Market conditions change rapidly, trading is all about the present moment, sing whatever song fits the mountain you're on. Bitcoin has once again broken through new highs, and from the stablecoin chart, we can see that its market capitalization is continuously appreciating, preparing for 190 billion dollars. Bitcoin spot ETFs are still in a state of inflow, and Bitcoin wallet balances continue to decrease, currently down to 2.25 million Bitcoins, still constantly buying. From the liquidation chart, there was a liquidation of 105,000 dollars within the day, with over 800 million dollars involved. The resistance point above remains at 108,000 dollars. Within the next seven days, there is still a situation of bankruptcy likely to erupt at the 108,000 dollar position.
Most cryptocurrencies have experienced a pullback today, with a small number showing an increase. BGB was sold off at 2.8, and it has already surpassed 3, right? It's very crazy, it almost doubled after being sold off. When you see it not going up, it tends to rise even more. Some money is yours, while some you can't hold onto no matter what.
The current price of Bitcoin is over 106,000 dollars. This position has actually entered a certain stage. There was a wave of highs that hasn’t completed yet. Once this wave of highs finishes, the Bitcoin market will come to an end. Is it a 50% rise or 100%, right? So, within that range, when there is a period of inactivity, how do we operate? Currently, Bitcoin is sucking blood, and we can also see that the entire market is showing signs of excessive blood-sucking. Today, there was an issuance of USDT, with one billion dollars added, and USDC increased by fifty million dollars. Seeing this situation, we can imagine that its price still needs to rise. The recent pressure level is at 127,000 dollars, so if it reaches this position, there will definitely be an adjustment. On the morning of the 19th at 3 AM, an interest rate cut will be announced, which may be the last wave of market activity before Christmas. After this wave finishes, there may be a pullback. I remember Bitcoin has always pulled back during Christmas every year. Will this time be any different? If it rises to 110-120 thousand dollars, a 30% pullback may occur. If a 30% pullback happens, then at the level of 80,000 to 88,000 dollars, it might signal a rebound, a very good entry point. After the rebound, altcoins and mainstream coins will experience a second wave of market activity, where the current market capitalization can double or triple within a month. When we get infinitely close to the peak, we should just sell off without lingering on the remaining market. That's all for today.