Yesterday's cryptocurrency market felt like a small roller coaster ride, BTC slightly shook the market, and those market makers desperately tried to pull the price back but failed.
Currently, Bitcoin's movement is still quite convoluted. Overall, the current pattern remains relatively weak, showing signs of a potential top. From a daily perspective, the 90k level can be seen as a dividing line for the strength of Q1 market conditions.
It is well known that the main driving funds in this bull market are from US capital.
Currently, the Americans are still in a holiday state (from Christmas to New Year), thus it is evident that the current liquidity is very scarce, especially on weekends.
From both the US stock market and the cryptocurrency market, we can see that trading volume and volatility are relatively low. This kind of market is quite common at the end of the year, as there are a large number of settlements, whether for holiday sales or company reconciliations. Therefore, this drop is considered reasonable and does not significantly impact the trend.
If you're interested, you can look back at past year-end market conditions, which have generally been quite convoluted. Except for the monotonous upward trend in 2020, other years have shown oscillating markets. Significant breakthroughs typically occur in January of the following year, so there's no need to overly focus on the market in the next few days; just stay calm.
As of December 27, 2024, ETH will still awkwardly remain at 3300 points, while BTC continues to reach new highs. ETH has not even touched the historical high of 4800 set in early November 2021. In the past year, it has repeatedly surged to 4000 but has repeatedly failed.
What I want to say is that ETH, as the king of altcoins and the king of public chains, has a deep and flourishing ecosystem, already embedded in every corner of the crypto world. Various whales, even Wall Street's influence, have a profound involvement in ETH. Many calculations were predetermined in the last round, at that time other public chains didn’t even have the qualification to carry its shoes.
In other words, a considerable amount of funds and plans have already been stealthily positioned in advance, and the script for the price rise has long been designed, just waiting for specific conditions to trigger.
Currently, the ETH spot ETF policy does not allow staking, meaning users cannot earn staking rewards and must pay management fees, which has hindered a significant amount of capital inflow, resulting in weak ETF attractiveness.
With Trump's rise to power, it is highly likely that subsequent policies will allow ETFs to provide clients with staking rewards. Currently, the annualized staking yield is about 4%. As interest rate cuts progress, the attractiveness of ETH spot ETFs may even surpass BTC, allowing for the enjoyment of the benefits of the Ethereum ecosystem's growth in coin price while also earning interest passively.
Additionally, here is a set of data: When Ethereum rises, everything thrives!
From October 2023 to March 2024, there is a significant altcoin market, during which Ethereum will undergo the Cancun upgrade in March 2024.
From January 2023 to April 2023, there was a significant altcoin market, during which Ethereum underwent the Shanghai upgrade in April 2023.
From July 2022 to August 2022, there was a significant altcoin market, during which Ethereum underwent the Paris upgrade in September 2022.
From July 2021 to November 2021, there was a significant altcoin market, during which Ethereum underwent the Glacier upgrade in December 2021.
From November 2020 to May 2021, there was a significant altcoin market, during which Ethereum underwent the Berlin upgrade in April 2021.
Every time before an Ethereum upgrade, there is always pre-hype! Every time good news is realized, the market tends to end. When is the next Ethereum upgrade? The Prague upgrade in March 2025!
Historically, Ethereum's favorable news is often hyped 2-3 months in advance, so there's no need for me to say much more.
This year's market is difficult to operate in and has a fast pace. We will talk about the fast pace characteristic later. Currently, the control rate of altcoins is very high, and besides waiting, there are no better methods for spot trading. At present, the market is turbulent, and walking alone is lonely. Follow me for daily spot potential layout and bull market strategy layout.
