Last week's market was affected by the formation signal of the '12H high point' in multiple cryptocurrencies, resulting in a volatile decline. Bitcoin dropped to around 9.1, rebounding after hitting a 1H low, while Ethereum fell to around 3260 before rebounding, showing stronger relative performance compared to Bitcoin, with a weekend high reaching around 3750 after breaking through the high point on the rebound. The weekend market continued its upward volatility, and the market trends were somewhat similar to last weekend, with major cryptocurrencies BTC, ETH, BNB, and SOL collectively cooling off, while some altcoins and second-tier cryptocurrencies gained strength, such as XRP, EOS, LTC, and SHIB, all experiencing increases of over 10%. The market's profit-making effect is still present, just shifted to different places, with most cryptocurrencies beginning to establish their independent market trends. This is also what we mentioned last week, that we should start paying attention to 'altcoin trends.' In fact, this shift is beneficial for the market; moving from Bitcoin's solo dominance to a general rise in mainstream altcoins allows most people to make money, which gives a more bullish market feel. We can continue to pay attention to this moving forward. From the perspective of BTC's larger cycle, Bitcoin is still in a high-level consolidation process. Although there is a 12H high point pressure, the probability of turning bearish in the short term is low. However, due to the substantial buying energy consumed from the previous three weeks of increases, it is entirely normal to experience one or two weeks of consolidation and adjustment. Currently, Bitcoin is still within the influence cycle of the 12H high point. From a 4H level, it tends to consolidate after a B-wave rebound. If it goes up further, 9.85 would be the high point of B5. If the B-wave rebound ends and it moves to C, then it needs to break below 9.55 first, and you can focus on the trend line below at the 4H level. Ethereum, after last week's surge, seems to want to establish an independent market trend, but currently, there has not been a significant continuation of the surge, and several 6H and 4H high points have emerged around 3700, indicating a lack of upward momentum. If it cannot break through decisively, it will face short-term adjustments. The key level this week is at 3750, and the support for downward adjustments can also refer to the ascending trend line. Overall, several mainstream cryptocurrencies have shown stagnation over the past two weeks, accompanied by high point signals from different cycles of 4-12H. Additionally, the market is beginning to spread among established mainstream and altcoins, so the rhythm will change. Once the market begins to differentiate, opportunities will become relatively scattered, making operations somewhat more challenging. In a volatile market, one can refer to high and low point signals, going short at high points and long at low points.
Weekly Highlights | AI Meme erupts again, Base becomes the new battleground for speculation; Tornado Cash welcomes regulatory good news.
Weekly Highlights 2024-11-30 + Follow AI Meme erupts again, Base becomes the new battleground for speculation, Virtuals' market cap exceeds $1 billion; Tornado Cash welcomes regulatory good news, the privacy track may get a breather. PANews Editorial Note: PANews has selected quality content from the week to help everyone fill in the gaps using their weekend time; click the title to read. Macroeconomic perspective Full transcript of Arthur Hayes' podcast: Cash out when it's time, Bitcoin will reach $250,000 by the end of 2025. In a recent interview on the podcast Alpha First, Arthur Hayes shared his bold predictions for the future of the cryptocurrency market. He believes that with the possible return of the Trump administration, the US's loose monetary policy will lead to the depreciation of the dollar, further driving up the prices of Bitcoin and other crypto assets.
Today's market highlight: This week, the net outflow of Bitcoin spot ETF in the U.S. reached 134 million USD, marking the first weekly net outflow in Q4.
1. Market overview
1. The total market capitalization of cryptocurrencies across the network is 3.587 trillion USD (-0.7%), with a 24-hour trading volume of 205 billion USD. Bitcoin (BTC) accounts for 53.4% of the market cap, while Ethereum (ETH) accounts for 12.5%.
2. Today's Fear and Greed Index stands at 81, down 3 points from yesterday, still categorized as extreme greed. The BTC dollar-cost averaging index is at 16, down 1 point from yesterday, suggesting a hold-and-watch approach.
2. Key news details 1. The total open interest in ETH contracts across the network exceeds 24.5 billion USD, setting a historical high
The season of altcoin rallies is about to arrive! Will VC coins still be hyped? These three popular coins are worth considering!
The season of altcoin rallies is about to arrive! Will VC coins still be hyped? These three popular coins are worth considering. Yesterday, Ethereum had a strong rally, rebounding over 400 points from around 3250 to 3688. There is some pressure around 3700 due to earlier Ethereum ETF approvals, which created some trapped positions above, so this level will likely need to consolidate before continuing to advance.
From the perspective of rotational recovery, ORD has yet to start; perhaps once it explodes, it will see a significant increase. It's worth looking forward to, as this project once led a small bull market. Buy when no one is paying attention; don't chase after it rises! The upper range can be seen at 50-60, while it is currently at 40, making it still very cost-effective.
