In terms of macro data, we need to pay attention to the ADP employment change at 21:15 this Wednesday evening, as well as the Federal Reserve's monetary policy meeting minutes at 3:00 AM on Thursday, and finally the non-farm payroll data at 21:30 on Friday evening.

The impact of last night's U.S. stock market will be more significant than usual, as the U.S. Congress confirmed last night that Trump won the election victory. Therefore, at the latest today, we will definitely receive the Congress's blessing for Trump's rise to power, and the cryptocurrency market will also enter a period of accelerated sentiment. After all, Trump said back in December that he hoped to reach 150,000 during his term. Even if we consider a discount, reaching 120,000 before January 20 shouldn't be an issue.

As for whether altcoins can hit new highs, insufficient liquidity is an excuse for the decline, but it is not the real reason for the drop. The true reason for the decline is the expectation that it will fall, while the reason for the rise is also the expectation that it will rise. In 2021, the market value of USDT was only half of what it is now, yet it was still able to support the altcoin bull market. This current round is not unexpected; as long as there is an 'expectation' in place, although altcoins may not rise 100 times, it is certainly possible to exceed the 2021 peak by 50%-100%.

At this moment, we are in the first rebound after about two weeks of consolidation. Some people see it as an opportunity to escape, while others see the beginning of the altcoin season. Currently, apart from the market data, it will largely depend on the FOMC meeting on January 28-29, as well as various macro data released during the remaining time in January.

These data will lead the market to form expectations for the first interest rate cuts in January/March/May. If the data is better (here 'better' means favorable to us), then the probability of a rate cut in March increases, and the expected number of cuts for the entire year becomes more frequent. (Currently, a rate cut in January is still seen as a low probability event, so the main competition is between March and May.) Additionally, there will be a dot plot in March — meaning that March will provide the expected number of rate cuts for the entire year. If the data in January is favorable and a very dovish statement is made in January, then the expectations for a rate cut in March will rise, and the bull market is likely to continue.

During the day, the major cryptocurrency is trading around 101,000-101,500, aiming for a target of around 102,500-103,500. Ethereum is trading around 3,650-3,670, targeting around 3,730-3,780.