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Dear family, we will see Bitcoin leading the mainstream value and sector shorts perform in the next couple of days, while altcoins will wait to enter the market in a week or two. Many friends ask why Bitcoin reaches new highs while altcoins do not move and even decline. This is because, in the entire crypto market, most funds are held by 20% of the main players. Bitcoin and mainstream value coins are their important chips; when Bitcoin rallies, funds flow back, causing altcoins to bleed out and decline. Therefore, we can expect altcoins to rise only after Bitcoin's mainstream rally, in a cyclical pattern.
Market analysis:
Bitcoin starts the new week with an upward trend, directly breaking 106000 and setting a new historical high. This week is a macro week, with the Federal Reserve's interest rate decision coming up; currently, the futures market shows a 99% expectation for a 25 basis point rate cut. The closer we get to the rate cut date, the more volatile the Bitcoin downward trend will become, with continued upward pressure. If Bitcoin can stabilize at 104400, the upper resistance levels to watch are: 105800~106700~107800. If it can't hold above 104400, we can expect a small pullback, with support levels to watch below: 102800~101500~100500, these key points indicate a continued bullish outlook.