On November 22, Bitcoin surged to a high of $99,640, coming very close to the $100,000 mark. This also allowed the total market capitalization of cryptocurrencies to break through $3.5 trillion, setting a new historical high, with Bitcoin's market share exceeding 55%. The market sentiment index shows it remains in the greed phase, with market activity significantly increasing, and altcoins generally experiencing substantial gains following the main market trend.

However, the market doused the fervent investors with cold water at this time, as Bitcoin retraced to around $92,600, currently recovering to around $94,600 for adjustment. While large long contracts faced significant liquidations, the popularity of the Meme projects that had been hot for several consecutive days also saw a decline. Although many institutions are optimistic about future market trends, predicting an 85% chance of Bitcoin reaching $100,000 before the end of the year, there are still views suggesting that excessive optimism should be avoided.

A significant rise is always followed by a correction; this is the norm. There has never been a continuous rising trend in any financial product. This wave of increase has exceeded 27,000 points, and the current high-level correction is only about 6,000 points. Sister Ying believes this wave of correction is not yet complete. After all, as the 'Trump effect' cools down, the correction will continue. The focus moving forward is whether the majority of the gains can be maintained in December, as Trump will officially take office in January 2025, which is bound to trigger another wave of excitement.