After going in circles for two months, Bitcoin's price is still at 100,000. May I ask if your position has increased or decreased?
Currently, Bitcoin has broken through 100,000, digesting the trapped positions formed between 97,000 and 100,000 during the drop on January 7. From the volume-price relationship, the increase in trading volume over the past three days is significantly greater than that of the rise between December 31 last year and January 6 this year, further confirming that the fifth wave of the fifth sub-wave has begun, rather than just a rebound.
However, it is currently in the early stages of the fifth sub-wave, and the increase in trading volume is not only significantly lower than the trading volume of last November's rise, but also closely resembles the trading volume at the beginning of the third sub-wave in mid-October last year, indicating that the buying power of Bitcoin is still not strong enough, and the likelihood of breaking through previous highs in the short term is low, with a potential correction around the time of Trump's inauguration.
CPI meets expectations, crypto market temporarily rebounds!
Yesterday, BTC was consolidating at a high level in the Asian session until the CPI data was released in the evening. Most of the CPI data met expectations, except for the core CPI monthly growth rate, which was below expectations. Therefore, the market reacted strongly.
For the market, this seems to be a 'spring' effect, where bulls have been suppressed for too long, and the accumulated sentiment is now being released. After the US market confirmed the rise in stocks, the crypto market continued to rise, reaching a high of 100,000 early this morning in the Asian trading session. The market then corrected, with Bitcoin retreating to the 99,500 range and Ethereum to the 3,350 range.
Most altcoins followed the correction, but the decline was relatively small. I believe bullish sentiment still exists, and this correction should be a pullback rather than a reversal; this round of rise has not yet reached its peak. There are still many strong potential targets, seizing a few opportunities for 5-20 times gains, so don’t be confused, block out the noise in the market, and maintain good patience; the market will ultimately provide you with a satisfactory answer!
Layout of 4 altcoins that may explode 100 times in the future!
1.ADA
As 2024 approaches its end, Cardano's founder Charles Hoskinson unveiled the future development roadmap for the protocol, showcasing a series of ambitious plans. Input Output Global (IOG) has focused this year on several core areas, including Bitcoin DeFi integration, advancing midnight networks, expanding partner chains, and comprehensive upgrades to decentralized applications (dApps).
These strategic moves signal that Cardano is entering a crucial period of transformation, aimed at further consolidating its leading position in the blockchain space.
A particularly noteworthy development is that Ripple's newly launched stablecoin RLUSD is expected to be integrated into the Cardano blockchain.
2.CRV
Curve Finance is a star project in the DeFi space focused on stablecoin trading, recently launching a new pool with price tracking features (USD0++/USD0). These pools utilize powerful algorithmic oracles to provide users with efficient liquidity and yield optimization tools.
Curve has also launched a liquidity pool for rsETH, offering users an enticing return of 5.57% daily and 5.05% weekly, along with additional rewards. These innovations have attracted more investors, and the performance of its native token CRV has also been remarkable: up 53% over the past year, trading 47.9% above the 200-day moving average.
Currently, Curve's market sentiment index is 70 (greed), and investors have high confidence in the long-term potential of its ecosystem.
3.AVAX
Avalanche has attracted the interest of developers with its ability to create custom blockchains. It offers fast transaction speeds and low costs, appealing to enterprises and dApp developers seeking scalable solutions. The platform supports various projects, including DeFi systems and enterprise blockchain applications.
Avalanche's price is $39.14, showing steady growth, reflecting trust in its technology and strategic direction. Its commitment to interoperability makes connections between different blockchain networks seamless, making it one of the most worthwhile altcoins to buy for those interested in innovation and practicality.
4.FET
The cryptocurrency FET shows a narrow price range between $1.15 and $1.55. It has fallen more than 18% in the past week, with a bearish short-term trend.
However, its relative strength index and stochastic indicators suggest potential upward momentum. If it breaks through the resistance level of $1.80, the target could be $2.20, indicating a possible growth of over 40%.
