Original

The US October CPI is in line with expectations, Bitcoin breaks through the 90,000 mark! Trump's victory triggers a surge in Musk-themed Telegram game token X Empire!

avatar
加密小喵y (公众号同名)
20 hours ago
This article is machine translated
Show original
The US October inflation data met expectations, and Bitcoin returned to $90,000
According to the report released on Wednesday, the Consumer Price Index (CPI) rose 0.2% in October, in line with expectations, and the same as the increase in September. The year-on-year CPI rose 2.6%, slightly higher than the 2.4% in September. Core CPI (excluding food and energy) rose 0.3%, in line with expectations, with a year-on-year increase of 3.3%. After the release of these data, the price of Bitcoin rose to $89,500, up nearly 30% in the past week. The Fed's rate cuts since September and the loose monetary policies of Western central banks, as well as the background of Trump's pro-cryptocurrency election, have provided upward momentum for Bitcoin. CME FedWatch data shows that the market's expectation of a 25-basis-point rate hike by the Fed in December has risen from 60% to 69%. Bitcoin hit a new high, Trump's election boosted the market, and the X Empire token surged 53%. Bitcoin hit a new high, partly influenced by Trump's election, which has driven the entire cryptocurrency market. However, in the past 24 hours, the surge in the X Empire token has been the most remarkable, soaring 53% to the current price of $0.000073. The token was minted on The Open Network (TON) and briefly touched $0.000096 on Wednesday evening, rebounding from its historical low on November 3.

The X Empire token has become the second-largest token by trading volume on TON, second only to Toncoin, with a 24-hour trading volume of $316 million, an increase of 356%. The game pays tribute to Elon Musk, originally named "Musk Empire", and focuses on upgrading Musk and his company's image, becoming a hot topic recently. Other tokens related to Musk, such as Dogecoin, have also seen significant increases. DOGE has risen 73% in the past 30 days, partly driven by the news that Trump proposed to put Musk in charge of a new government department "D.O.G.E.". Musk claimed after the election that X (formerly Twitter) had set a "record usage", further heating up the cryptocurrency market.

Bull markets usually go through four stages: the pessimistic stage (the market is just starting, and people see no hope), the skeptical stage (the market is rising, but there are still doubts), the optimistic stage (investors start to get excited, and the market is steadily rising), and the euphoric stage (the market is rising too fast, the risk is increasing, and the bull market is approaching the end). The market is still in the early stage of the bull market, and the correction is a normal phenomenon, so there is no need to worry too much.

In a bull market, the real money-making window is usually within 1-3 months, and it is crucial to adjust the strategy according to the different stages:

  • Early bull market: Plenty of opportunities, high tolerance for errors, suitable for decisive action and adding positions.
  • Mid-bull market: Maintain stability, reasonably control positions, and avoid being trapped.
  • Late bull market: Be alert to market risks, and exit and lock in profits in a timely manner.

Overall, seize all the correction opportunities, operate steadily, and the next few months may see even greater upside potential.

That's all for today's article. Currently in a bull market, with turbulent developments, we have cryptocurrency sharing every day. If you don't know how to do it in a bull market, welcome to follow our public account, Crypto Kitty y, bull market spot cryptocurrency, layout strategy, and free sharing.

Sector:
Halving Tokens
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Relevant content