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Bearish
The cryptocurrency market is about to collapse, today may be the calm before the storm!👿
Bitcoin and the entire altcoin market may enter a correction period around December 10th this month, with corrections and fluctuations likely lasting at least until around January 10th. During this time, everyone can gradually buy in, but absolutely do not go all in, and especially do not use high leverage contracts.
Reasons are as follows:
1. After the previous few days of explosive growth in altcoins, there are numerous coins that have increased dozens of times; XRP, the doomsday vehicle, has already played its part. Market sentiment is in a state of extreme greed, reminiscent of March last year and May 2021.
2. Many people's expectations are at 100,000. Today it has already broken 100,000, and currently, those buying Bitcoin above 100,000 are almost all high-leverage bullish speculators, betting that Bitcoin can rise further. Almost no one is willing to hold Bitcoin at 100,000 each. The most important thing is that 100,000 is already the limit for shorts; there are not many bears willing to short anymore, and without bears providing fuel, it will be difficult for Bitcoin to continue to break through.
3. Currently, not only has Bitcoin hit a new high, but the US stock market has also reached a new high. It seems that the interest rate cuts have just begun and can still rise, but inflation remains high. The Federal Reserve will not suddenly implement many cuts and may slow down rate cuts, which will affect bullish sentiment and lead to a short-term correction.
Bitcoin and the entire altcoin market may enter a correction period around December 10th this month, with corrections and fluctuations likely lasting at least until around January 10th. During this time, everyone can gradually buy in, but absolutely do not go all in, and especially do not use high leverage contracts.
Reasons are as follows:
1. After the previous few days of explosive growth in altcoins, there are numerous coins that have increased dozens of times; XRP, the doomsday vehicle, has already played its part. Market sentiment is in a state of extreme greed, reminiscent of March last year and May 2021.
2. Many people's expectations are at 100,000. Today it has already broken 100,000, and currently, those buying Bitcoin above 100,000 are almost all high-leverage bullish speculators, betting that Bitcoin can rise further. Almost no one is willing to hold Bitcoin at 100,000 each. The most important thing is that 100,000 is already the limit for shorts; there are not many bears willing to short anymore, and without bears providing fuel, it will be difficult for Bitcoin to continue to break through.
3. Currently, not only has Bitcoin hit a new high, but the US stock market has also reached a new high. It seems that the interest rate cuts have just begun and can still rise, but inflation remains high. The Federal Reserve will not suddenly implement many cuts and may slow down rate cuts, which will affect bullish sentiment and lead to a short-term correction.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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