Market Analysis (Issue 10)
Today is December 25th. Bitcoin surged by 5,000 dollars last night, scaring altcoins into inaction for a moment, and it was only after Ethereum took over that things slowly started to move; otherwise, they would have just remained stagnant. Jason mentioned yesterday not to worry about Bitcoin; Christmas Eve will surely bring peace, but he didn't expect it to turn from weak to strong and surge like this, which exceeded my expectations. Bitcoin is currently hovering around 98,000, and judging by its momentum, it seems likely to test upwards in the short term to see if it can stabilize above 100,000 again.
Ethereum has also been steadily rising to 3,500 these past few days. In the short term, 3,100 is the bottom for this phase, and it may need to test that level again, but there’s no need to worry too much right now. Ethereum is still the same; it's solid but not strong, so be cautious of a short-term pullback.
Solana has returned to 200. Currently, it seems that the area around 200 is a short-term resistance level. After testing it, it has returned to a consolidation range and may need to grind around 175 for a bit.
The altcoin sector has been performing well these past few days. The market dynamics are as Jason mentioned: Grayscale-related assets like Zen and LPT, the usual institutional endorsements, UXLink being hyped in Korea, or Cow, which is related to Trump, have been performing relatively well. However, like Bitcoin's strong surge last night during the holiday with low liquidity, its trend continuity is yet to be verified. Be cautious of altcoin leaders potentially taking advantage of the situation to offload their holdings; avoid FOMO and chasing highs.
Today is Christmas, and Jason wishes everyone a Merry Christmas!!!
