1.7 Precise Market Analysis! Will Bitcoin fall again after breaking 100,000?
Last week we predicted that BTC would break 100,000 this week, and we were correct! Yesterday, BTC surged, breaking through $102,000,
Let's start with on-chain data for analysis:
(1) Over 5,000 BTC flowed out of Binance
(2) A large amount of stablecoins flowed into exchanges
From this, we can infer that whales are still bottom-fishing.
MicroStrategy announced yesterday that it purchased 1,070 bitcoins in the last two days of 2024.
It spent about $101 million in cash to buy 1,070 bitcoins, with an average price of about $94,004 per bitcoin.
When it dropped to $94,000, many thought a waterfall decline was imminent,
claiming it would fall to the 80,000 range, even shorting, but at that time, whales began to bottom-fish, and this position was also the previously suggested bottom price.
In the next couple of days, BTC should start to oscillate with slight pullbacks,
consolidating for a few days before launching an attack; altcoins are likely to suffer as they are completely drained by Bitcoin!
Key Points:
We need to pay attention to this Friday's unemployment rate and non-farm payroll data.
If unemployment is high and job opportunities are scarce, it would be beneficial for the Federal Reserve to cut interest rates.
BTC and the crypto market will continue to rise, ushering in the next wave of altcoin seasons; otherwise, a BTC surge combined with the chilling effect on altcoins will lead to a certain pullback in altcoins!!
Friendly Reminder! For those with significant profits, consider reducing positions on highs and keeping some space for defensive counterattacks!
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