This time, altcoins didn't drop much, indicating that the altcoin season is still on the way. BTC saw an inflow of 760 million yesterday, and ETH saw an inflow of 420 million. The strong buying power, coupled with some institutions like Meituan offloading at high levels, and 3628 BTC being transferred by the 'door dog', suggest that as long as Bitcoin maintains its fluctuations, altcoins still have the opportunity to continue rotating upwards. After all, funds are starting to flow into Ethereum, looking forward to the Ethereum to Bitcoin exchange rate continuing to strengthen!
Summary of the afternoon highlights:
1: Bitcoin has seen its first 10% drop; there’s no need to worry too much before the 10th. The daily K line has a long lower shadow, and the price has currently returned to the daily level of consolidation.
2: Ethereum is challenging the long-term resistance line, and it is highly likely to break through the 4000 mark.
3: The net inflow of funds into Ethereum ETFs is slowly catching up with BTC; funds are starting to have a positive outlook on Ethereum. A strong Ethereum means a strong altcoin market.
4: On December 10th, Microsoft will vote on whether to buy Bitcoin as a company reserve asset. If approved, it will be a major event for the global adoption of Bitcoin, a significant positive indicator, with the 10th being a turning point.
5: Two applications for SOL's ETF have been rejected, but it’s okay; it will eventually be approved.
6: A decline does not mean the end of a bull market; the rapid recovery aims to clear leverage.
7: It is still recommended to focus on low long positions; only engage with the leading tokens in various sectors and avoid shorting.
8: UNI has officially announced that the second layer, Unichain, will launch its mainnet on December 18th; positions can be accumulated in batches on the 15th and 14th, with a defense at 13.
9: Core will launch the Coretoshi NFT, which will begin minting on December 12th on OKX.
10: BNB Chain will initiate an airdrop interaction on December 12th, joining the meme coin airdrop event, which is a positive for Cake.
