Hot News:
The trading volume of Lyd IBIT reached $57 million in pre-market trading yesterday, with 50% being active buy orders; Bitcoin's trading price exceeded $70,000 for the first time in over seven months; the fund flows of the spot ETF show signs of an 'October rally';
@MicroStrategy's leveraged Bitcoin strategy has outperformed BTC this year;
After Elon Musk shared his Dogecoin plans at a large Trump rally, the price of Dogecoin surged; $DOGE is the only one keeping up with $BTC or even surpassing it.
Time Will Ultimately Witness the Return of Value
Market cycles are like tides, and established changes will eventually come. In this bull market, we first encountered a new high for Bitcoin before the halving, long-term fluctuations after the halving, and extreme divergence with the entire sector declining except for Bitcoin. Meanwhile, short-term hot money has flooded into the worthless meme coin sector, a phenomenon never seen before.
Whether retail investors, top VCs, or crypto funds, everyone faces unprecedented challenges. During difficult market times, no one can easily bypass the obstacles; only persistence can lead to success.
Currently, the market is in a delicate balance, with the U.S. elections approaching and interest rate cuts pending. Bitcoin has returned to a pressure level after a sharp drop, brewing a new adjustment, while altcoins like Ethereum remain deeply entrenched at the bottom.
But believing in the power of time, market fluctuations will eventually return to rationality, and valuable assets will shine under the test of time. Stay patient; time will ultimately reward.
BTC
As mentioned yesterday, the breakthrough at 68,700 continues to look upward towards 69,000-69,500. Here, it was initially rejected upon first touch, only providing a brief opportunity. It surged again in the early morning, breaking through 69,500 and capturing liquidity at the 70,000 mark! The daily close was above 69,500! Since a new high has formed, continuing the upward trend, watch for buying opportunities on the pullback to H168900-68,400! There is still room above, with high point areas at 71,200-72,000! Be cautious of risks when reaching this position!
ETH
For those who entered around 2,470 yesterday, the profit target of 2,530-2,570 has arrived as expected! Automatic profit-taking is a pleasure! In the evening, a rejection was given at 2,530-2,570, with a target of 2,495-2,470, which once again arrived as expected! At the same time, pay attention to buying opportunities at 2,495-2,470; if continued to be grasped, the target area of 2,580-2,620 will be achieved again! A rhythm of back and forth!
Currently, focus on 2,515-2,490; if an opportunity arises, the target area is 2,620-2,640!
SOL
173 has consistently held without breaking, and with support forming in the 173-176 range, there is a probability of continuing to test the 181-194 area!
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