Good news! But why is the crypto market falling?
First of all: Although a 25 basis point rate cut has been announced and plans to stop balance sheet reduction in December, it has still dampened market enthusiasm and expectations. Everyone knows (capital needs easing, and society is still dominated by capital), but this two-month buffer period has added countless uncertainties. A huge surge? Don't expect too much (QT is not QE, there isn't that much liquidity overflow), but the dual kings meeting, tariffs, the suspension of QT on December 1st, and employment data are all new points of contention.
Moreover: From a macro perspective, the rate cut is favorable for Bitcoin, as interest rates have been declining, leading traditional financial funds to flow out in search of higher return products. However, this requires a process and may take one to two weeks for the benefits of the rate cut to manifest, so let the bullets fly for a while.
In the past 24 hours, a total of 134,433 people across the network have been liquidated, with a total liquidation amount of $591 million, long positions liquidated for $455 million, and short positions liquidated for $137 million.
BTC
Currently, regardless of the large cycle or small cycle, all technical indicators are bearish. With a 25 basis point rate cut, there should have been some rebound, but after Bitcoin's drop, it hardly rallied. The four-hour chart has shown several large bearish candles, the Bollinger Bands are turning down, and all indicators have turned bearish. The hourly chart also clearly shows bearishness.
However, in the short term, around 115800 is not the peak of this rebound. After a minor pullback and adjustment in price, it will push up again (according to past rules after interest rate cuts, this surge may come in the afternoon or evening). For now, let's just observe the pullback adjustment during the day.
Operation: Short near the current price of 110550-110950, with a stop-loss of 1000 points, targeting around 109600-109200. If it breaks, look to 108600-108300, if it doesn't break, go long.
ETH
The overall trend of Ethereum remains linked with Bitcoin, and its large-scale structure still maintains a fluctuating pattern. Looking at the hourly chart, after the high point of 4253, it has been falling, showing multiple long shadows and upper shadows, indicating heavy selling pressure but also support.
Currently, the technical indicators MACD are all negative, and the green bars are getting shorter, indicating that the bears are weakening but have not yet turned bullish. The EMA hourly 7-period moving average at 3931 has been broken. Today, we will see if 3800 is the last support.
Operation: Short near the current price of 3925-3950, with a stop-loss at 3995, targeting around 3830-3800. If it breaks, look to 3740-3760, if it doesn't break, go long.
Altcoin
In terms of altcoins, focus on the AI sector. X402 reignites the AI craze, and leading tokens like $VIRTUAL, $CLANKER, and $TAO are worth paying close attention to.
Currently, three altcoin ETFs have been approved: SOL, LTC, and HBAR. Among these, the trading volume of SOL reached a maximum of $72 million, LTC's trading volume was $8 million, and HBAR's trading volume was only $1 million.
$LTC
I don't understand why so many people are criticizing (Litecoin)! The entire crypto space is in this situation, and you still expect LTC to skyrocket? Looking at it from another angle, at least LTC hasn't dropped to new lows like those endlessly unlocked garbage altcoins, right? In fact, even if LTC's performance is poor, it still outperforms 90% of altcoins.
$SOL
From yesterday to today, SOL continues to rise and fall, and it seems the trading volume of SOL staking ETFs is also decent. ICM is now also developing vigorously; let's see if it can bring about a wave of ICM SZN.
$HBAR
This coin is performing quite well, and the main reason is simply the market cap; the vast majority of retail investors are buying SOL, and hardly anyone is paying attention to HBAR. Even if the market makers want to hype, they will definitely choose the lightest coin instead of easily making retail investors rich.
$TRUMP
The trading volume has shown unusual fluctuations since the day before yesterday. At that time, I felt the trading volume suddenly surged, coupled with the meetings aimed at driving the market, I decided to get in. I have been waiting for some positive news, and now this message can confirm that the project team is indeed preparing to take action. They have already played their first card, and currently, this market cap is still in the top 5. Let's continue to look forward.
$PUMP
The pump continues to surge upwards; the overall trend is still decent.
