Currently, Bitcoin has reached the position of 96k, breaking through the trendline from the high point of 99.6k down to the recent oscillation.
Upward, breaking through the resistance of the recent trendline. If it breaks the previous high, there is a greater possibility of new highs.
Downward, one is the support mentioned earlier at 90-92k, and the other is the support at 85-87k. Overall, it is still in a state of fluctuation for now, hoping for a longer period of oscillation so that altcoins can have more time for a rebound.
Looking at Ethereum, it has shown good momentum in the past two days, remaining overall stronger than Bitcoin, with a positive trend. Other altcoins, overall, the Ethereum-related ones have seen more rebound recently, while others have performed generally.
From the overall sector rotation perspective, it has now reached:
Bitcoin → meme, AI → old layer 1 → Ethereum and its ecosystem →?
Although Bitcoin has been adjusting frequently recently, the altcoin market hasn't seen significant declines:
This wave of market activity is mainly concentrated on older coins on CEX, with almost all old coins seeing an increase of over 30% over the weekend. This wave resembles the one that occurred after the DeFi craze in 2020, when large funds collectively returned to CEX. Few managed to capture the CEX market at that time; many made money in DeFi but missed the CEX opportunity, and the situation is similar this time.
Ethereum is now also showing signs of revival. Observing the market reveals that during the recent Bitcoin pullback, altcoins have not followed it down much. The king of altcoins, ETH, has even outperformed the overall market index CoinDesk 20, which increased by 0.5% during the same period.
The market sector rotation is underway, with investors starting to shift funds towards smaller, higher-risk cryptocurrencies, leading to outstanding performances from altcoins like ADA and DOGE, while Bitcoin's surging trend since Trump's election has stagnated.
However, it should be noted that the altcoin sector is currently just rebounding. After having good space, it is advisable to take profits unless Ethereum sees significant application innovations, a trend-driven bull market emerges, or new innovative sectors in altcoins arise, attracting market speculation!
Every pullback is actually the best opportunity to enter, but priority should be given to mainstream options in leading, public chains, DeFi, L2, AI, etc. These are usually the market's first choices!
The upcoming time is the most important turning point for retail investors:
1. BTC.D is expected to peak between November and December, marking the end of Bitcoin's strong period over the past three years, while the golden age of altcoins is about to begin, bringing unprecedented wealth opportunities.
2. Historical data shows that in the eighth month after the last two halving cycles, altcoins broke through historical highs, unstoppable. Following this pattern, this phenomenon is expected to reappear in January 2025 during this cycle.
3. In the coming time, Bitcoin's increase is expected to reach a maximum range of twice, while ETH may rise 2 to 4 times, fluctuating between 9000 and 10000. Altcoins are generally expected to experience astonishing growth of 5 to 10 times. Let us embrace this feast of the bubble era together, prepare ourselves to face challenges and opportunities.
The opportunity that changes fate once every four years is about to arrive; it depends on whether you can seize it.
