Track real-time hot topics in the currency circle, seize the best trading opportunities, today is January 18, 2025

Overnight, the three major U.S. stock indexes collectively closed higher, with the Nasdaq up 1.51%, the S&P 500 up 1.00%, and the Dow up 0.77%. The Nasdaq Golden Dragon China Index preliminarily closed up 3.1%, with a cumulative increase of about 6% this week. With only a few days left until the second presidential inauguration ceremony of Trump, who supports cryptocurrencies, Bitcoin seems to have returned to the track of record highs. Since last Sunday, Bitcoin has risen by about 12%, potentially achieving the largest weekly increase since the election week in November. The market is currently digesting the factors of Trump's inauguration and his optimistic attitude towards cryptocurrencies. Previously skeptical of cryptocurrencies, Trump plans to issue an executive order to elevate cryptocurrencies to a policy priority and allow industry insiders to have a voice in his government, with continued attention to the news.
Bitcoin's recent market has been soaring. Currently, the price has once again returned to the 105800 level and has been bullish all the way in recent thinking. The market trend is also in line with our expectations. Looking at the daily chart, the short-term candlestick trends are mostly presented with large bullish stretches. Although there are retracements in the short term, they are all absorbed by the upward movement. The bulls are currently very strong. Currently, a large bullish candle has directly broken through the recent high point of 100,000 area, indicating a possible extension of the uptrend. On the 4-hour chart, there is a clear upward trend. The market has been oscillating upward, basically not giving opportunities for bearish performance. Therefore, participating in line with the strong rhythm and continuing to go long on pullbacks is recommended.
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Ethereum is still showing a sense of decline, with reduced rebound strength, but overall it is in an upward trend. It tested the 3526 level overnight and fell back under pressure. The key focus is whether it can stabilize above the 3550 level. After breaking through, there is a high probability of starting a rally. For brothers who are confused during the altcoin season, please remember that both rises and falls are part of cryptocurrency trading: no one can escape the downturn, and when the market rises, they may also be absent. Do not liquidate all your holdings, but do not easily go all-in. Do not be afraid. This altcoin season requires an optimistic mindset and a certain amount of luck.