After Powell's speech triggered a sharp decline, Eastern countries have awakened. There are no expectations of interest rate hikes in the market, and the rebound is tepid, indicating that Asian funds can no longer reverse the trend. This is the result of multiple 'wolf coming' warnings being consumed.
The height of this year may have already been reached. As for where it will retrace to and when it will rise again next year, we can slowly study it in January. The next relatively ideal high point is around 108,000. Additionally, we need to manage our positions well for Christmas. Currently, as long as the market does not crash or plummet, short-term corrections are beneficial for the long-term bull market development, as some profit-taking investors will choose to realize their profits.
The January trend for Bitcoin looks promising.
Today, I believe everyone has learned a lot about interest rate cuts and Old Powell's speech, so I won't elaborate further. Instead, let's talk about the subsequent market trends.
Currently, there is no need to be overly pessimistic. In January, Trump will take office, and this time the understanding of the king will be different from before. The Senate belongs to him, making it easier to push some matters forward. Today, Old Powell mentioned that the Fed is not qualified to purchase Bitcoin and does not wish to seek legislative changes to promote this matter. However, if Trump insists on advancing strategic reserves, it is not impossible for the U.S. to establish Bitcoin reserves. Therefore, the bearish sentiment we see today may actually be a future bullish signal.
Moreover, in January, there will be FTX compensation, with $16 billion or the equivalent in fiat currency to be compensated, which will somewhat flow back into the crypto circle. Coupled with the resumption of U.S. ETFs, it is clear that the market in January is still worth looking forward to. Therefore, this pit is likely to be dug at the end of December or the beginning of January, which is a point of concern for the funds that are looking to escape the peak this time.
But it is important to note that while January next year is worth looking forward to, we must not let our guard down. The market cycle is highly volatile, and investors need to pay attention to risk control.
Corrections and opportunities! Prepare for the following three altcoins to explode 100 times in the bull market!
1. ADA
Whale activity on Cardano has significantly increased, indicating a revival of investor confidence. Recent data shows that large holders have accumulated 80 million ADA tokens worth approximately $85.6 million in the past 48 hours. This surge in transactions highlights strong interest from major investors, suggesting that people are optimistic about ADA's long-term performance.
The Cardano network emphasizes its commitment to peer-reviewed research to ensure that technological development is robust and thoroughly tested. As the ecosystem continues to progress, the increase in whale numbers reflects expectations for further price increases.
Predicting that the value of ADA may successively climb to $1.46, $1.76, and even possibly reach $2.04. Currently, the trading price of ADA is $0.97, up 2.12% over the past seven days and up 38.41% over the past month. This continuous upward trend has attracted the attention of investors and strengthened market confidence in the Cardano network.
The increase in whale activity highlights the growing interest of institutional investors and strengthens speculation about the price trend of ADA. With the further development of the ecosystem and increased investor participation, Cardano remains a key cryptocurrency that requires close attention.
2. JUP
The current price of Jupiter (JUP) is $0.923. The trading price of Jupiter is far above its 200-day simple moving average (SMA) of $0.003332, exceeding that level by 30,294.77%. Despite its strong technical position, the current price sentiment is bearish, while the Fear and Greed Index shows 81, indicating extreme greed in the market. Jupiter also exhibits high liquidity, reflecting its stability based on market capitalization and investor confidence.
Although the short-term sentiment for Jupiter is clearly bearish, its long-term outlook remains optimistic, with significant potential for price growth and investment returns. Investors may find opportunities in the upward momentum over the next year.
3. AAVE
The Aave DAO has approved a joint incentive campaign to promote the adoption of PYUSD on Aave and increase the liquidity of PYUSD/GHO. This will be achieved through a newly created Balancer pool on Ethereum. The plan aims to increase the amount of PYUSD deposited into the Aave protocol, with a target of achieving a total deposit of 75 million units.
Additionally, Aave's total locked value (TVL) is $22.29 billion, with a market capitalization to TVL ratio of 0.2501. From a technical perspective, AAVE's trading price is far above its 200-day simple moving average (SMA), currently at $160.37, with an increase of 131.61%.
The 14-day Relative Strength Index (RSI) is 65.44, indicating a neutral outlook, with potential horizontal fluctuations. Additionally, Aave has experienced 19 up days in the past 30 days, accounting for 63% of that period. Relative to its market capitalization, it continues to exhibit high liquidity.
Market sentiment remains optimistic, and Aave's price forecast outlook is bullish. Meanwhile, the Fear and Greed Index shows 87, reflecting extreme greed among market participants.
