This morning around 06:30, Bitcoin dropped as low as $93,000, marking the lowest point in nearly a week. The market liquidity shortage caused by the European and American holidays seems yet to have shown any significant recovery.
In the past 24 hours, a total of 76,503 traders were liquidated, amounting to $160.03 million.
Has Bitcoin's recent movement made you feel drowsy?
Recently, I made a comparison and found that Bitcoin's trading volume has dropped to a quite low level, almost the same as the trading volume during the eight months of fluctuation around $65,000. This indicates that the current market decline is not a result of 'whales' or 'big players' manipulating it, but more due to the 'PVP' (Player vs Player) interaction among BTC holders in the current low liquidity.
In other words, the true trend of prices will only reveal itself after market liquidity recovers. In such a low liquidity environment, any small-scale transaction can trigger significant price fluctuations, so the declines we observe do not represent the long-term trend.
Today, from the K-line perspective, Bitcoin shows signs of a halt and rebound in the 1-hour chart, with a downtrend in the 4-hour and 12-hour charts. The daily trend is still at the bottom, which needs to be maintained longer; as for the final low point, let's first observe the consequences of the actions impacting the clouds over the next few days. The intraday resistance level is $96,500, and the support level is $91,000.
The New Year is approaching, and a big market trend is about to arrive.
Ethereum's recent strong performance has rekindled market confidence, and the signals of a market shift are becoming increasingly evident, as it seems to have entered a new phase. Especially with FTX's compensation due on January 31, there are only four days left, so it's worth paying attention to the potential trend of FTT, which might bring surprises.
Meanwhile, AI agent projects on the blockchain are springing up like mushrooms after rain, with new developments every day. However, the AI projects in the secondary market still seem quiet, as if waiting for the right moment. Other sectors are the same, with everyone patiently waiting for the next opportunity.
From the current trend, the rotation of sectors may present a pattern similar to that at the beginning of the year, starting with AI projects, then meme coins, and then other sectors. This cycle repeats.
Recently, pnut act neiro seems to be rebounding from the bottom, indicating that future gains could be quite substantial. Looking back at the last cycle of BNB, BGB had a similar trend, which made me spend a lot of time researching various new coins on BITGET, such as Candybomb, LaunchX, PoolX, and LaunchPool. After some filtering, I found that the one with the highest overlap was actually FUEL. The frequencies of other coins like BGB, TOMA, PUFFER, ZRC, COW, XION, L3, PEAQ, and SWELL were also quite high.
To better grasp the potential of these coins, I specifically created an internal table and conducted detailed research on them.
Lastly, I'll casually mention 'sh*t coins'.
Buying early is not as good as buying wisely; without research, there is no right to speak.
LOL, the sh*t coin group is too funny. I heard from a friend that one was released last night in a sh*t coin group. Before the official Twitter announcement, two members said it was opened by a KOL and that the dev had run away. In the end, all the members bailed out, and when I woke up, it was at a new high!
Hahaha, the biggest enemy of the sh*t coin group is its members.