., using XRP to enhance network liquidity and has hosted 55 billion XRP to control supply release. XRP is designed to facilitate seamless payment transfers between various currencies, making it a potential tool for global financial transactions. Its technology offers advantages of fast settlement and low fees in the digital finance space.
TON
After a prolonged bearish phase, Toncoin (TON) is struggling to break out of the long-term consolidation period. After trading in a narrow price range of $4.55 to $5.40 for over 150 days, TON broke through the monthly high of $5.54 on November 10, 2024.
Since then, TON has been striving to break through the current key resistance levels of $5.76 and $5.99. Despite TON's current bullish momentum, it has failed to maintain above the support level of $5.50.
However, recent upgrades to the TON network, such as the v2024.10 and FunC 0.4.5 updates, have improved synchronization speed and reduced network traffic, encouraging investment.
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