[Bitcoin fluctuates and adjusts, altcoins are ready to go? ]
Since mid-March, Bitcoin has experienced waves of adjustments and has made four lower highs. But don't worry, if it can successfully break through $65,000, it means that the downward trend is about to reverse, and Bitcoin is expected to hit the $70,000 mark again! We have previously predicted that Bitcoin is likely to hit a new high in the fourth quarter, and now it seems that this prediction is becoming more and more likely to come true.
From a technical perspective, Bitcoin is indeed a bit overbought in the short term after its rapid rise on September 9. However, unlike the previous adjustments, the current medium-term reversal indicators have been fully corrected, which means that the downward trend may be nearing its end. As these indicators gradually bottom out, the possibility of Bitcoin's breakthrough is also increasing.
If Bitcoin can really hit a new high, those high-beta altcoins that have been hit hard may usher in a sharp reversal. Ethereum's technical side also shows a similar trend, and the medium-term indicators have also been corrected. Although its fundamentals are still somewhat weak, Ethereum still has the potential for substantial growth.
After the Fed cut interest rates, the market's preference for decentralized finance (DeFi) and high-beta tokens has become increasingly apparent. Altcoins have also performed well, and with the support of Bitcoin, they have continued to rise. Now, Bitcoin has broken through $60,000 and is aiming for the $65,000 mark. Smart traders have begun to accumulate undervalued altcoins in preparation for the upcoming rebound.
As central banks increasingly support their domestic economies, traders' mentality has also undergone a significant shift. Instead of focusing only on Bitcoin and yield-generating tokens (RWA), they are beginning to prepare for a potential DeFi recovery. Let's look forward to the next market performance together!
