Right prediction indicates that today's market for altcoins may experience a widespread increase, worth paying attention to! Bitcoin is expected to continue its sideways consolidation, maintaining a range between 95,000 to 98,000 USD.
As long as it does not drop below this range, the downside risk is limited, while there is an opportunity for altcoins to perform well.
Currently, Bitcoin shows no significant momentum to break through 100,000 USD in the short term, mainly constrained by the following factors:
1- Divergence between large holders and institutions: Large holders are cashing out at high levels, while institutions continue to accumulate.
2- Capital overflow effect: Some funds are flowing into altcoins, driving the altcoin market.
The political turmoil in the United States cannot change the upward trend of crypto, and platform tokens are surging!
President Simi Da announced a state of emergency last night, and undoubtedly, the ones buying are still crypto users. Last night, on Upbit, BTC briefly spiked to over 60,000 USD, which is simply unimaginable. Fortunately, it did not affect the overall market of other exchanges, but if it were contract users, last night's spike would have been completely devastating.
This round of the bull market is still led by the U.S. in a crypto-friendly manner. Unlike the FTX collapse, the crypto industry itself has not faced a crisis.
Upbit's spike last night caused crypto funds and users to flee the United States, which instead benefits other exchanges. This morning, BNB, OKB, and BGB have all seen different increases, with BNB skyrocketing over 18%.
