The giant whale turns over, and cryptocurrencies may welcome a median bottom formation.

CN
3 hours ago

As of today, gold and silver have further expanded their declines, with gold dropping to a low of $4,401 per ounce and silver to a low of $71 per ounce, essentially erasing all gains since January 8. Therefore, I judge that precious metal prices will enter a period of calm for a while, and we will see if prices can stabilize at the mid-December support level.

Looking back at cryptocurrencies, it is expected that the declines from last week will continue today. Bitcoin is still testing the March 2025 low of around 74,500, while Ethereum has dipped to the 21 range and is showing a slight rebound. SOL has found support around 95, and this trend can be said to be the closest to the bottom in the past four months, with bulls successfully defending the last line of support.

Observing on-chain data, several "mysterious whale" addresses have purchased over $300 million to bottom out BTC and ETH, while BA has also reserved $100 million in BTC. This aligns with previous views: the current position may form a new mid-level support.

So, what is there to be anxious about? Hold your defenses well; at least in my opinion, achieving an 8-15% gain before the third day of the Lunar New Year is not a problem.

Public account: Li Mu has something to say

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