The quality of decision-making depends on the information you possess and your ability to process that information. - Ray Dalio, Founder of Bridgewater Associates - (Principles)
Bitcoin has once again set a new historical high (ATH) of $106,500 in such a short time, with professional financial institutions and investor sentiment towards Bitcoin remaining high.
The acceptance of Bitcoin by financial institutions and major corporations continues to rise, global regulatory policies are maturing, advancements in blockchain technology enhance Bitcoin's utility, and factors such as the halving event potentially leading to supply shortages drive Bitcoin to set new highs repeatedly. Additionally, strong stock market performance, particularly the excellent performance of the Nasdaq index, also supports Bitcoin's rise. Appreciable Chart
Ethereum has once again broken through the $4,000 mark while Bitcoin sets new highs. As the ETH/BTC ratio finds support at 0.033, this is the lowest level since April 2021. As the bull market progresses, we expect the ETH/BTC ratio to continue to rebound, as capital is likely to continue flowing in.
After reaching a new high, Solana's performance has declined, with the SOL/ETH ratio falling. Although SOL has increased sevenfold over the past year, the current price reflects a trend of profit-taking and intensified competition.
The good news is that Solana's daily active addresses and decentralized exchange (DEX) trading volume continue to lead, showing that its on-chain activity remains strong. The latest developer report indicates that Solana has surpassed Ethereum in 2024, becoming the preferred ecosystem for new developers.
Furthermore, the VIX (Volatility Index) has recently performed above expectations, with market sentiment influenced by seasonal factors and other macroeconomic narratives. The VIX is expected to gradually decline, and the market will likely remain bullish before the end of the year.
Additionally, the latest data from CME's FedWatch tool shows that the market expects a 95% probability of a 25 basis point interest rate cut in the US.
Note: All content represents the author's personal views and is not investment advice. It should not be interpreted in any way as tax, accounting, legal, business, financial, or regulatory advice. You should seek independent legal and financial advice, including advice regarding tax consequences, before making any investment decisions.
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