1️⃣ Market: Bitcoin has been unable to break through 110,000 since it climbed above 100,000, repeatedly returning to over 90,000 and trying to surge again but still unable to break 110,000. This time, it has also been affected by news of the U.S. stock market crash, dropping thoroughly to over 80,000, currently consolidating at this level.

2️⃣ Judgment: Last year on different social platforms, I mentioned that this round of explosive bull market would definitely come, but before that, there would certainly be a deep correction. I felt it was above 70,000 before, currently above 80,000, and it is likely to dip a little further.

3️⃣ Theory 1: The above thoughts are based on a fact that Bitcoin has risen from over 10,000 at the end of 2023 to over 100,000, with a total market cap close to 21 trillion. One can imagine how much capital is needed for this; this is still under the beneficial influence of the Bitcoin ETF approval and subsequent leveraged buying by MicroStrategy. Currently, the influx of traditional financial funds expected from the ETF approval has not been realized quickly; this requires a process. Therefore, the current situation for Bitcoin is temporarily weak, and a decline is inevitable!

4️⃣ Theory 2: During this upward surge, the operators behind the scenes likely do not have many chips left to push the price up. The current drop will inevitably lead to some early low-cost profit-taking, and seeing the market trend, they will sell to lock in profits, followed by retail investors panicking and selling off. The operators will continue to push down while collecting bloodied low-priced chips and taking some profits from short positions to prepare for the upcoming bull charge.

5️⃣ Summary: Next, it is highly likely that we will enter another sideways period, perhaps with a slight further decline. As the saying goes, 'the longer the horizontal line, the higher the vertical line'; the longer the low-level sideways movement lasts, the higher the price will be when it finally surges. Therefore, hold your spot well, don't panic, eat when you should, drink when you should. If you are very anxious, it indicates that your position in the cryptocurrency market is too heavy, and your investment allocation must be unreasonable. Let’s focus on the long term!

6️⃣ Supplement: Friends who are fully invested in altcoins, as long as you hold mainstream public chain coins and major exchange tokens, there is no need to panic; the prices will come back!

#BTC #Altcoin #BullMarket