BTC and ETH have begun to adjust
Community friends, today is January 13, 2025, Monday. Happy Monday, everyone~
Today, the market is still adjusting, and there is one week left until Trump takes office. By then, the market should give a little face, but the biggest problem right now is that there are several negative news events this week, and each negative news event could lead to a market crash.
The biggest problem last Friday was that the economic data was too good. If the economic data is too good, the Federal Reserve may rush to cut interest rates or even raise them. If the Federal Reserve feels the economy is overheating, then they might cool it down.
Since yesterday, a large whale has been selling ETH. He built his position at an average cost of around $3,036 and may feel that the bull market has gone halfway, so he sold off his ETH. His selling behavior caused ETH to break through the support level of 3200 points in the afternoon, and the chart for ETH looks quite grim now.
But don't worry, BTC and ETH, these mainstream coins, will definitely rise. ETH hasn't even broken the previous bull market's new high.