Is Bitcoin about to crash? Huge pump: Will Pnut surge as it goes live on CB?
After the U.S. released the CPI data for November, the probability of the Federal Reserve cutting interest rates by 25 basis points in December has reached as high as 98.6%. If there is another rate cut this month, it will undoubtedly increase market liquidity. This is bullish for the crypto market, and there is a high probability that both mainstream and altcoins will have significant room for growth. Brothers, the toughest part now is how to explain to family members that Bitcoin rose from 15,000 to 100,000, yet you didn’t make any money.
In the early hours, Bitcoin fell along with U.S. stocks, peaking at 102,500 before retreating below 100,000. 102,000 is a strong resistance level that needs a strong push to break through to stabilize.
1. The market has followed yesterday's judgment and has formed a small degree of upward momentum;
2. Staying above 97,400-98,400 is considered strong; if this is the first wave, the subsequent rise will be more violent than this wave;
3. I personally believe that Bitcoin does not need a violent surge; a violent surge is too extreme, making altcoins afraid to rise. It only needs to move up a little step by step, giving altcoins an opportunity for distribution;
4. Those who say it's topped can go take a look at the market and see what the altcoins' shapes and structures are like; I don’t believe that the market can distribute on such a formation.
On the macro side: I haven't seen any particularly noteworthy key points that could cause changes.
