Bitcoin suddenly plummeted to 89,000. The crypto market never plays by the rules, and unpredictability is the norm, which is why many people lose money. However, such volatile market conditions are a paradise for short-term traders. The key is to stick to the bottom line of "taking profits when you can." If you try to make long-term profits in the short term, you will most likely end up with nothing.
BTC
Bitcoin experienced a significant pullback yesterday, falling below the key $90,000 level again and currently hovering near a minor support level. While the decline was strong, the accompanying significant decrease in trading volume over the past two days suggests that the actual selling pressure was not substantial, and the market was experiencing more panic selling than a large-scale exodus of funds.
The recent rebound has been weak, and a further downward probe is highly probable in the short term. However, considering the upcoming Federal Reserve interest rate meeting in four days, market expectations for an interest rate cut have risen significantly, thus limiting the potential for a substantial and sustained decline. The key support level to watch is the 85,000-86,000 range. If the price dips to this level, I plan to consider entering a long position.
ETH
Ethereum has fallen by about 200 points in the short term, briefly dipping below the 3000 mark, and is currently near this short-term support level. However, the rebound remains weak, lacking sustained buying momentum, and technically there is still a risk of another accelerated decline.
If the market breaks below 3000 again, it will likely test the next important support zone of 2880-2850. In the short term, it is crucial to watch whether the 3000 level can hold; this is key to determining the strength of the subsequent trend.
A summary of secondary market catalysts may not necessarily drive token prices up, but they will certainly align with current market conditions.
$AAVE
The community is discussing downgrading or removing Sky's USDS (and related stablecoins) from the collateral list; at the same time, it is preparing to scale back its multi-chain expansion, shut down some unprofitable chains, and keep only the profitable ones.
$JUP
Kamino blocked Jupiter Lend's "one-click migration" feature at the protocol level, which caused a huge uproar, with people saying it violated the spirit of openness.
$YB
YieldBasis has officially launched Fee Switch, with all protocol fees distributed to those who lock up veYB, and the first batch of dividends calculated in BTC.
$SOL / AERO / LINK
Base has officially launched, with the official Solana bridge (Chainlink CCIP + Coinbase support), allowing Solana assets and liquidity to directly enter Base; in addition, Grayscale's Chainlink Trust ETF (GLNK) has been listed on the NYSE, bringing double benefits to LINK.
$UNI
Uniswap has connected to Revolut, a major European cryptocurrency exchange, allowing tens of millions of European users to access the blockchain with a single click, significantly lowering the barrier to entry for newcomers.
$ENA
Ethena's USDe has become one of the quoted assets for Hyperliquid spot and perpetual contracts.
$ENA + MORPHO
21Shares has launched Ethena (EENA) and Morpho (MORPH) spot ETPs in Europe, giving traditional European investors two more on-chain options.
$SOL
Sol has been falling along with the broader market and is currently around 132. Going long at this point still carries significant risk; it's advisable to wait and see. If it breaks below the 130 level, a small short position can be short after confirmation on the right side, targeting the 124-122 area.
$ONDO
I am bullish on ONDO in the long term. It has already captured over 70% of the market share in the core RWA (Real-Time Exploration and Investment) sector for US stock trading, and major platforms like Binance use its protocol for cryptocurrency-stock trading. Although its market capitalization has reached $2.3 billion and there is a large unlocking of tokens every January 18th, I still plan to buy in when the price falls below $0.20 to capitalize on a bull market.
On-chain
$BUBBLE
The liquidity on-chain meme meme coins on BSC still needs to be ignited by the two gods! While you are all eating the first sister's $1, I prefer the big brother CZ's $BUBBLE. After a long time, I made more than 20 times, and it felt like I saw a return on my investment.
Half of the 1.6 million has already been pocketed, and the remaining half will be held to aim for 5 million. After all, this conversation between Big Brother and Peter Schiff directly represents the ultimate showdown between BTC and gold, and it will definitely be the biggest hot topic in the short term!
$Kurumi
This stock (_2024111120230_) is a meme-based stock I've been watching for a long time. Its initial market capitalization of around one million is relatively stable. The market maker is the type to suddenly pump and dump the stock at irregular intervals. Those who like to play the second wave should look for opportunities to get on board!
Opportunities are fleeting, thank you for your attention!
Opportunities are fleeting, thank you for your attention! QQ: 1037184923
Every sharp drop is followed by a period of great potential. Those who are unsure about future market strategies can follow Potato (or similar product/service): TDTB07
