This truly is a historic bull market!
Bitcoin hits new highs every day and trends on hot searches!
Everyone's assets are hitting new lows every day, those without Bitcoin are all holding altcoins, which are all crashing, showing no signs of bottoming out, while Bitcoin continues to rise, enticing shorts and rising again. The daily and 4-hour candlesticks have not shown large bearish candles or long upper shadows. Recently, during Bitcoin's upward continuation, bears have been very active; the more it rises, the more they short, leading to the phenomenon of rising as more shorts are added. The funding rate has returned to 0.01, with OKEx even briefly showing a negative funding rate, yet many bears are still going against the trend. A significant trend can have gaps that do not need to be filled. There is also a gap at 20,000 that hasn't been filled, and those buying altcoins are mostly Chinese, while the institutions are buying Bitcoin! To summarize the key points from this morning:
1: BTC dominance hits a new high of 61%, all altcoins are crashing
2: In the past, when Bitcoin soared, Ethereum followed, and then altcoins followed Ethereum. Be cautious about chasing Ethereum and altcoins at this moment
3: Ethereum has just formed a bear trap, beginning to lead altcoins in a rebound. The low long positions have been very rewarding these days. Continue to buy in the 3060-3030 range, with a stop loss at 3000
4: Neiro, Pnut, and Act have all hit bottom and rebounded; one can build a spot position in batches
5: Applications for various cryptocurrency spot ETFs are in progress, with the DOGE ETF expected to be submitted by December 31
6: NVIDIA expects fourth-quarter revenue of $37.5 billion, slightly above market expectations, with profit-taking leading to a 5% drop at the open
7: folki launched on Coinbase today and surged dramatically
8: Sun bought bananas at the auction site, causing Ban to directly crash
