Today, market sentiment has clearly improved, with various altcoins performing strongly, indicating that the current price range has gained market recognition. The critical support level at 91,000 is stable, and unless significant negative events occur in the short term, it is unlikely to be breached. Personally, I believe the market may attempt to challenge the 100,000 mark this week. The resistance for an upward breakout is relatively small, and for market makers, stabilizing above 100,000 before December could significantly boost market confidence and potentially lead to more upward trends by the end of the year: such as breaking 120,000 in December, hitting 150,000 in early next year, and challenging 200,000 by the end of the year. Current market sentiment is still slightly lacking compared to past bull markets, thus increasing the demand to push Bitcoin up.

Analysis of Macroeconomic Factors

On the macro front, the Federal Reserve released the minutes of the November FOMC meeting early this morning, with several noteworthy points:

If inflation rebounds, interest rate cuts may be paused.

If the unemployment rate rises or the economy slows, rate cuts may accelerate.

The majority of voters support a 25 basis point rate cut in December.

Overall, the Fed's decisions still heavily depend on inflation and employment data, and the probability of rate cuts is currently balanced. After the minutes of the meeting were released, CME reduced the probability of a December rate cut from 75% to 66%. Tonight, the U.S. will release the core PCE inflation data for October, which is expected to be higher than last month, and the market anticipates a rebound in inflation. If the data can match the previous value, market sentiment may improve.

Market Review and Hot Sectors

Thanks to Bitcoin's rebound during the day, many altcoins have also performed strongly. Among them, the exchange rate of Ethereum to Bitcoin has been continuously rising recently, and last night, Ethereum ETFs saw a net inflow of 40 million USD, maintaining positive inflows for three consecutive days. Market expectations for staking ETFs are heating up, and if launched, it would further reduce the circulating supply of ETH, thereby increasing its scarcity. Additionally, the market holds optimistic expectations regarding Trump's policies, believing that his ascent could accelerate regulatory easing for crypto assets, enhancing the chances for other projects like SOL, XRP, DOGE, etc., to challenge ETFs.

On the other hand, it is worth noting that a U.S. court ruled that sanctions against Tornado Cash were illegal, which led to TORN skyrocketing tenfold in one day. However, due to the project's delisting from major exchanges, it can currently only be traded on-chain, making it a high-risk asset that ordinary investors are advised not to blindly participate in.

From the performance of the sectors, projects in public chains, DeFi, and staking/re-staking have seen the largest gains:

In terms of public chains, XLM has doubled in seven days, with TIA, FTM, DOT, and others rising over 50%.

DeFi leaders AAVE and UNI have risen over 30%.

Staking-related project LDO has seen a seven-day increase of about 50%, possibly related to news about Ethereum staking ETFs.

Meme Sector and Innovative Projects

The Meme sector has been relatively flat recently, especially after the new coin THE was launched on Binance, which has somewhat scattered market sentiment. However, there are still some bright performances on-chain, such as the AI sector's UBC breaking the 100 million USD FDV. Additionally, CLANKER on the Base chain continues to rise, but some projects like BUG and RIF have experienced significant pullbacks. The DeSci sector is constrained by liquidity and validation issues, leading to large price fluctuations, but it still holds potential in the medium to long term.

Today's article ends here, welcome to play together on the homepage~

Investment carries risks, the above content is a personal share and does not constitute investment advice!