Yesterday's cryptocurrency market felt like a small roller coaster ride. BTC caused a slight shake in the market, and those market makers tried to pull the prices back but failed.
Currently, Bitcoin's movement is still quite tangled. Overall, the market remains relatively weak, showing signs of a top formation. From a daily chart perspective, the 90k level can serve as a dividing line for the strength of Q1 market trends.
As we all know, the main driving force of this bull market is US capital.
Currently, the situation in the US is still in a holiday state (Christmas to New Year), which indicates that the current liquidity is very insufficient, especially on weekends.
From both the US stock market and the cryptocurrency market, we can see that trading volumes and volatility are relatively low. This kind of market situation is quite common at the end of the year, as there are a lot of settlements at this time, whether for holiday selling or company balancing. Therefore, this decline is reasonable and does not have a significant impact on the trend.
If you're interested, you can look back at previous year-end market trends, which are generally quite tangled. Except for 2020, which saw a monotonous upward trend, other years mostly had oscillating markets, and true breakouts only appeared in January of the following year. So there's no need to overly focus on the market in these days; just stay calm.
By December 27, 2024, ETH will still be stuck at the awkward 3300 points, while BTC continues to reach new highs. ETH has not even touched the historical high of 4800 set in early November 2021. In the past year, it has repeatedly attempted to break through 4000, but each time it has failed.
What I want to say is that ETH, as the king of altcoins and the king of public chains, has a deep-rooted ecosystem that has long been embedded in every corner of the crypto world.
Various whales and even Wall Street forces have a deep involvement in ETH, and many calculations were already predetermined in the last round; at that time, other public chains didn't even have the qualification to carry its shoes.
In other words, a large amount of capital and plans have already been pre-positioned, and the script for the rise has long been designed, just waiting for specific conditions to trigger it.
Currently, the ETH spot ETF policy does not allow staking, so users cannot earn staking rewards and must pay management fees, which hinders a significant amount of capital inflow, making ETFs less attractive.
With Trump's rise to power, it is highly likely that subsequent policies will allow ETFs to provide clients with staking rewards. Currently, the staking yield is approximately 4% annualized, and as interest rates are lowered, the attractiveness of ETH spot ETFs may even surpass that of BTC, allowing investors to benefit from the growth of the Ethereum ecosystem while earning interest.
Additionally, I've organized a set of data: When Ethereum rises, everything thrives!
From October 2023 to March 2024, there will be a major altcoin rally, during which the Ethereum Cancun upgrade will take place in March 2024.
From January 2023 to April 2023, there was a major altcoin rally, during which the Ethereum Shanghai upgrade occurred in April 2023.
From July 2022 to August 2022, there was a major altcoin rally, during which the Ethereum Paris upgrade took place in September 2022.
From July 2021 to November 2021, there was a major altcoin rally, during which the Ethereum Ice Age upgrade took place in December 2021.
From November 2020 to May 2021, there was a major altcoin rally, during which the Ethereum Berlin upgrade took place in April 2021.
Every time before an Ethereum upgrade, there is always speculation in advance! Every time good news lands, the market generally ends.
When is the next Ethereum upgrade? It's the Prague upgrade in March 2025!
In the past, good news for Ethereum was often speculated on 2 to 3 months in advance, so I don't need to say much about it.
This year's market is difficult to operate in and has a fast pace. We'll discuss the fast-paced nature later. Currently, altcoins have a high level of market control, and there's no better way to handle spot trading other than waiting.
