With the results of the US election announced, Trump's victory, Bitcoin has risen sharply. It has soared from around $69,000 to over $76,000, with a surge of more than 7,000 points in a short period of time, showing an extremely strong upward momentum. Today, Bitcoin has seen some correction, and Ethereum has once again shown strong momentum in the morning, with Bitcoin once reaching around $76,000, but then falling back to a low of $74,450, and Ethereum also correcting from the morning's $2,880 to around $2,810.
The current market performance is dominated by Bitcoin, with other cryptocurrencies experiencing greater volatility. For short-term operations, it is more advisable to take a low-position layout during the correction, rather than blindly chasing the rise, as there may be the risk of a correction after chasing the high. Recently, ENS and LDO have performed well, and as potential targets, they are more attractive in the flow of funds and also suitable for medium and long-term holding. Currently, Bitcoin has the opportunity for a short-term rebound around $74,500, and relatively speaking, Bitcoin is still the most certain intraday short-term trading target. As long as Bitcoin can stabilize above $73,777, or even break through $80,000, the rise of Altcoins is likely to be more stable.
Market volatility has increased, and the tug-of-war between bulls and bears has become more intense. From the liquidation data, it can be seen that although Ethereum surged in the early trading session, the longs actually suffered greater losses, indicating that contract traders have tended to be more aggressive.
From the overall trend, the market has obviously entered a bull market stage. For spot investors, maintaining patience in their positions is sufficient. For contract short-term operations, it is suitable to enter the market during corrections, and it is not recommended to chase the high after seeing the rise, so as to avoid falling into the dilemma of chasing the rise and falling. The outstanding LSD sector and DeFi track in recent times, as well as the leading projects such as RWA, SSV, AAVE, ENA, and the potential mainstream cryptocurrencies such as OP, ARB, ZK and STRK, especially the ETH-related speculation opportunities, are also worth paying attention to.
There is a rotation effect in market funds. If the varieties you hold have not risen for the time being, it is recommended to be patient and not to switch positions at will, but to stick to holding the spot varieties you are optimistic about. For short-term operations, continue to take a low-position layout and wait for the market to bring upward opportunities.
In addition, at 3 o'clock this morning, the Federal Reserve will hold a monetary policy meeting, and it is expected to cut interest rates by 25 basis points. If the rate cut is confirmed, risk assets may be boosted, driving Bitcoin to rise further. Therefore, if Bitcoin corrects during the day, it can be considered to boldly increase positions. Currently, the upward trend of Bitcoin has just started.
The A-share market has also shown strong performance, closing at a high point of 3,470 today after a correction to 3,356, the market sentiment is good, and a breakthrough of 3,700 points is imminent. For cryptocurrencies like CFX, it is recommended to continue to invest regularly, the current price is around 0.15, which has a relatively good cost performance compared to the previous high of 0.21, and it is a good choice to increase positions when the price is low.
Summary
The closing position of the big green candle yesterday was relatively high, indicating that the selling pressure above is not great. The current correction is a normal process of accumulating strength, and after nearly 8 months of volatility, the market is expected to usher in a fruitful half year. The difficult days are over, and you can continue to be patient and hold your positions.
Finally, there are actually a lot of things that haven't been written in, such as specific opportunities and specific decisions, which are often not something that can be summarized in an article.
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