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Today, the overall cryptocurrency market was under pressure, with Bitcoin (BTC) trading prices falling below approximately $92000, dragged down by PayFi and DeFi sectors. Within 24 hours, the total amount of positions liquidated reached $245 million (with long positions liquidated by $164 million). Nevertheless, institutional funds flowing into Solana spot ETF reached $4.59 million, indicating that some funds are still being deployed.
1. BTC rebound blocked: BTC rebounded above $94000 within the day (up 3.28%), but then fell back to around $92000. BTC experienced a cumulative drop of over $18000 in November, marking the largest monthly dollar loss since May 2021.
2. ETH upgrade benefits: Ethereum completes Fusaka upgrade, Layer 2 TVL surged 18% this week, and the price exceeded $3300. Whales aggressively purchased 120000 ETH, while BitMine increased its holdings of ETH worth $150 million.
3. BTC relies more on macro and institutional factors, while ETH benefits from ecological upgrading and tends to rebound in the short term (seasonal+oversold). However, if the FOMC becomes hawkish, the volatility will be amplified. Long term bullish, pay attention to the data on December 10th. If BTC stays at 86k and ETH stays at 2.8k, the probability of a strong rebound in December is high. Maintain position management.
The recent trend of the market is basically in line with our expectations, and the control at the point level is also quite reasonable;
Tonight we will talk about the trend and layout of the market, teach indicators, deviate from techniques, follow the live broadcast room, take you through bull and bear markets, welcome to interact.
Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.