Analysis of the upcoming trend in the cryptocurrency market:
Market Adjustment: The current pullback can be seen as a short-term adjustment in the bull market, which has lasted about 10 days and is nearing its end.
The season for altcoins is about to arrive, but a collective breakout has not yet occurred.
The market is still waiting for Bitcoin and Ethereum to take the lead. Although some individual coins have already started, most altcoins are still consolidating and in a washout phase. The overall market is waiting for a rebound signal from ETH.
Technical Analysis: The technical indicators for BTC (such as MACD, channels, KDJ, etc.) have already declined to low levels, and there has not been an increase in volume during the downtrend. If the current support level can be maintained, the chances of a rebound will increase.
Capital Situation: A large amount of capital has appeared in the bottom area, providing good support for the subsequent rebound.
News: Trump is expected to take office at the end of January, which may bring policy adjustments and positive expectations for the cryptocurrency market.
At the same time, Ethereum's staking feature is expected to be launched after Trump takes office, which will greatly enhance Ethereum's attractiveness and is expected to attract a large amount of capital.
Staking applications are expected to surge in January. Additionally, before the Christmas holiday, approximately $131 million has flowed into the market, and institutional investors are also looking forward to the launch of Ethereum's staking feature.
