Next Wednesday's PCE data and the Federal Reserve's monetary policy minutes are also key points.
The macro background of the market from October 2024 to now: This round of interest rate cuts started in September 2024, coupled with the new US president Trump, who has a crypto-friendly attitude. The balance sheet reduction in Q1 next year may be nearing its end, along with spot ETFs. Although there hasn't been any liquidity injection yet, at least we have shifted from tightening to easing, entering a new four-year period that is very much worth looking forward to.
The first wave is from now until Q1 next year, then we will see if there will be a US economic recession or other black swans. If so, it will be another 312, and then we will have a situation similar to that of 2020-2021, which will be shared in detail later.
If there is no US economic recession and we achieve a soft landing, then there will be no 312, and the music will continue to play on.
Currently, the market has entered a phase of rotation among various altcoin sector leaders, which can be said to mark the beginning of the altcoin season.
