Last week's weekly report showed that Bitcoin was hovering around 69,000, but this week it has surpassed 80,000, refreshing its historical high and challenging the 100,000 mark.
Last week, Ethereum was hesitating at 2400 about whether it could hold, but this week it has already reached 3200, aiming for 3500.
The 'Election Week' anticipated significant fluctuations, but the market movement came faster and more violently than expected.
Looking purely at the weekly growth rate, BTC's weekly increase is 16.8%, and ETH's weekly increase is 29.5%, both representing the largest growth spaces in the past six months. From the overall market perspective, the weekend market blossomed comprehensively, unexpectedly showing major movements even on normally quiet weekends. This is a characteristic of a bull market, where the market experiences a widespread increase, and many independent trending coins are starting to emerge.
For example, TRB surged by 50% in one day, while DOGE, SHIB, and others have seen several consecutive days of increases, indicating a clear profit effect in the market.
If you have already profited from the first wave, congratulations. If you missed it, patiently wait for a pullback to position yourself in stagnant or yet-to-emerge independent trending hot coins, and wait for the next wave.
From a weekly perspective, ETH has demonstrated the strength of its trend with a large bullish candle breaking upwards. Once a trend forms, it is bound to continue, so it won't end in the short term. Be prepared to jump in at any moment. If it continues upwards, we can look to the previous highs near 3500 and 4000, and the rise cycle should continue until before the Spring Festival.
As for Bitcoin, there's no need to elaborate; after breaking through the historical high, there are no significant resistance levels above. How much it can rise depends entirely on market forces and collective consensus. From a weekly perspective, it has also broken out of a consolidation range of over six months, indicating a weekly upward trend that will have a certain degree of sustainability, so confidence in the future is necessary.
In the short term, the overall space has already seen significant gains, making it unwise to chase higher prices. Some coins have already reached 1-2 hour highs, so this week may see a need for consolidation and pullbacks. The market may rotate, and it is advisable to pay attention to altcoins, hot topics, and opportunities at lower cycle points after pullbacks.
