Round and round it goes, and it's almost the end of October, and $BTC is about to complete its first M candle in Q4!
If we look at the current month candle of $BTC , it is still a long green candle with a decent wick. In the long term, it will still trend upwards, but in the short term, there will be fluctuations.
- The pre-election period is always a time of significant news volatility.
- A few days before the month-end candle closes, the market will also fluctuate to liquidate long and short positions.
I am still placing a long bet on breaking out of the 70k zone of $BTC , and Dominance (Dom) will also rise accordingly. Altcoins will follow BTC by one cycle similar to October 23.
Dom and USDT.D are also at quite a high threshold; while there is a possibility of further increase, a decrease in the near future is certainly going to happen. When it occurs, it will be a phase of all explosions. However, this season will explode according to each trend and narrative, not everything will necessarily rise.
I still expect Dom to hover around ~60-63% before starting to decline.
Currently, you can choose to rotate around L1, AI, RWA, and a bit of Memecoin, and that will be fine. L2 will still be fine; however, the profit margins will be hard to compare with those niches.
