Today, old altcoins such as OKT and LTC had a small surge. The current logic of the old altcoins' rotation rebound is consistent with the logic of the traditional rotation market, mainly because the funds of Bitcoin are gradually overflowing. Conservative investors who are interested in high-priced Bitcoin assets are gradually turning their attention to tokens of the same type. It is expected that this trend will continue during the stagnation stage of Bitcoin's surge.

Unlike other old copycats, Litecoin officially announced that the current LTC positioning has been changed to memecoin. After the current market boom, LTC has risen by 10% in a short period of time. The former glory of Litecoin in the market is estimated to never return. The result of drifting with the tide is a sudden critical hit after a long period of silence, followed by insomnia.

Judging from the current market narrative, the innovations that old altcoins, including Ethereum, can have are actually decreasing on a large scale, to the point where there is almost no innovation. The beginning of this round of bull market started with meme, and this wave has been continuing. If the old altcoins don’t come up with anything to break through in this round of bull market, the space for this sector will be extremely compressed in the future.

On the macro level, Bitcoin spot ETF had a net inflow of 509 million US dollars yesterday, and Ethereum spot ETF had a net inflow of 147 million US dollars. The data of Bitcoin is as strong as ever. What needs to be paid attention to in the future is the data of Ethereum. If the net inflow of at least 100 million per day can be maintained for about half a month, according to the market value ratio of Ethereum and Bitcoin, there will be a chance for Ethereum to completely reverse in the short term and lead the rise of the altcoins.

Musk was officially appointed to lead the U.S. Department of Government Efficiency (D.O.G.E.), and the department's X account officially started to operate online today. Judging from the previous market sentiment and the current transfer of funds on the chain to doge, the long-term bullish sentiment on doge is getting stronger and stronger. It is completely conservative to predict that doge will perform amazingly in this round of bull market, at least breaking through one US dollar.

The number of initial jobless claims in the US for the week released in the evening was 217,000, lower than the previous value and expectations; the annual PPI rate of 2.4% in October was higher than the previous value and expectations. Both data are bearish for the risk market in the short term. The sharp drop in the number of people claiming unemployment benefits means that the US economic situation is not bad, and the rebound in the price index sets off yesterday's CPI data, indicating that inflation is recurring.

Economic issues are a big subject. Trump's policy is to maintain the stability of the US dollar market, reduce the size of US debt, and reduce the US dollar interest rate on a large scale. The Fed has to find the most appropriate economic policy among the contradictory data of inflation and interest rate cuts.

Pepe went online today and exploded again, with a market value of over 10 billion US dollars. If meme occupies more than 30% of the crypto market in the long run, the risk will be unimaginable once the bull market is over. In terms of operation, Pepe reduced his position by 30% during the day, not because he is no longer optimistic about his future, but purely because the income of a single token has far exceeded expectations.

Other positions remain unchanged. Only the reduction of Ethereum and pepe has released about 15% of the liquidity chips. The overall trend continues to tend to be that Bitcoin needs to be adjusted. If the technical side can land the market trend, I believe that the reduced liquidity chips will be pushed back at a very suitable position.

BTC: After 24 hours of observation, the hourly level of Bitcoin has returned to the state before yesterday's pull-up, and the four-hour level has formed a decent small cycle top pattern. The indicator has returned to the adjustment trend before yesterday's new high. The first support range of the bottom of the big cake is in the range of 88,000 points to 86,000 points. If it goes down, it will directly fill the gap near 78,000 points. The bulls of the daily and weekly lines are still strong, and the bullish attributes of the cycle market remain unchanged. Face up to the necessary adjustments to welcome the new highs in the future. In terms of operation, there is no demand for bottom-fishing in the big cake, and there is nothing to move.

ETH: Ethereum is weak and downward in linkage with Bitcoin. After Bitcoin hit a new high yesterday, Ethereum did not keep up. Wait for the adjustment to be completed. The technical support of the callback market is around 2800 points, and the amplitude is linked to Bitcoin.

Shanzhai: In the short term, Shanzhai shares continue to hit new lows. Understand the sluggish performance of the Shanzhai market, which has not started to rise. It is still difficult to pull up the market without funds and sentiment. For other Shanzhai, please communicate in the comment area.

The Fear and Greed Index was 88 during the day.

Finally, stay away from leverage and stock up on spot goods! ​​​#美国初请失业金人数创2024年新低 #超级MEME周期？ $BTC