Recent Trends and Dynamics in the Cryptocurrency Market

On Sunday, Bitcoin and Ethereum exhibited a sideways trend, and the market appeared calm on the surface, but there were undercurrents beneath. Most altcoins not only failed to rise but continued to decline, which is perplexing. This phenomenon seems to indicate a weakening of bullish forces. Especially for some older altcoins, after reaching a peak and forming a double top yesterday, they showed weakness, almost as if signaling a top prematurely. Although top formations usually do not happen all at once, the significant reduction in upward momentum has sounded the alarm. Given the large fluctuations in capital at the end of the year and the beginning of the next, from a risk-return perspective, the current risks have gradually surpassed potential returns. My personal judgment is that a significant correction may begin in late December, and I suggest that investors interested in entering the market should wait for a better opportunity; currently, only short-term operations are advisable, with quick entries and exits.

Key Dynamics Summary:

1. Bitcoin: BTC price fell into a fluctuation range after a spike, with reduced volatility, making it difficult to find profit opportunities in the short term.

2. Ethereum: ETH shows signs of a pullback on the 1-hour chart, while the 4-hour chart maintains a fluctuating pattern, with the long and short sides stuck in a stalemate.

3. Trump-related Coins: Doge, Xrb, People, and other coins related to Trump are expected to remain market hotspots and be repeatedly hyped before his anticipated return.

4. XRP Whale Movements: When XRP dropped to $2.22, whales stepped in to buy over 120 million coins, establishing strong support at this price level. If it falls below this point, a downward trend may be confirmed.

5. Trump's Son Speech: On December 9-10, Trump's son will appear at the Abu Dhabi Bitcoin Conference and deliver a speech. This news is expected to bring short-term positive stimuli to the cryptocurrency market.

6. Altcoin Seasonal Outlook: From this month until March next year, it is highly likely to be an active period for altcoins, with an initial estimate of about 90 days. The current consolidation after the weekly rise may be accumulating energy for further upward movement.

7. Saylor's Proposal Impact: Michael Saylor proposed that the U.S. sell its gold reserves to buy Bitcoin. If this idea gains market attention, it could become an important speculative theme in the cryptocurrency market next year, warranting continuous tracking and attention.