In the last couple of days, the market has been relatively weak, and Bitcoin's market share has dropped to 54.65%.
The poor performance of Bitcoin is mainly due to two reasons: one is that altcoins are continuously siphoning Bitcoin, and the other is that the US government transferred 19,800 Bitcoins, causing some panic.
Some investors feel that the current Bitcoin price is a bit high and are selling in batches.
However, I don't think we need to worry too much; Bitcoin reaching $100,000 is just the beginning, and this bull market will likely reach $200,000.
Because Bitcoin is now in short supply.
In November, the US spot Bitcoin ETF purchased 71,570 Bitcoins, while the Bitcoin mining output during the same period was only around 13,500 coins.
Yesterday, MicroStrategy spent another $1.5 billion to buy 15,400 Bitcoins at an average price of $95,976.
Bitcoin mining company MARA also spent about $618.3 million to buy 6,484 Bitcoins between October 1 and November 30.
This indicates that institutions are still continuously buying, and the market demand for Bitcoin is very high.
According to disclosed data, during this bull market, institutions including MicroStrategy, Tesla, and Coinbase have purchased at least 1.26 million to 1.36 million Bitcoins.
From the perspective of new funds entering the market, Tether has issued 1 billion USDT on Ethereum.
In addition, according to CME Federal Reserve observations, the probability of the Federal Reserve cutting rates by 25 basis points in December has risen to 75.1%.
Federal Reserve's Williams and Waller lean towards further rate cuts in December, and it currently seems that a rate cut in December is a high probability event.
Therefore, the market is not lacking funds right now; it just lacks a trigger point for emotions.
We just need to hold onto our Bitcoins well and not be thrown off the vehicle.
Let's take another look at the situation of altcoins.
Today, ondo surged over 40%, and our core group positioned themselves at $0.6-$0.7, and it has now doubled. Remember to take out the principal after it doubles and leave the profits to run.
These assets can be held until next year when Trump takes office; after recouping the principal, you can ignore fluctuations, which will improve your mindset and help you hold on.
In the MEME coin market, moodeng has risen over 80%, mainly because Coinbase has listed MOODENG.
It is also the smallest market cap meme coin listed by Coinbase in recent years; we can see how the effect of Coinbase listing plays out and how long the hype lasts.
If the consensus and hype are very high, it is likely that new MEME coin projects will be listed on Coinbase in the future.
Yesterday, we also positioned ourselves for some projects that might be listed on Coinbase and Robinhood.
Coinbase users are second only to Binance, and with Robinhood added, let's see if there will be any surprises in a few days.
Overall, the funds in this bull market mainly come from the United States.
Whether it is the spot ETF for Bitcoin and Ethereum or the institutional application for XRP ETF, it has led to a surge in XRP.
Coinbase's listing of moodeng also shows that the recent wealth effect in the market is strong, and the FOMO sentiment among American investors is rising.
According to the current trend, the altcoin season has begun to explode.
Altcoins have started to surge wildly; ADA has risen several times, and even garbage like EOS is going up, making it a money-grabbing market.
For ordinary retail investors, we just need to sit tight and hold on, avoid switching vehicles casually, prepare in advance, and hold coins for appreciation.