After Bitcoin rebounded above 100,000 dollars, the price violently fluctuated and fell back. Wall Street's Bitcoin spot ETF holdings surpassed Satoshi Nakamoto. The U.S. Treasury Department has rarely acknowledged that Bitcoin is mainly used for value storage, and Amazon shareholders proposed to include Bitcoin on the balance sheet to guard against inflation. This aligns with the trend of companies, including Microsoft and Tesla, exploring Bitcoin as an asset. Trump was interviewed by NBC on Sunday, and when asked if he would try to replace Powell, he stated that there are currently no plans for this.
Bitcoin announces a 'loud' return to 100,000.
During times like the weekend when the market is stagnant with no fluctuations, we must remain calm and composed, regardless of bullish or bearish positions, and prepare ourselves. The weekly close shows six consecutive green candles, a new week has already begun, and while looking forward, we must also be mindful of risks.
Today, the daily trend channel for Bitcoin turned red, marking the end of the 'easy' profit-making phase. From the candlestick chart, the 1-hour level shows a decline, the 4-hour level is weakly horizontal, the 12-hour level is horizontal, and the daily level is also horizontal, with EMA20 becoming the key dividing line. If the price holds above EMA20: wait for the trend channel to turn green and continue to go long. Or if the price falls below EMA20: the logic of one-sided rising ends.
Just a mention, BTC's futures premium for the end of September next year is 13.5%, with prices breaking through 110,000 dollars.
Looking back at last week, ETH ETF was relatively strong, almost reaching a historical high single-day net inflow of 111,567.04 coins on Thursday, with a total weekly net inflow of 838 million dollars, and a net increase of 222,946.99 coins. However, ETHE experienced five consecutive days of net outflow (reaching 27,180.27 coins), with the main buyers still being BlackRock and Fidelity, which increased their holdings by 152,711.02 coins and 79,052.72 coins of ETH, respectively.
In addition, the current ETH/BTC exchange rate has successfully rebounded by nearly 0.04.
In a bull market, there are indeed large rises and falls. You see the U.S. unemployment rate released last week, did the market have a continuous pullback? No, it just dropped a bit and then bounced back. This is the trend of policy, for example, the Federal Reserve Chairman said that BTC is a competitor to gold. This is the chairman of the central bank of the United States. This announcement stimulates the emotions of global crypto enthusiasts, so in the face of trends, no one can stop it, and macro data also takes a back seat.
You see PEPE reaching new highs again, BabyDoge has a daily increase of 90%. The only interesting thing over the weekend was Musk posting two pictures on social media on Saturday, one of a dog sweeping the city, and the other of an old horse carrying a little horse. After the two pictures were released, the entire MEME sector reacted, with BabyDoge's daily increase reaching 90%, Doge slightly rising, and PEPE even hitting a new historical high in the evening.
The entire market has seen a small climax, which is the power of Musk. Regarding Shiba Inu SHIB and Dogecoin, I had already shared strategies in the internal group a few days ago, and publicly reminded everyone to pay attention, sharing my views on them. In less than a week, there has been a significant movement of dozens of points, which is the benefit of buying in neglected areas.
As a result, I reviewed a round of altcoins, most of which are undergoing 1-hour adjustments. This afternoon or tomorrow, the short-term adjustments should be about done, and altcoins can make another move, but don't set your expectations too high, most are at high positions, and you still need to pay attention to risks! If you're not a short-term trader, you can skip this buying point, as the profit potential won't be very large, only about 20%.
Currently, everything is at a high position, so risks must be noted. Everyone must manage their positions well; there are two major drawbacks to shorting in a bull market: either getting stuck for a long time or missing out on large-scale opportunities. Moreover, does the possibility of a big pullback mean we shouldn’t trade every day? Is holding cash every day the safest? There’s always a risk of a plane crash when flying, does that mean we should avoid flying? It’s not yet time for that, so don’t worry too early or panic. Earn the money at hand first before being anxious or cautious, then it won’t matter.
