Mainstream Currency Trend Analysis

Bitcoin witnessed a historical new high this morning, surging above 110,000. Next, it is expected that Bitcoin will consolidate at a high level, giving Ethereum and altcoins some time to catch up in price. This is necessary to justify the surge of Bitcoin to its historical new high. We will then wait for the hype to reach a peak before harvesting. After this round, we need to start reducing our spot positions in batches to secure our profits.

If Ethereum has a healthy trend, after Bitcoin consolidates at a high level with reduced volume, some funds will be withdrawn to support the price increase of Ethereum and altcoins, which will help drive the altcoin season's bull market. Only then can the main players attract more retail investors to enter the market. Therefore, as long as Bitcoin does not experience a rapid panic sell-off, the price increase of Ethereum and altcoins is inevitable. Stay tuned.