Firmly watch the bull!
The current market situation is a normal correction. The "1011" cleaning contract is mainly focused on cleaning the spot market at this stage. After a significant drop, the market is experiencing panic and trapped positions. We are currently in the washout phase, but the expected magnitude is limited, and the opportunity to buy the dip after a deep drop is hard to come by.
Although the technical indicators show a bearish signal, indicators are often lagging. I still hold an overall bullish view.
$ sp ur do The most potential meme
Macroeconomic factors continue to be favorable:
· The interest rate cuts in October and December are basically confirmed;
· Altcoin ETFs are expected to be launched before the end of the year;
· The political landscape is stabilizing, and the capital market does not have a fundamental basis for a prolonged bear market;
· The overall health of the current coin price is good, with limited bubbles, leaving room for future price increases.
This bull market, led by ETFs, has BlackRock as a key driver.
From a low point to previous highs, BlackRock has been continuously net buying, with a pace far exceeding other institutions. Even in the recent weak market, its daily buying volume often reaches thousands of BTC and has begun to position in ETH. It should be noted that BlackRock's profit model does not rely on short-term price differences but on collecting management fees through custodial scale. The bull market attracts capital and expands scale, which aligns with its fundamental interests. Short-term fluctuations are inevitable, but the space for deep corrections is limited.
Therefore, although the weekly chart shows RSI and MACD divergence, indicating a risk of correction, combined with concentrated institutional holdings and a favorable macro environment, Bitcoin does not have a foundation for turning bearish.
Regarding the "four-year cycle theory," this round of market has repeatedly broken historical patterns: reaching new highs before halving, multiple seasonal trends missing, and the performance in September and October contrasting with historical trends... Cycles cannot be simply applied; we should pay more attention to the current changes in fundamentals and capital structure.
The bull market is still here; stay patient.
Focus on $ETH s pu rd o
Welcome rational exchanges of different viewpoints.
