The unexpected performance of the A-shares, as well as events such as the conflict between South and North Korea, directly led to the accelerated flow of funds into the crypto market. There's no need to mention the A-shares in the past two days, as there have been a lot of analysis. South Korea is a major player in cryptos, with many people participating in crypto trades, so once a border conflict occurs, they will all think about buying cryptocurrencies at the first opportunity.

Is the bull here? Various positive factors in the market are stacking up, and Bitcoin is rising strongly!

Currently, BTC is approaching around 0.066 million, the consolidation around 60,000 is getting longer, and the momentum of the long positions is getting stronger. A new uptrend has already arrived, shorting is like being a dog!

Bitcoin continues to rebound from yesterday, but the coin price has not yet stabilized around 65,000.Support level.At this level, there will be supply emerging, which will once again test the strength of demand. Bitcoin only has a chance to break through and rise to the 68,000–70,000 resistance range if it can stabilize above 65,000. If this breakthrough can be achieved, then the probability of starting a new uptrend will be significant.

In 2016 and 2020, there were significant increases in the three weeks leading up to the elections. With 24 days left until the election, the current market is speculating about the election.

Looking back at the two U.S. elections in 2016 and 2020, Bitcoin started to rebound in the three weeks before the elections, rising all the way from $600 and $1100, respectively. Now, there are exactly three weeks left until the election on November 5, let's see if the market can replicate the script of the previous two bullish cycles.

Spot BTC ETF trading volume exceeded $2.1 billion; BlackRock's spot BTC ETF trading volume today exceeded $1.6 billion.

The increase in trading volume is proving that it is not only the Asian market, but also the European and American markets actively participating in the layout of cryptos.

Is it a scam or a bull market comeback?

The rise back above 66000 this time is very stable, and it is indeed higher than the recent high point.

And today, there was no situation like before where it rose and then retraced, it seems like only one push is needed to break through the previous 68,000 support level.

It is really uncertain whether it's a false breakout for BTC at the moment:

The key is to look at the turnover situation at the high levels. If there is a sharp increase in trading volume at the high levels, indicating a significant increase in turnover, and the price does not fall too much, it indicates stability, which helps to continue the uptrend. On the contrary, if it cannot withstand selling pressure turnover, indicating that the market is not stable enough, the breakthrough is 'false'.

If there are some extreme pullbacks in the short term, I would not be surprised at all:

There is too much bullish liquidity accumulated in the past two days... At the same price of 66000, compared to the total futures open positions on September 29, there is an additional $2.1 billion in futures open positions;

One largeCandlestickCausing the market to explode, BTC once again returns to the 66000 level, reaching the height of the end of September, but this market situation is different from before.

The altcoins have not returned to the same position as the highs at the end of September, but the market is very hot, with many calling for a bullish trend. Everyone's perception is different, and this rapid rise has not been considered. Always maintaining a cautious attitude towards the market, ETH has also not returned to the heights of over 2700 at the end of September. Most altcoins follow the leader ETH, so many altcoins have not returned to that level, with most altcoins rising yesterday, and even many altcoins are at the bottom.

Clarify your thoughts and analyze calmly:

Any short-term pullback in the future is an opportunity for everyone to get on board, follow the trend, but it is important to note that bitcoin made a false breakthrough before reaching 66500, so currently it is not advisable to chase after more, as there is still capital leaving from the previous high.

Although bitcoin has risen to around 66000 points, it is still important to maintain an objective and rational view of the market. Just because it returns to 66000 points does not mean it's a bull market, chasing after a rise after an increase is not advisable. Even if facing pressure, it is not wise to choose to chase after a rise and see a bull market, it is better to wait and see.

In terms of altcoins, influenced by the strong rise of bitcoin, the altcoin market has experienced a general increase. However, whether this upward trend can continue still depends on the trend of bitcoin.

The overall direction is still judged to be establishing a bottom and moving out of the bottom to begin an upward trend. However, after a rapid rise, there needs to be room for adjustment. The market has not yet entered a frenzy stage, so chasing after a rise should be done cautiously, and more operations should focus on positioning at low levels.