Recently, the price of Bitcoin has stabilized around $90,000 and has started to show signs of recovery. The daily chart shows a slow upward trend, while the 4-hour chart remains in an upward channel. Overall, the monthly trend still has room for upside. In my opinion, Bitcoin is very likely to break through the $100,000 mark next. Especially after Trump completes the White House transition, a series of favorable policies are expected to be introduced, and the market outlook is optimistic, and the bull market may arrive as scheduled.
At the same time, the performance of Ethereum has not been satisfactory, and the bearish sentiment in the market is gradually increasing. On the one hand, this is due to the strong rise of SOL, and many people have started to believe that SOL may surpass ETH, attracting a large amount of attention in the short term. However, from the technical level and community influence, SOL still has a large gap compared to ETH. Although SOL's current popularity is higher than ETH, this is only a short-term phenomenon.
The current spot ETFs in the market are mainly concentrated on Bitcoin and Ethereum, with more than 95% of ETF funds in Bitcoin, which is why Bitcoin has risen from $70,000 to $92,000 in November.
If funds start to rotate into Ethereum, ETH is expected to see a more violent rise than Bitcoin, with the potential to break through the $5,000 high. Although many people may think this is unlikely to happen, I believe the probability of such a breakthrough is very high.
Because the current spot ETFs in the market only include BTC and ETH, once the funds flow in, they will inevitably flow into Ethereum. Moreover, the current amount of Bitcoin ETF funds has already approached $100 billion, almost entirely held by institutions. Large financial institutions will not invest in cryptocurrencies that have not been approved for spot ETFs. Therefore, from this perspective, the time for Ethereum to rise is almost certain, and we can wait for this market trend to arrive.
Analysis of mainstream coin trends:
BNB: Currently linked to the overall market trend, just hold it.
XRP: XRP has had a wave of upward movement recently, and may undergo some consolidation and correction in the short term.
SOL: SOL continues to maintain a strong linked trend.
Doge: Dogecoin's market performance remains strong, with upside potential in the short term.
BCH: BCH's performance remains strong, just continue to link with Bitcoin.
AR: AR has not yet started, as a quality coin, continue to hold and wait for the next round of upside.
UNI: UNI is currently in an upward trend, continue to hold it steadily.
OP: OP's current trend is bullish, continue to hold it, mainly affected by Ethereum.
Summary:
The overall market is currently in a stabilizing state, with mainstream coins gradually rotating, and some coins have also experienced significant upward movements. Altcoins have also experienced a wave of market activity, and Bitcoin may rise again next, driving other mainstream coins and Altcoins to follow suit. Although the market will not reach its peak in November, this is just the beginning, and the real big rally may occur in December or January. Therefore, as a retail investor, the most important thing at the moment is to stabilize the chips in hand, avoid blind operations, and wait for the further development of the market.
The bull market is here, brothers, come together!
Finally, there is a lot that has not been written in, such as specific opportunities and specific decisions, which are often not something that can be summarized in an article.
To learn more about the wealth code, or if you have any doubts, follow the public account: Caijing Dongchen
