The October CPI data released by the U.S. Department of Labor showed that the annual increase in CPI was 2.6%, and the annual increase in core CPI was 3.3%, both in line with market expectations. This data added support to the expectation that the Federal Reserve will continue to cut interest rates in December, and the market reacted with volatility.
After the inflation data was released, the price of Bitcoin broke through the high of US$93,000 in a short period of time in the early morning of the 14th, reaching a peak of US$93,263.
This wave of gains showed the market’s positive response to expectations of a rate cut, but it was quickly corrected due to selling pressure afterwards, with the price of Bitcoin falling back to around $88,000 and currently hovering at $89,828.
Mainstream market analysis
Yesterday's Market Review
BTC continued to rise yesterday, breaking through 93,000 in a short time, and then quickly recovered. BTC has fluctuated greatly recently, and the trading volume has continued to increase. Retail investors are entering the market, and the market is relatively high. The short-term rise is fast and needs to be adjusted back. It is expected to continue to be adjusted during the day. Pay attention to the support of B6000-87000. At present, the greed index has risen. The old irons who hold BTC have begun to reduce their holdings and control risks. The daily level has entered the buying stage, and the weekly level has entered the overbought stage. The expectation of a correction is strong. Pay attention to changes in market conditions, reduce holdings to avoid risks, and continue to be bullish in the future if the large cycle remains unchanged.
Yesterday, Bitcoin followed BTC in consolidation and is expected to continue to consolidate during the day. Pay attention to the support of 3100-3150.
As for the altcoins, follow the mainstream to pull back synchronously. SATS should be held patiently. You can consider clearing the position around 50. PEOPLE has restored the previous market trend. There was a significant increase during the election. Many people got off the train. You can consider continuing to hold it. FTM should keep holding it. For the new altcoins, ACT can be considered to follow up. There will be good space in the future.
Intraday market analysis
BTC 1-hour and 4-hour levels are above the healthy level, and the daily level has entered the overbought range. It is expected to consolidate and fluctuate upward during the day. The expectation of the big cycle has not weakened. The lower support of the day is 86,000-87,000, and the upper resistance is 91,000-92,000.
ETH 1-hour and 4-hour levels are above the healthy level, and the daily level has entered the overbought range. Consolidation is expected during the day. The current support is 3100-3150 below and the resistance is 3300-3350 above.
3 popular altcoins worth investing in after Bitcoin breaks 90,000!
DOGE
DOGE does have significant market influence, especially with the attention of Musk and Trump, its attention and market value have further increased. Musk’s long-standing public support for DOGE has boosted its popularity and possible applications. At the same time, if Trump's participation continues to deepen, it may bring more market topicality to DOGE, which may bring about broader positive expectations in terms of mainstream recognition, policy support and even ETFs.
DOGE's meme culture and its potential applications on the payment network give it a unique advantage in the mainstream payment market. With the globalization trend of digital payments, DOGE has a natural advantage in achieving fast transfers and low-fee payments. The market's interest and confidence in DOGE are still increasing. If its network further expands its application scenarios, it is possible that the price may approach or exceed $1 in the future.
TURBO
TURBO's performance does show potential upside, especially with the current market sentiment and technical indicators supporting it. Based on recent price action, its price is close to the 10-day simple moving average, indicating that the current stable state may accumulate momentum for the next round of upswings. The current RSI index is 45.43, which is in the neutral zone, meaning that the forces of both bulls and bears are balanced and there is still room for upside. At the same time, the stochastic indicator is close to the oversold area, which usually indicates that a rebound is about to occur.
If the resistance level of $0.01297 can be broken, it will bring about 40% upside potential for the price. The current support level of $0.0098 is stable, and the support of $0.0085 is strong. Buying in the range of $0.009-0.008 is a more conservative strategy, which is expected to gain higher returns in the potential price increase in the future.
ABOUT
As a Layer-1 blockchain designed for global adoption, Sui does offer significant advantages to developers and users. Its object-centric data model and Move programming language solve many of the inefficiencies of blockchain systems, especially in terms of transactions and data management. The design of this architecture not only improves performance and efficiency, but also provides developers with more flexibility and security to build web3 applications.
In addition, the functions provided by Sui, such as zkLogin, sponsored transactions and programmable transaction blocks, can indeed significantly optimize the user experience and lower the user threshold. Its current price is around $3.33, and there is strong support below $2.85, which indeed provides a good entry opportunity for short-term swing trading. If Sui finds support at the current support level, it may be expected to rebound in the short term, which is suitable for experienced investors to conduct short-term operations while paying close attention to the performance of key support and resistance levels.
