Recently, the price of Bitcoin has performed quite well, mainly due to the inflow of funds from spot ETFs, which has attracted a lot of institutional investors. They are starting to see Bitcoin as a long-term asset with potential. Data shows that the inflow of funds into ETFs in October exceeded $4.1 billion, which is the highest monthly level since March.
However, we also need to be vigilant. Currently, about 99.4% of Bitcoin is in a profitable state, and historical data shows that when the profit ratio exceeds 95%, the market often reaches a peak, which is an overbought situation. This profitable state may lead some people to choose to cash in at high levels, thereby causing selling pressure.
If Bitcoin can steadily break through $74,800 and use this price level as a support, it is likely to continue to rebound, with a target around $80,000. However, if market sentiment becomes cautious, the short-term profit-taking may expose Bitcoin to the risk of a correction, even falling back to $70,000 or lower.
Currently, Bitcoin is in a critical game stage, and any slight change in the wind can lead to violent fluctuations. The next few days will be very important, and the market may choose to break through or enter a consolidation phase, and we will wait and see.
It is worth noting that the PCE inflation data will be released on Thursday evening at 8:30. The market generally expects inflation to decline, which is good news for the market. As long as inflation does not rise abnormally, the impact on the market should be relatively small. In addition, the unemployment rate and non-farm employment data will be released on Friday, and the unemployment rate is expected to remain unchanged at 4.1%, but the expected number of employed persons will drop from the previous value of 254,000 to 120,000.
The secondary market is currently basically a game of funds within the circle, with funds flowing between different projects. Some funds are gradually concentrated in the hands of a few people, who may choose to take over some larger projects. In this case, it would be better for them to directly open their own platforms or cash out.
At present, a prudent strategy is to wait for Bitcoin to break through and generate upside space, and then observe the subsequent capital flow. Look for rotation opportunities from the top 20 gainers, as it is unlikely that all projects will rise simultaneously.
The liquidity of the secondary market is usually slower than the primary market, so don't worry about missing opportunities. There is usually a leading project that enters the gainers list, and then several following projects will also gradually enter the list, forming a wave of increases. Subsequently, the funds may turn to the next sector.
In addition, here are some small-cap quality assets that may be more attractive than MEME coins. If you don't want to invest in MEME coins with market caps of tens or hundreds of millions, you can consider these options:
ETHS
PIZZA
BTCS
RATS
BLUR
ATOM
These projects are all small-cap assets, and although their liquidity is relatively poor, their fundamentals are excellent and are worth paying attention to.
Last but not least, there are actually many other things that haven't been written in, such as specific opportunities and specific decisions, which are often not something that can be summarized in a single article.
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