Brothers, today this situation has truly made people's mental state explode.
BTC hasn't dropped below 100,000 yet, and the entire market is about to be smashed down.
Especially altcoins, it's like a collective plunge. Ethereum has even hit its largest single-day drop in recent months, and now the price is almost touching the 1011 spike area. To be honest, the speed of this decline has even left me a bit breathless.
I often say a phrase: "What the cryptocurrency market fears the most is not the decline, but the rapid drop." Because this kind of quick plummet often indicates that market confidence is collapsing.
Market key point: hasn't dropped below 90,000, but it's already looking pessimistic.
Especially recently, more people are asking if we are already in a bear market?
My view is: as long as the big coin doesn't drop below 90,000, it cannot be considered a technical bear market.
However, structurally speaking, market sentiment has begun to 'turn bearish', especially with the recent crash of altcoins, which indeed raises concerns about whether there will be a continuation of the bull market.
So, at this position, don't bet heavily on a rebound. The cost-effectiveness is too low, and the certainty is also not high. Going to catch the bottom now is not called catching the bottom, it’s called 'catching flying knives'.
Funds are withdrawing, the alpha myth is breaking, this round of the bull market is actually driven by the Binance series alpha, but look at who is suffering the most today? It is these alpha projects—Binance Life, Giggle Education, each one worse than the other, to the point that even their mothers wouldn't recognize them.
This indicates that speculative funds are accelerating their exit. The smart money has already begun to withdraw, leaving retail investors to comfort each other.
I have to emphasize again: just because the price has dropped significantly doesn't mean it's cheap. Altcoins do not have a 'low point', only lower points. I hope newcomers can engrave this in their minds.
Those holding coins are suffering, and the brothers in altcoins are surely feeling worse.
But there’s nothing we can do; this wave is indeed a very thorough pullback in the market.
Now the altcoins have fallen back to the spike price level.
The big coin is still above 100,000, which can be considered the last lifeline of the market.
If there really is a rebound next,
it is more likely to be an 'institutional sell-off rebound', rather than a new takeoff.
At that time, remember to reduce your position with the trend, don’t be too greedy.
Finally, I want to say a few heartfelt words.
After going through so many rounds of bull and bear markets, I increasingly believe in a saying:
"The market will never reward the impulsive."
At this stage, preserving capital is much more important than making more money.
Don't let emotions take over you,
No matter how bad the market is, stay calm.
As long as the green mountains remain, there’s no fear of not having U to spend.
The market will have a rebound, but the pace of the bull market may really be slowing down.
What we need to do next is to control risks and wait for signals with light positions.
