Mainnet Launch

BULLISH: METAPLANET ACQUIRES ANOTHER 1,009 BITCOIN WORTH $110 MILLION. THEIR TOTAL HOLDINGS NOW STAND AT 20,000 $BTC VALUED AT $2.15 BILLION.

#PI# P is really a coin that can change your fate. As long as you buy P and keep buying the dip, it will make you poorer.

With the announcement of the interest rate cut in September, the market's focus has shifted to the price movement of Bitcoin. Recently, Bitcoin's monthly and weekly closing performances have been poor, raising concerns among investors. The weekly chart has shown a death cross accompanied by a divergence phenomenon, marking the first occurrence of such a clear technical signal in this round of market. Historical experience indicates that bull markets typically end around November, but whether the long-term impact of ETFs can change this pattern remains to be seen. This will depend on the specific implementation of relevant policies and the expansion of Bitcoin's application in new areas. From a technical perspective, the weekly chart may trend towards the 95000 points, while the monthly chart is expected to return to the midline. The bottom-fishing operations at the beginning of this month still carry certain risks, showing an overall long-term downward trend. The current market may be in the process of the fifth wave of decline, with the 106000-105000 points likely to provide some support. It is worth noting that after the fifth wave of decline usually comes a rebound, offering investors new entry opportunities. Although the market may face adjustments in the short term, the long-term development prospects of Bitcoin are still worth following. Investors need to closely monitor macroeconomic data, changes in regulatory policies, and the progress of Bitcoin's application across various industries to make more informed investment decisions. In this uncertain market, maintaining rationality and patience is crucial.