After the election of Donald Trump, the world of cryptocurrencies boomed with optimism, driven by hopes for increased regulatory transparency and innovation. Australian analyst Jason Piggino highlighted broader macroeconomic trends, noting that major indexes such as the S&P 500 are hitting new record highs. Pizzino noted that Bitcoin is entering an accumulation phase that follows or precedes historic highs and could show further bullish momentum in the coming weeks. He believes Solana, which has lagged Bitcoin since November, could be poised to reach USD 300 if it can break through the USD 260 resistance.
The virtual currency market has exploded with the election of Donald Trump as the next US president.
But the real catalyst is not just the Republican victory. It's an evolving digital asset landscape where many are hoping for improved regulatory clarity.
Expectations across the community are strong, with several coins reaching all-time highs in trading over the past few weeks.
However, the world still doesn't know how President Trump will actually crack down on the cryptocurrency industry, so it's mostly speculation at this point.
Based on this, coupled with the slight slowdown in the market over the past week, many are asking, “Where do we go from here?”
Australian analyst Jason Pizzino attempts to answer this in his latest market update, available on YouTube.
Related: Bitcoin's flash crash to $90,000 wipes out over $1 billion in leveraged positions
“Winter Curse'': Asset prices rise despite forecasts of recession
Mr. Pizzino begins his analysis by looking at broader macroeconomic trends that help assess the overall health of the economy.
He points out that major indexes such as the S&P 500, Nasdaq, and Dow Jones are all hitting all-time highs, and cryptocurrencies are not the only ones enjoying the bull market.
In his video, Pizzino refers to this market cycle as the “winter curse,” referring to expectations of a global economic downturn that will be offset by rising asset prices.
Despite the bullish momentum, Pizzino cautioned investors to expect volatility and a possible correction in the coming months, especially as many new traders tend to be spooked by short-term declines. There is.
Bitcoin in a Predictable Accumulation Phase: Bullish Momentum Building
Focusing specifically on Bitcoin, Pizzino identified certain technical indicators that have already occurred multiple times this year and that he believes will end in a Bitcoin breakout.
Since mid-November, BTC has been trading more or less sideways, otherwise known as the accumulation phase.
Historically, these cycles have predictably followed every time Bitcoin has reached a new all-time high. But interestingly, they also preceded Bitcoin's breakout.
This exact pattern occurs every time we breakout to a new all-time high. If you turn on weekly charts and swing indicators for each of these cumulative periods, you'll get some pretty significant breakouts.
Jason Pigino
Pizzino also noted the declining dominance of USD stablecoins, particularly USDT. This means investors are less likely to sit on the sidelines and put their cash into altcoins and BTC.
Solana faces record resistance, potential breakout awaits
The Australian analyst also cited Solana, which has endured relatively poor performance, falling 10% in the past week.
Pizzino points out that Solana has yet to reach the same heights as Bitcoin in the current cycle.
Solana hit its highest closing price of the week, but its closing price did not exceed its previous high…
Jason Pigino
In the video, Jason Pizzino said that if Solana can close above its all-time high, the coin will finally break out and give the market enough momentum to potentially push the price above US$300 (AU$465). ), I believe there is a possibility of breaking through.
But he stressed it could be “just a few weeks” before we get there, especially as much of the market continues to take profits ahead of the Christmas period.
