After Bitcoin rebounded above 100,000 dollars, the price violently fluctuated and fell back. Wall Street’s Bitcoin spot ETF holdings have surpassed Satoshi Nakamoto. The U.S. Treasury has rarely acknowledged that Bitcoin is mainly used for value storage, and Amazon shareholders proposed incorporating Bitcoin into the balance sheet to guard against inflation. This aligns with the trend of companies including Microsoft and Tesla exploring Bitcoin as an asset. Trump was interviewed by NBC on Sunday, and when asked if he would try to replace Powell, he stated that there are currently no such plans.
Bitcoin sends a 'huge sound' back to 100,000.
During times like the weekend when the market is stagnant, we need to remain calm and collected. Regardless of long or short positions, ensure proper defense and conserve energy. The weekly candle closes with six consecutive bullish candles; a new week has already begun, and while looking forward, we must also pay attention to risks.
Today, the daily trend channel for Bitcoin turned red, signaling the end of the 'easy' profit-making market. From the candlestick perspective, the 1-hour level is in a downtrend, the 4-hour level is sideways and weak, the 12-hour level is sideways, and the daily level is sideways, with EMA20 becoming a key dividing line. If the price holds above EMA20: wait for the trend channel to turn green and continue to go long. Or if the price breaks below EMA20: the logic of unilateral rise ends.
Just a mention: BTC futures for the end of September next year have a premium of 13.5%, with prices breaking through 110,000 dollars.
Looking back at last week, ETH ETF was relatively strong, with nearly reaching a historical highest single-day net inflow of 111,567.04 coins on Thursday, and a total weekly net inflow of 838 million dollars, with a net increase of 222,946.99 coins. However, ETHE saw a continuous net outflow for five days (reaching 27,180.27 coins), with the main accumulators still being BlackRock and Fidelity, who increased their holdings by 152,711.02 coins and 79,052.72 coins of ETH respectively.
Additionally, the current ETH/BTC exchange rate has also successfully rebounded nearly 0.04.
In a bull market, there are always significant rises and falls. Last week, when the U.S. unemployment rate was announced, the market didn’t have continuous pullbacks, right? It only dipped briefly before being pulled back up. This reflects the trend of policies; for instance, the Federal Reserve Chair said that BTC is a competitor to gold. This is the chairperson of the beautiful country's central bank! This call stimulates the emotions of global crypto enthusiasts, so in the face of trends, no one can stop it, and macro data has to take a back seat.
You see PEPE reaching new highs, BabyDoge daily increase of 90%. The only interesting thing over the weekend was probably Elon Musk posting two pictures on social media on Saturday, one showing dogs sweeping the city and the other showing old Ma carrying a pony. After the release of these two pictures, the entire MEME sector reacted, with BabyDoge's daily increase reaching 90%, Doge slightly rising, and PEPE even setting a historical high in the evening.
The entire market has experienced a mini-boom, which is the power of Musk. Regarding Shiba Inu SHIB and Dogecoin, I shared strategies in the internal group a few days ago and publicly reminded everyone to pay attention while sharing my views. In less than a week, there has been an overall increase of several dozen points; this is what it means to buy at a place where no one cares.
As a result, I reviewed a circle of altcoins; most are undergoing adjustments on the 1-hour timeframe. This afternoon or tomorrow, the short-term adjustment should be about done, and altcoins can make another wave, but don’t set your expectations too high, as most are at high levels; one must still pay attention to risks! If you are not a short-term trader, you can skip these buying points, as the profit potential won't be very large, only around 20%.
Currently, everything is at a high position, and risks must be noted. Everyone must manage their positions well; shorting in a bull market has two major downsides: either getting stuck for a long time or missing out on a huge surge. Moreover, is it possible to avoid trading daily just because a major correction might happen? Is it safest to be in cash every day? There is still a risk of plane crashes when flying; does that mean we won’t choose to fly? It's not yet that time, so don’t worry too early and be overly anxious. Once you have earned the money in front of you, then you can be anxious and cautious; it won’t matter then.
