In the past 24 hours, 427,378 traders were liquidated, with a total liquidation amount of $1.39 billion. The bull market is not over yet, and it is still in an upward trend.
Late at night, the turning point in the cryptocurrency circle finally came!
The inflation data just released showed that both PCE and core PCE beat expectations, falling an additional 1%. This greatly eased the current rumors that the Fed will cut interest rates less next year, and now that Wall Street is back to work, a rebound is expected.
In addition, if you look at the on-chain data, you will find that the Trump family’s WLFI has increased its holdings by 759 ETH. Oh no, did Trump buy at the bottom?
I already made it clear yesterday: the market trend of Bitcoin affects the stock prices of MSTR and SMLR. I'm optimistic about Q1 next year, so let's be bold and buy in batches. Today, I'll talk about several notable crashes we've experienced: 2020.312, 2021.519, the Luna incident in 2022, the FTX incident, and it seems that 2023 doesn't have any significant crashes to remember, except for 2024.85.
Today is different from the previous ones. It’s merely a small interlude in the main bullish market trend. Unless the trend disappears in Q1 next year, the probability of economic issues or other black swan events is very low. The transition of power in the U.S., the new SEC chairman, etc., are all positive market sentiments. In other words, this is just a normal pullback in a bull market. Don't panic.
312 refers to the U.S. economic recession and the pandemic. 519 relates to policy issues from Dongda and I remember Musk's actions causing violent liquidation. We don’t need to mention the Luna incident and FTX incident; everyone understands. The 85 this year is due to expectations of trading recession and Japan's interest rate hikes, which may lead to fears of liquidity crises from arbitrage trading. Even if there’s an economic recession in the U.S., it’s still early, so stay steady!
Bitcoin:
After three consecutive days of pullback, many altcoins have dropped significantly, with only a few coins able to perform independently. Usual and Zen are the strongest, but Usual has risen too much, making it difficult to buy in now. Zen can be a focus, as Grayscale continues to accumulate, with a low market cap that allows for gradual buying on pullbacks.
A slight adjustment before this Christmas to cool things down and clean up the bullish market is healthy for subsequent rises. I continue to maintain a long-term bullish outlook, suggesting to keep a strategy of buying small on small dips and large on large dips!
PNUT:
Squirrel has dropped to the range we mentioned, 0.5-0.7, making it a good time for a low buy. The next low buy can be set below 0.5.
JTO:
JTO's decline exceeded expectations, having dropped below $3. So, we will follow the market trend and continue to buy low below $3. Don't be afraid; a steep drop means a strong rebound in the future!
RSR:
RSR has seen a strong second pullback, breaking through previous lows. This position is where we can start to buy low in batches, but it’s essential to do it gradually; we are still uncertain if the drop has stopped!
DOGE:
Doge has currently broken below the support of 0.33, making this the short to medium-term peak. The adjustment period may be prolonged, and this time, we can start buying back around 0.2. For those continuously bullish on Doge, don’t fear the drop; slowly buy low to reduce the average price.
SOL:
SOL provided another opportunity to buy low below 200 today. Below 200 is like a bargain price; buying in batches is the way to go. After this adjustment in SOL, there will be a trend of rising prices!
Lastly: In recent days, we’ve seen large dogs on-chain operating rapidly, frequently reaching tens of millions and even billions in market cap, with countless small dogs. The on-chain environment is filled with profit potential, so keep a close eye and participate in it!
Today, let's focus on Monky; there’s an 80% chance it will be listed on Binance!
Monky is collaborating with the mega giant DWF, having previously transferred 200 billion tokens to DWF's address. Monky's issuer is Floki, and 27% of MONKY will be airdropped to FLOKI holders and stakers.
Behind Floki is DWF, which previously announced multiple purchases of $12,000,000 worth of FLOKI tokens to support the Floki ecosystem, leading to Floki's surge. And we don’t need to elaborate on the relationship between DWF and Binance.
