Bitcoin and Altcoins, calm market after surge

BTC·Altcoins, Lack of Good News Leads to Subdued Trading on the 19th
Altcoins Surge, Then BTC Dominance Rises Again in a Day
Cathie Wood "BTC Could Reach $1.5 Million if Regulations are Eased"

The cryptocurrency market, which had recorded a significant rise recently, entered a period of sideways trading on the 19th. After the recent surge due to positive news, the market has remained relatively calm as no additional positive news has been released.

BTC saw a slight increase, while altcoins continued a subdued, slightly negative trend. Despite the quiet market, several news items that could shake up the market were reported.

It was reported that President-elect Trump had a private meeting with Coinbase CEO Brian Armstrong. While the exact details of the meeting are unknown, rumors circulated that Trump would appoint Armstrong as a key member of a "Cryptocurrency Presidential Advisory Council".

Michael Saylor, the "Bitcoin whale", purchased an additional 51,780 BTC from November 11 to 17, and announced plans for further purchases. Microstrategy, founded by Michael Saylor, announced on the 18th that it would issue a 0% interest "convertible note" to raise funds for additional BTC purchases. The target amount to be raised is $1.75 billion (approximately 2.44 trillion won).

◇BTC = As of 4 pm on the 19th, based on Upbit, the price of BTC is 12,831 million won. BTC dominance is 60.01%.

According to on-chain analysis platform Glassnode, the long (bullish) and short (bearish) betting ratio in the BTC futures market was 44.40% and 55.60%, respectively.

Cathie Wood, the CEO of ARK Investment, the "Money Tree", reiterated her bullish stance on BTC.

In an interview with CNBC on the 18th, Cathie Wood predicted that the BTC rally will continue until 2030, and emphasized that "in the bullish scenario, it could surge up to $1.5 million". This suggests that BTC's price could surge more than 16-fold in the future.

On this day, Cathie Wood CEO explained that BTC's price will continue to rise on the back of expectations for regulatory easing.

She said "Relaxed policies related to BTC in the Trump administration will act as an important driver for the upward momentum", and "the upward momentum will be further amplified if institutional investors start to pour in capital significantly".

◇Rising Coins = As of 4 pm on the 19th, based on Upbit, the cryptocurrency that recorded the largest increase from the previous trading day was Akash Network (AKT), rising about 16%.

Akash Network is a blockchain project that trades computing resources. Users can trade CPU, GPU, memory and other computing resources through the Akash Compute Marketplace, and the transaction records are recorded on the Akash blockchain.

◇Fear and Greed Index = The Cryptocurrency Fear and Greed Index provided by Alternative is at 90 points, entering the "Extreme Greed" stage. Extreme Greed is a stage of rising accompanied by high trading volume and strong volatility. The market is highly likely to see an exodus at the peak, making it a sell zone for institutions.

The Cryptocurrency Relative Strength Index (RSI) provided by Glassnode is 57.9, indicating a "neutral" state. RSI measures the relative strength between the upward and downward pressure on the price of a specific asset, and indicates the degree of overbought and oversold of the asset.