Current price status: Bitcoin is currently stable above $90,000, and the market is in an adjustment phase. Bitcoin market analysis: short-term adjustment, long-term bullish current market overview.
Short-term expectations: It is expected that from the end of November to early December, Bitcoin may fluctuate below $100,000, and there may even be a certain degree of pullback. The bullish tone remains unchanged, although there may be concerns in the short term, the overall direction is still positive, the logic of the bull market still holds, and the macro environment and market sentiment support the long-term upward trend. Short-term adjustments are a healthy phenomenon: high-level fluctuations and pullbacks help relieve pressure and lay the foundation for future highs. Short-term volatility is inevitable; the key is to maintain confidence and not be swayed by market sentiment. Gradual layout during the adjustment period is a good opportunity to buy low, while maintaining flexibility with funds. Pay attention to key levels; if the pullback increases, focus on the support level around $88,000, and consider increasing positions in phases.
In summary, Bitcoin may continue to fluctuate and pull back to explode contracts. Currently, after Bitcoin broke through 90,000, there hasn’t been a pullback of more than 10%. However, this pullback won’t be far off. For those interested, don’t forget to pick up low-priced chips after the pullback occurs.
Ethereum is currently maintaining a bullish pattern on the daily chart, showing stable growth overall. Since last week, the daily inflow of ETH ETF has been positive. This has led Bitcoin to continuously pull up while the second coin remains stable. The bullish options for ETH have already surpassed those for Bitcoin. If this trend continues, funds may start to flow into Ethereum. Once the fund rotation starts, ETH is expected to welcome a significant rise. Therefore, current holders can continue to hold steadily. Everyone should pay attention to the growth of Ethereum series coins.
Analysis of altcoins
BNB: As the platform coin of BNB, it has recently gained popularity due to the emergence of new Launchpool projects. In the short term, the first support is around 625, and the second support is around 605.
XRP: In November, it pulled three times the space, and it is currently known to be in a high-level fluctuation range. Recently, old coins from the last season have all been sprouting new leaves, and the rises have been good. In the short term, the first support is around 1.35, and the second support is around 1.18.
YGG: The second in the gaming sector, as a strong stock coin, the current popularity is still decent, but its performance is slightly weaker than other coins. However, the gaming sector is only slightly lower than the MEME sector in terms of rising amplitude, and the future explosion will definitely be frightening. In the short term, the first support is around 0.58, and the second support is around 0.52.
ZK: The leader of the Layer sector, currently the market value is far below the other three big players, and the launch time has passed, with no obvious signs of an explosion so far. It is merely following the footsteps of ETH, and as long as the performance of the second coin is good, ZK is unlikely to have issues strengthening. In the short term, the first support is around 1.7, and the second support is around 1.62.
BOME: The Sonala chain has not yet exploded, and it has the frog MEME attributes. The current market value is around $500 million. It has some recognition, and as long as the frog meme is hyped in the future, this coin will definitely become popular. In the short term, the first support is around 0.58, and the second support is around 0.52.
Overall, it seems that the upward pull of the second coin may only be temporary. If Bitcoin hasn’t pulled up significantly, then the altcoins haven’t moved either. Now that Bitcoin is pulling up, it is only creating space for future retracements of more than 10%. The same goes for altcoins. I personally advise my brothers to focus on short-term operations. The real big market may start to gain momentum around the end of December, close to New Year's Day, and then reach its peak before the Spring Festival. Recently, brothers should pay more attention to the daily inflow and outflow of funds for Ethereum ETFs, which can better judge selling pressure and face the macro environment.
