Recently, Bitcoin's price briefly rose to $69,519, almost breaking through the $70,000 mark, but quickly retraced. Last week, Bitcoin's increase reached 8.9%. From a weekly perspective, there may be signs of a pullback in the short term; however, on the 4-hour and daily charts, Bitcoin's performance has started to weaken. Nonetheless, the monthly chart has not peaked yet and still has room for further increases. Therefore, considering the overall trend, we expect Bitcoin to experience a consolidation pullback this week. After the correction, it is likely to continue breaking upwards.

Compared to Bitcoin, Ethereum's monthly trend shows an upward momentum, but the market is not strong in the short term, lacking the momentum for sustained increases. From a daily perspective, Ethereum also shows signs of weakening, making it difficult to maintain above $2,700 in the short term. A slight pullback is expected, leading to a period of consolidation repair. After completing this consolidation repair, Ethereum may challenge the $3,000 mark. Overall, the medium to long-term trend remains bullish, and investors holding Ethereum can continue to be patient.

Mainstream Cryptocurrency Dynamics

BNB: The overall trend of BNB is still upward, showing stability.

XRP: The market for Ripple has begun to strengthen, and although there hasn't been a significant rise yet, it is expected to enter a phase of rotation soon.

SOL: Solana has been rising continuously, but it may need a pullback for correction in the short term; the long-term trend remains bullish.

DOGE: Dogecoin's trend remains strong, and the outlook is still bullish.

BCH: Bitcoin Cash is currently maintaining an upward trend, and its performance is still optimistic.

AR: The trend of Alpha tokens is in a consolidation phase; it is advisable to hold on, as a rotation rally is expected soon.

UNI: The trend of UNI mainly follows the fluctuations of the market, continuing in a consolidation phase.

OP: The short-term trend of OP is linked to Ethereum, mainly showing consolidation.

Summary

This year, the options trading volume for Bitcoin has significantly increased, indicating the entry of more mature traders. With the recent approval of Bitcoin spot ETF options trading by the U.S. Securities and Exchange Commission (SEC), trading volume is expected to rise further, especially with the focus on BlackRock's Bitcoin spot ETF, which is likely to attract more institutional investors and enhance their interest in the crypto market. Recently, the likelihood of Trump's election has increased, market sentiment continues to warm, and there are bullish signals in the market.

Although Bitcoin needs a consolidation repair after a short-term rise, altcoins have also begun to show strong upward momentum, with many coins already experiencing rotation rallies. The current market trend is not very suitable for short-term operations; therefore, it is recommended that investors continue to hold and patiently wait for the next market explosion.

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