Overall market situation

1, market volatility remains high
The recent market fluctuations have been mainly dominated by macroeconomic factors, especially the continued hawkish stance of the Fed's policy, exacerbating market concerns about risk assets. The fall in Bitcoin prices has undermined market confidence. In addition, the recent massive liquidation in the market indicates that high-leverage trading still dominates the market.
2, Meme Coin ebbing
The prices of meme coins such as Pepe, Bonk, and Floki have significantly declined. This phenomenon indicates that the market is gradually shifting towards high-quality assets at the end of the year, with funds flowing into mainstream coins, and the meme coin bubble is deflating.
3, Bitcoin (BTC)
Current Performance: Although the price of Bitcoin has recently experienced some corrections, it still maintains its overall dominant position this year, and the market's safe-haven sentiment has made its position even more prominent.
Support and resistance levels: The support level is around $88,000, and the short-term resistance level is near $96,000. Breaking the resistance level will require new capital inflows and macro bullish news.
Ethereum (ETH),
Current performance: Ethereum fluctuates around $2,500. As Ethereum Layer-2 solutions (such as Arbitrum, Optimism) continue to mature, the demand for ETH as network fuel increases.
Potential factors: Ethereum staking volume remains high, indicating investor confidence in the Ethereum 2.0 ecosystem.
Chainlink (LINK)
Current performance: LINK has recently shown strong performance, benefiting from its core position in decentralized finance (DeFi) and the gradual application of its CCIP (Cross-Chain Interoperability Protocol).
Potential factors: As a provider of technology that bridges DeFi and traditional finance, its expanding application scope will continue to support its price.
Solana (SOL)
Current performance: SOL has rebounded from its previous slump and shown strong technical recovery ability, with its NFT ecosystem remaining active.
Challenges and Opportunities: The shadow cast by the FTX incident is gradually diminishing, but the user growth of its ecosystem requires a more explicit catalyst.
Market Future Outlook
4, short-term trend
Against the backdrop of increased macro uncertainty, the short-term market may continue to fluctuate and liquidity may further tighten. However, there may be a technical rebound before the end of the year, and investors can pay attention to market hotspots and strong currencies.
5, Long-Term Trend
Institutional acceleration: With the implementation of regulations, more institutions may participate in the market, but this may reduce the high-yield characteristics of the market.
Emerging field rising: The application scenarios of AI combined with blockchain and ZK (Zero-Knowledge Proof) technology are becoming new focuses. #2024 Gate.io 年度账单 #与动态一起迎圣诞 #BTC震荡下跌，后续走势如何看待？ BSV