In the past couple of days, the market has been relatively weak, and Bitcoin's market share has fallen to 54.65%.
The sluggish performance of Bitcoin is mainly due to two reasons: one is that altcoins are continuously siphoning off Bitcoin, and the other is that the US government transferred 19,800 Bitcoins, causing some panic among investors.
Some investors feel that the current Bitcoin price is a bit high, and they are selling in batches.
However, I don't think we need to worry too much; Bitcoin reaching $100,000 is just the beginning, and it is very likely to reach $200,000 in this bull market.
Because Bitcoin is now in short supply.
In November, the US spot Bitcoin ETF purchased 71,570 Bitcoins, while the Bitcoin mining output during the same period was only about 13,500 Bitcoins.
Yesterday, MicroStrategy spent another $1.5 billion to buy 15,400 Bitcoins at an average price of $95,976.
Bitcoin mining company MARA also spent about $618.3 million to buy 6,484 Bitcoins between October 1 and November 30.
This indicates that institutions are still continuously buying, and the demand for Bitcoin in the market is very high.
According to disclosed data, institutions, including MicroStrategy, Tesla, and Coinbase, have bought at least 1.26 million to 1.36 million Bitcoins during this bull market.
From the perspective of new funds entering the market, Tether has issued 1 billion USDT on Ethereum.
Additionally, according to CME's Federal Reserve observations, the probability of a 25 basis point rate cut in December has risen to 75.1%.
Federal Reserve's Williams and Waller are inclined to further cut interest rates in December; it looks like a rate cut in December is highly likely.
So, there is no lack of funds in the market right now; it just lacks a trigger point for sentiment.
We just need to hold onto our Bitcoins and not get left behind.
Let's take a look at the situation with altcoins.
Today, ONDO surged over 40%, our core group positioned themselves at $0.6-$0.7, and now it has doubled. Remember to recover your principal after it doubles and keep the profits running.
These assets can be held until next year when Trump takes office; after recovering the principal, you can ignore their fluctuations, which will help maintain a better mindset and hold on.
In the MEME coin market, moodeng rose by over 80%, mainly because Coinbase listed MOODENG.
It is also the smallest market cap meme coin listed on Coinbase in recent years; we can see how the Coinbase listing effect plays out this time and how long the hype lasts.
If the consensus and hype are high, there will likely be new MEME coin projects listed on Coinbase soon.
Yesterday, we also positioned ourselves in some projects that may go live on Coinbase and Robinhood.
Coinbase users rank second only to Binance; combined with Robinhood, we can see if there will be any surprises in a few days.
Overall, the funds in this bull market mainly come from the United States.
Whether it's the spot ETF for Bitcoin and Ethereum or institutions applying for the XRP ETF, it has led to a surge in XRP.
Furthermore, Coinbase has listed moodeng. It can be seen that the wealth effect in the recent market is very strong, and the FOMO sentiment among American investors has also risen.
Based on the current trend, the altcoin season has begun to explode.
Altcoins are starting to rise chaotically, ADA has increased several times, and even junk like EOS is rising; it can be said that this is a money-grabbing market.
For regular retail investors, just sit tight, hold on well, don't change vehicles randomly, position in advance, and hold coins to wait for a rise.
