Bitcoin skyrocketed to $107,773 this morning, setting a new historical high!

Every time it refreshes a new high, there are always concerns about a pullback, but such worries often stem from psychological factors. We are still in the FOMO period in Asia, and the real pullback signal worth paying attention to may have to wait until the US stock market opens.

This rise in Bitcoin is mainly due to MicroStrategy's stock entering the Nasdaq 100 index, and their CEO Michael Saylor has announced a significant increase in Bitcoin holdings.

This indicates that they see $100,000 for Bitcoin as just the beginning, so they continue to buy in large amounts.

This is a clear event-driven momentum, but unfortunately, this driving force may not last long; without new FOMO sentiment, there will be a short-term need for market pullbacks.

Especially under the influence of the Federal Reserve's interest rate meeting and the Christmas market, investors may have a risk-averse sentiment, and market liquidity may decrease.

This week is the last super central bank week of the year, focusing on the interest rate decisions of Brazil and Japan.



Regarding altcoins:

In the past week, Bitcoin has begun to gather momentum, extracting 95% of the market's liquidity, causing altcoins to fall rather than rise, including ETH which is also stagnant. This is a normal phenomenon, after all, there is currently no inflow of off-market funds.

All the on-site funds are pulling up, so the next time Bitcoin reaches the range of 109,300, it will have a few days of consolidation time to see if altcoins can seize the opportunity for a strong rebound.

The explosion of the altcoin season requires ETH's rebound to exert force. Over the last few days, I've observed that ETH has been seeking to break through the psychological barrier of 4100; it seems ready to make a push, and the upper range of 4250-4350 is still quite easy to reach.

Ethereum's efforts in the Layer 2 series will naturally follow, and everyone can select a few low-market-cap coins to enter.

Today, the CAT in the altcoin market performed the most outstandingly, rising over 60% against the trend, mainly because it is about to be listed on Binance for spot trading.

Binance first listed the AI big data public chain VANA, but its performance is a typical VC coin: it first spikes upwards, then slowly declines, and finally gets halved.

Yesterday, Binance announced the launch of MEME tokens CAT and Pengu.

CAT is the second sub-coin from the Floki airdrop, and Pengu is the token for the Fat Penguin BFT on the SOL chain.


Sweet Girl recommends the wealth coin that has been performing well recently:

◢ Fasttoken ($FTN)

Market capitalization: $1.423 billion

24-hour trading volume: $42.0943 million

The pillar of the Bahamut blockchain, crucial for staking, paying gas fees, and cross-chain transactions.

Adopting an innovative Proof of Stake and Activity (PoSA) system to encourage high-quality contracts and promote network activity.

This coin is still very resilient to declines; it was previously recommended by Sweet Girl.

The week is flat, the month is uneventful, and the year is +144%.



◢ Ethena ($ENA)

Market capitalization: $3.427 billion

24-hour trading volume: $746 million

Recently, ENA announced two important cooperation matters:

The stablecoin in collaboration with BlackRock has participated in the MakerDAO competition.

Achieving deep cooperation with the largest on-chain options platform dYdX, jointly building options and structured products on USDe, utilizing Ethena's liquidity and USDe's composability to realize new financial primitives.

ENA has the potential to become the biggest dark horse in this market cycle.



◢ Avalanche ($AVAX)

Market capitalization: $20.153 billion

24-hour trading volume: $839 million


The Avalanche token Avax is also a coin that has just started to rise in the recent altcoin season, and it is one of the better-performing tokens among established public chains.

From a news perspective, the recent rise of Avax is not only due to the 'hype' after Ava Labs' founder hinted at advancing cooperation with the new US government but may also be related to Avalanche's layout and growth in RWA.

Avalanche has a significant advantage in developing RWA, as it allows developers or enterprises to create their own independent subnets.





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