The price of Bitcoin (BTC) has experienced a significant drop due to the investigation of the largest stablecoin issuer, USDT, by the U.S. Department of Justice. This situation has occurred multiple times in the past, usually resulting in a short-term price decline, but it does not alter the long-term upward trend. As retail investors, we can only accept such sudden events and patiently wait for the market to stabilize.

Recent daily charts of Bitcoin show a double-top formation, with the current important support level around $65,000. Nevertheless, the moving average support on the four-hour chart remains strong, indicating a possibility of a rebound. However, overall, the daily level bottoming process is not yet complete, and the short-term strategy remains focused on short positions.

Some analysts believe that Bitcoin is likely to set a new historical high in the future, with the new high expected to be between 77,000 and 80,000 points. Although there are significant bullish and bearish divergences in the current market, if a large bullish candlestick appears, the market will be unstoppable. Of course, this prediction also carries certain risks, as market trends are full of uncertainties.

Regarding Ethereum (ETH), some viewpoints suggest that its market capitalization may drop to one-tenth of Bitcoin in the coming years. Historically, other previously high-ranking cryptocurrencies like XRP and BCH saw their market capitalizations significantly shrink after experiencing bear markets, failing to return to previous peaks. Therefore, ETH may also face a similar situation, especially in this cycle where many investors are blindly optimistic about ETH's performance.

The behavior of institutional investors is worth noting; whether Bitcoin's price rises or falls, they continue to buy in. This means that ordinary investors can follow the lead of institutions without overly worrying about short-term fluctuations. Many people anticipate the arrival of a major upward wave after the U.S. elections, at which point Bitcoin may experience greater gains.

#美国大选前行情观察 #加密货币市场持续震荡 #战火将如何牵动加密市场？ #比特币挖矿难度创历史新高 #牛市赛道是那条？