The big one is coming!!!
Why did Bitcoin surge???
When will the altcoin season arrive???
The price of Bitcoin (BTC) soared over 4% within 24 hours after dropping below $92,000, hitting a high of $97,360, before retreating to $95,740 during Thursday's Asian morning session. BTC is attempting to regain its upward momentum; will it break $100,000 before the end of November?
This rebound has driven altcoins, with Ethereum (ETH) leading the way, indicating that the rotation into crypto cash is favorable for altcoins, and Bitcoin's dominance is decreasing. Does this mean the altcoin season is coming!
Why did BTC rise? The reasons are as follows:
1. Expectations of personnel changes. After Gary Gensler stepped down as chairman of the U.S. Securities and Exchange Commission, Trump's transition team is considering appointing former commissioner Paul Atkins, who has a deep understanding of cryptocurrencies, to succeed him. The market reacted positively to this.
2. Spot BTC ETF cash flow turned positive. After two days of conservative outflows, there was a net cash inflow of $103 million on Wednesday, primarily driven by FBTC and BITB. Currently, ETFs hold BTC worth over $104 billion.
3. Institutional investor long squeeze. In the Bitcoin leveraged market liquidation, short sellers accounted for $56 million, increasing the possibility of a long squeeze, pushing up the BTC price. There is high demand from institutional investors; for instance, MicroStrategy has purchased over $10 billion in BTC in the past two weeks, prompting other companies to follow suit.
During a bull market, do not go against the trend, and do not chase high or sell low. If you haven't entered yet and are afraid of missing this bull market, it might be wise to wait for an opportunity to enter at a lower price!
In this bull market, the projects we led our fans into—ENA, OP, wif, pepe, bome, bonk, STX, floki, tia, wld, ethfi, sand, bnb, sol, saga, skl—are all profitable!
Next Monday, we will lead our fans to layout potentially explosive coins; doubling your investment is very simple.
The same news, the same layout, the same opportunity, fans come first.
