With the sudden rise of Bitcoin yesterday, the enthusiasm of the market was ignited, and the arrival of a trend market will often last for at least a month. If yesterday is taken as the node, then this wave of rising market has just begun. Many people are still wondering whether this is a real rise or a trap. Judging from the current trend of Bitcoin, the bullish trend remains intact. After all, the oscillation range of 25,000~32,000, which has been adjusted for nearly 220 days, has been broken. The theoretical increase must be at least around 39,000 to show a downward trend, that is, at least an increase of US$7,000 from 32,000 (32,000-25,000), and the current highest is only around 35,000. Yesterday, a market news caused Bitcoin to retrace, and many copycats almost gave up all their gains. Bitcoin hit a minimum of 33,240.

At present, the news has a relatively large impact on the market fluctuations. At present, there have been two waves of retracement lows in Bitcoin. The first wave was around 32,500, and the second wave was yesterday’s retracement low of 33,200. It has entered an obvious triangle convergence area and is currently trying to break through. Once the breakthrough is established and no further retracement lows are created, a new round of opportunities for rising market conditions will come again. As mentioned above, the current trend of Bitcoin has not reached the first target position, and there is no need for a deep correction!

Judging from the halving time, it is the end of April next year. Many people believe that the current rise of Bitcoin is due to the news and the promotion of BlackRock ETF. Perhaps the internal reason is that Bitcoin is indeed going to rise. Remember that after the false news of the approval of BlackRock ETF caused a wave of surge, many well-known bloggers believed that after this wave of scams, Bitcoin could not set new highs again. As a result, many people missed the opportunity and did not get this wave of gains. The purpose of the dealer is to let most people miss the opportunity and then chase the highs. Therefore, if you still want the dealer to give you the opportunity to get on the bus in the short term, I am afraid it will be difficult. At least this year, I think we will not see Bitcoin below 30,000!

It rose in doubt and ended in madness. At present, many people are actually in a stage of doubt, thinking whether Bitcoin can really rise. This is actually a good phenomenon. When the market has been expecting that the bull market is really coming and Bitcoin is going to go to a higher position, perhaps it is the stage where we should take profits and leave. At present, it is obvious that we have not reached the stage of complete FOMO.

Ethereum: ETH broke through the upper edge of the rising flag and reached the median resistance, which is around 1800. However, as long as it does not close negative today, it is still possible to enter the market later. You can look at the beginning of 19 first. There is also the Cancun upgrade narrative. Whether it is postponed at the end of the year or not, there will be a wave of market, because it is at least 2 months in advance. If it is postponed at the end of the year, it will be upgraded at the beginning of next year. Therefore, this wave of ETH's rise needs this narrative to drive it.

From the huge amount of Ethereum exchange rate released in two consecutive days, it can be seen that the current bottom should have appeared. After a period of sideways consolidation, it should be time for Ethereum to explode!

Big events in the cryptocurrency world 23/10/25

• BlackRock’s iShares BTC ETF was removed last night but then re-added to the DTCC hours later.

• Tether (USDT) market cap hits new high of $84.3B.

• 1inch Fund sold 4,685 ETH, which it had bought at the bottom in October, at $1,823.

• $BAKE - BakerySwap announced the launch of topic.market, a FT copycat, on October 17.

• $CLV - Preparing to migrate its ecosystem to Binance Chain.

• $DYDX – dydx Chain v1.0 is officially released.

• $FTM - FantomSonic testnet launched, mainnet scheduled for spring 2024.

• $LINA – DWF purchased $LINA for $124.8 million.

• $MEME – Memeland will have a presale on Thursday.

• $NYM – Nym announced $300 million to support Web3 privacy projects.

• $PHB - Phoenix launched SkyNet, an upgraded version with GPU scaling support and two new AI models.

• $SCRT – Releases its 2024 roadmap this Thursday.

• $TON - TON Believers Fund locks up 1.3B TON tokens until October 2025, nearly 25% of the total supply.

• Coinbase submits final arguments in dismissal of SEC lawsuit. A decision could come tomorrow, or trial in Q1 2025.

• FTX is evaluating three bids to resume trading and will make a decision in mid-December.

• Apple invests $1 billion per year in generative AI.

Hot altcoins

1. The official Web3 Night of Fintech Week will be held in HK on November 2. The Web3 sectors worth paying attention to include: ENS, DOT, and ATA.

2. CYBER has a good depth. If CYBER can rise, the new coin sector will have a chance, but now the new coin sector is in a mess. Pay attention to the new coin sector: PENDLE and NTRN.

3. RUNE can be paid more attention to, and the weekly line has been restarted. And BNB - Celestia mainnet is expected to be launched on October 31, and the BNB Launchpad announcement may be released.

4. UNI has once again come to the low level, and the daily line is above the 20 line. It is now oscillating near the 20 line, so you can enter.

5. Upbit staking service now supports MATIC, a total of 5 types (eth, cosmos, ada, solana and matic)

6. PHB has completed its breakthrough and retracement, so you can enter the market and continue to be bullish.

7. FRAX V3 will be launched soon. FXS also has a repurchase plan and will repurchase at prices of 5 and 4.

8. FTX is negotiating with three bidders to restart its platform and will make a decision before mid-December to implement the withdrawal and compensation in advance.

9. ARK Invest and 21Shares' spot Bitcoin ETF has been listed on the DTCC website, and the news is true.

The last wave of opportunities this year has arrived, don’t miss it! Bear markets often last only one or two months, and if you miss it, you may have to wait a long time. Currently, most varieties are at an absolute low, so don’t miss it, don’t miss it, just do it!

Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.