Yesterday, the net inflow of the US spot Bitcoin ETF was $754.79 million. The price of Bitcoin rose from a low of $89,259 a few days ago to a high of $100,866 today. The shorts in the market also suffered heavy losses after just a couple of days. This confirms what was said in the previous article, that the market manipulators are using the downturn to accumulate and change positions, rather than just dumping.
As the market warms up,
The strong manipulator coin XRP mentioned in the previous article has once again broken its historical high, reaching $3.20. Over the past two months, XRP whales have accumulated 1.4 billion XRP, worth about $3.8 billion. This is due to the anticipation of the XRP ETF being launched, prompting the whales to bet on XRP in advance.
Similarly,
LTC ETF, like XRP, also has expectations of being launched, so in this round of rebound, LTC, as an established altcoin, has also performed impressively. This week, the price has risen about 26% from its lowest point. However, once these coins' ETFs are actually launched, the whales may start to sell off and look for the next hot spot.
With only about four days left until Trump takes office, today Israel and the Palestinian Islamic Resistance Movement (Hamas) reached an agreement on a ceasefire in Gaza. The agreement will take effect on January 19. This is what many Palestinian people have been looking forward to. Last year, every time news reports showed both sides exchanging fire, our accounts would tremble three times. Now, as the negative news is gradually lifted, the Biden administration's final frenzy is about to extinguish, and what awaits us next will be a peak bull market.
Next, let's take a look at the trend of Ethereum. As the market gradually warms up over the past couple of days, Ethereum's daily K-line has successfully stood above the daily 30MA moving average, confirming a rebound trend in the short term.
From
the chart, we can see that the recent daily bearish candle's high is around 3701. In the short term, we need to pay attention to whether Ethereum can break above 3701 with volume. If the market does not break the daily resistance level of 3701, it is likely to retest the daily support around 3186. If the price breaks above 3701, then the next stage for Ethereum will test the resistance around 4042. From the daily level, it can be seen that there is still strong selling pressure around $4000. The bulls have tested the resistance above $4000 twice but failed to hold, resulting in a large bearish candle that pushed the price down. If this round of rebound allows Ethereum to break the $3701 resistance and the price can break through the $4000 resistance with volume, then the price will accelerate towards the historical high. As long as this round of rebound allows Ethereum to achieve a breakthrough, the altcoins in the market will be able to catch their breath and continue to move towards previous highs, and we might even see a few dark horses at the peak of the bull market.
In terms of mainstream coins, besides Bitcoin and Ethereum, we can still pay attention to SOL and BNB. In the MEME sector, we can keep an eye on PEPE and SHIB, and in the AI sector, we should focus on the leading FET. Other altcoins will not be analyzed one by one here; as long as Ethereum rises, everyone will not fare too poorly.
Most of the altcoins in your hands that were chased up last year are still trapped, but with the peak bull market approaching, there is great hope for recovering losses or making a comeback because anything is possible in a bull market cycle. If you are uncertain, feel free to post the altcoins you hold in the comments section, and I, along with everyone else, can help cheer you on.
That's all for today. Thank you all for your long-term support of the old dog~
The fan group and spot trading group are still open. If you are still in cash before the peak of the bull market, you will miss the entire bull market. If you are unsure about what to buy in the spot market and need one-on-one position allocation from the old dog, you can consult the assistant at Q:81497067 3780765809.
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