It's either breaking new highs or on the way to breaking new highs!
Bitcoin just broke through 94K and rushed to 95,000, possibly influenced by the ETF options for Bitcoin starting trading on the 19th. However, the introduction of ETF options has its pros and cons; the advantage is that more institutions will come in and push Bitcoin higher. The downside is that options have delivery dates, usually on Thursdays, Fridays, or the last day of each quarter, especially on quarterly delivery days, trading volume will be larger, and Bitcoin's volatility will correspondingly increase.
Next, let's talk about my current operational methods for the leader and the second place.
Currently, for Bitcoin, I mainly focus on quick trades; it's not suitable to hold long positions before a pullback. So what should the long-suffering second-in-command do?
Many brothers feel that this round might completely decline, but temporary difficulties do not represent a permanent failure. As mentioned before, the first to enjoy the liquidity will definitely be Bitcoin; only after it rises will it be the turn of the second place and altcoins. Don’t rush; in the coming months, there is definitely room for the second place to rise, and I will decisively enter ETH below 3000.
Back to $BTC today's market analysis: From the K-line perspective, the 1-hour level is rising, the 4-hour level is rising, the 12-hour level is rising, and the daily level is still on the rise. The intraday resistance is 97,500, and the support is 91,700 USD.
Brother Sun bought bananas for 6.2 million USD, and before 9:16, BAN skyrocketed. Retail investors: Brother Sun is amazing!
After 9:16, BAN plummeted. Retail investors: Brother Sun is still the same Brother Sun!
If Bitcoin falls, I think it's normal for altcoins to fall too!
If Bitcoin rises and altcoins are stagnant, I can still forgive you for being a coward!
If Bitcoin rises and altcoins fall sharply, I really can't find a reason not to scold you!
In the past, the crypto market was always led by BTC, then Ethereum would follow, and later the hot sectors would rotate. However, this round of market seems to only be moving Bitcoin, which keeps breaking new highs, while Ethereum is stuck just above three thousand, and altcoins have hardly moved except for the MEME sector!
To be precise, Bitcoin has been a solo act this year, with more than half of altcoins not rising!
This round started with Bitcoin rising, then the SOL chain took off, followed by SOL's little brother BONK, WIF, and other memes soaring, and then DOGE (mainly driven by Musk!). This surge in Bitcoin is primarily due to the Bitcoin spot ETF.
The surge in the meme sector is mainly because VC coins have been very disappointing, plus MEME simplifies things by relying on price increases to attract people. However, after MEME rises, public chains and value coins will also see a wave of increases!
Those who should be liquidated will be, and those who are trapped will be trapped; this is my view on Bitcoin and altcoins!
1: Bitcoin is not just the Bitcoin of the crypto market; it is the whole ecological finance, with BlackRock, more enterprises, and governments involved, and it has a huge reputation. Large holders also hold a lot of Bitcoin, and the funds are concentrated on Bitcoin, which may be one reason for the one-sided market!
2: Altcoins, there is only the flow of funds in the crypto market; many altcoins cannot rise. I have waited for many years over the past four years; the altcoin season has not yet arrived. Everyone should keep an eye on Ethereum. If Ethereum cannot rise, altcoins will hardly rise, especially coins like VC. Don’t listen to some people’s extravagant claims; people are realistic. If it cannot rise, one must decisively handle it by mechanisms!
The current market is frustrating; the previous market was where the operators forced everyone into contracts and primary levels, while the current market is pushing you towards BTC!!! Don’t be nervous; as long as you have USDT in your pocket, there is still a chance!!!
