Bitcoin did not break through the psychological barrier of $100,000 as the market hoped; it peaked at $99,588 before turning down. BTC dropped to around $90,866 before rebounding to above $92,000 at the time of writing. Bitcoin has retraced 8.85% from its high, which currently appears to be a normal correction.
Why hasn't BTC managed to break through the psychological barrier of $100,000? Where is the selling pressure coming from?
Long-term Bitcoin holders have sold 128,000 BTC, although Bitcoin spot ETFs absorbed 90% of the selling pressure during the same period. This has reached the highest level since April 2024, and profit-taking is gradually being realized.
In fact, the pullback of Bitcoin is not the key; the critical point is that Ethereum and altcoins did not fall together.
Bitcoin's market share seems to be showing signs of retreat at a high level, and it is very likely to gradually enter a downward trend. This may mean that new opportunities are coming for the altcoin market—this could be the starting point of the altcoin season. Currently, most altcoins are still at low levels, and funds may gradually flow in as sectors rotate. Therefore, the most important strategy at this stage is to maintain a stable mindset and not to frequently buy high and sell low due to market fluctuations, missing out on opportunities.
Currently, mainstream public chains, meme, and gamefi sectors have all been pulled up; the following sectors are worth paying attention to:
ETH Sector: ENS, PENDLE, UNI
RWA Sector: POLYX, RIO, TRU
Public chains: TIA, SUI, and SEI
Solana Ecosystem: JTO, BOME, BONK, RAY
AI Sector: RNDR, FET, LPT, ACT. The AI sector has not seen a significant launch yet; traditional mainstream projects are temporarily taking a breather.
Then the meme sector act pnut should have another wave; one bullish candlestick eliminates all negative sentiment... Don't say CZ has any influence on the meme sector; the doge owners are the most anxious...
$PRIME
PRIME stands on two major narratives, gaming + AI, and has Paradigm's endorsement.
The gaming ecosystem token behind the sci-fi card game Parallel has shown strong long-term performance.
AI Pathfinder Prime Chain has no better game at the intersection of AI x Crypto.
➜ $ACT
$act is a community formed around the concept of 'driving the future of AI'. It is not a tech coin, has no utility, and is not an AI agent. It is an AI meme coin.
What the $act community is doing is helping the development of AI memes with all possible opportunities. Currently, many AI agents are already working around act.
As the only AI meme traded on major exchanges, act = AI meme sector index.
➜ $TIA
As a leader in the modular new public chain, TIA has just broken through its historical high.
Amid the overall market correction, TIA managed to rise against the trend, fully demonstrating the strong power of its backers.
The weekly K-line pullback has ended, and the daily line level rebounded quickly after touching the 5-day moving average, which is a typical characteristic of a strong coin. TIA is expected to easily reach around $12 in the short term.
➜ $XRP
The rise of XRP following Gensler's resignation is not only driven by sentiment but also reflects multiple market expectations. Firstly, XRP may be relisted on more exchanges, increasing its market liquidity, such as Robinhood relisting Ripple (XRP) trading on November 13. Secondly, Ripple's business operations will focus more on core technology rather than legal battles.
Currently, multiple ETF issuers such as 21Shares and Bitwise have submitted applications to the SEC to launch XRP spot ETFs, further highlighting the market's positive expectations for XRP's future development.
➜ $ENS
Leading coin in the domain name ecosystem: ENS, a token favored by Vitalik, closely related to ETH. After ETH started to rebound, ENS began to surge, and trading volume skyrocketed.
ENS is a decentralized domain name system built on the Ethereum blockchain.
It aims to address some issues of traditional domain name systems, allowing domain owners to have complete control and privacy protection.