How I Transformed 50,000 into a Negative 20 Million in Two Years of Trading Cryptocurrencies
I trade cryptocurrencies: In two years, I turned 50,000 into a negative 20 million. After a lot of struggles and experiences... trading insights. 1. Divide your funds into 5 parts, and only enter one-fifth each time! Control a 10% stop loss; if you make a mistake once, you only lose 2% of your total funds, and if you make 5 mistakes, you lose 10% of your total funds. If you're right, set a take profit of over 10%. Do you think you will still get stuck? Yes, you will. In a bull market, I short, in a bear market, I go long. When I buy, it drops; when I short, it rises. I can't hold on, and the stop loss is 2%, ten times is 20%. 2. How to improve the win rate again? Simply put, just two words: follow the trend! In a downtrend, every rebound is a trap to lure buyers, and in an uptrend, every drop creates a golden pit! Which is easier to profit from, bottom fishing or buying low? Neither, it’s all up to the mood of the market makers.
When the bull market arrives, don't get off the train. AI will be the protagonist this time.
Last week's weekly report showed that Bitcoin was hovering around 69,000, but this week it has surpassed 80,000, refreshing its historical high and challenging the 100,000 mark. Last week, Ethereum was hesitating at 2400 about whether it could hold, but this week it has already reached 3200, aiming for 3500. The 'Election Week' anticipated significant fluctuations, but the market movement came faster and more violently than expected. Looking purely at the weekly growth rate, BTC's weekly increase is 16.8%, and ETH's weekly increase is 29.5%, both representing the largest growth spaces in the past six months. From the overall market perspective, the weekend market blossomed comprehensively, unexpectedly showing major movements even on normally quiet weekends. This is a characteristic of a bull market, where the market experiences a widespread increase, and many independent trending coins are starting to emerge.
1. Musk: Tesla is improving the design of Optimus robots for mass production. According to reports, Musk revealed that Tesla is enhancing the design of the Optimus robot to address key bottlenecks in the production process. Musk has previously expressed great confidence in the Optimus robot, predicting it will become one of the most popular innovative products of all time due to its outstanding performance. At the recent 'We, Robot' event in Los Angeles, Musk further disclosed the estimated price range for Optimus, which is between $20,000 and $30,000, igniting market expectations. He emphasized that this robot will become a capable partner in daily life, whether it's accompanying a pet dog on walks, looking after lively children, or delivering drinks at social gatherings, Optimus can handle it all with ease. Although the functionality of Optimus is maturing, Musk candidly stated that the Tesla team is working tirelessly to iterate and upgrade its design in hopes of achieving a leap in production efficiency. Currently, Optimus has been preliminarily integrated into factory operations, rapidly expanding its capabilities. 2. Musk may intervene to suggest Trump adopt a more lenient alternative to Biden administration's AI executive orders. According to Fortune magazine, with the results of the U.S. elections settled, Musk's support for Trump, viewed as a gamble by outsiders, has yielded obvious immediate returns. It is reported that Musk may attempt to persuade Trump to abandon his opposition to the Biden administration's electric vehicle tax credit policy and encourage the purchase of electric vehicles. Following Trump's victory speech, Tesla's stock price surged. Investors expect the Trump administration to halt federal investigations and enforcement actions against Tesla, particularly those related to its autonomous driving software.
Magic Eden: The test token TestME will be launched on October 29, running for 3 days PANews, October 27 - Magic Eden stated on platform X that the test token TestME will be released on October 29, running from October 29 to October 31. Assistance for claiming test tokens:
Ensure your wallet is correctly set up and linked to the platform Familiarize yourself with the token claiming process Help the team identify and resolve any potential issues before the official ME token claiming goes live Previously, Magic Eden announced that the ME test token claiming would take place at the end of this month, followed by the announcement of the token economics.
CME Federal Reserve Observation: The probability of the Federal Reserve keeping interest rates unchanged has fallen to 2% PANews October 26, according to Jinshi reports, investors expect that the possibility of the Federal Reserve maintaining interest rates unchanged at the next meeting has decreased, while the inflation and employment data scheduled to be released next week may still change expectations.
According to CME Federal Reserve Observation, the probability of the Federal Reserve keeping interest rates unchanged has dropped from nearly 20% earlier this month to 2%. Most people are betting that the Federal Reserve will cut rates by 25 basis points. The September PCE data will be released next Thursday, and the October employment data will be released next Friday. Price data show that inflation is persistent but not overheating. Employment data may be subject to one-time impacts from hurricanes and strikes.
Bitcoin halving is coming soon, the future trend of the currency circle
It is boldly predicted that the Bitcoin halving this time will not be as dramatic as the previous one, and there may be a partial correction. From the perspective of the international situation, the interest rate hikes in the United States in the past two years are different from those in the past. In the past, the Federal Reserve raised interest rates and then bought the bottom. Cut interest rates and release funds to pump up shipments. However, this time the Fed's layout has been successful in advance by hunting for lows in the process of raising interest rates, so this bull market may not last as long as in the past. Therefore, starting from the halving, the currency circle will not smash the market as before, but will continue to rise until the Federal Reserve cuts interest rates. All assets in the world will quickly rise and violently ship out, completing this round of harvesting. In terms of time, the brothers in the short position would rather stay on the short side than go in directly. I recommend a few coins here: fet op ssv jup wif. Don’t look at the market value. It’s useless to look at the market value in the bull market. Buy stud by head and hold on.
Be brave and careful, experience is your wealth, and you must pay no less tuition in the currency circle. If you speculate on Ethereum in May, buy it now. If it pulls back, buy it and open a position immediately. ssv ldo op ethfi to make money.