$ETH The market traded sideways for a whole day. Will it keep rising from here?

To be honest, Caibao is still cautious about the crypto market and certainly wouldn’t say that a bull market has begun. After the Democrats’ victory, there’s still uncertainty around America’s future crypto policies. Expectations of a rate hike in December are heating up, inflation is getting higher, and tomorrow’s nonfarm payroll data is another macroeconomic pressure point—one after another.

On-chain data today shows that some large investors and institutions have been gradually moving funds out. Money is leaving the market in search of safety. There are fewer and fewer positive catalysts, and if any bad news emerges, the market will only fall even harder.

More importantly, Trump’s room to maneuver will certainly be constrained by Congress. Whether he takes military action against Iran or pushes through related policies, he’ll need the Democrats’ approval for them to be implemented. The political expectations being priced in by the market are no longer as solid as they once were.

Looking at Ethereum’s daily chart, each high is lower than the last. Every time it approaches a resistance level, it gets knocked back down soon after. So Caibao thinks U.S. stocks will most likely rally toward 2440–2450 after opening tonight. That’s why we need to set take-profit targets for our long positions.

For a true bull market to arrive, people should at least see sustained buying pressure—not daily rallies that fade and repeated shakeouts.