Crypto飞哥
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I still feel that the current market is more like a 'bearish pullback'. Don't expect the market to crash directly to the bottom; it's more likely to first have a wave of what seems like a hopeful rise, tricking people in, and then harvesting at the high point.
Taking ETH as an example, many people previously sold off in the range of 1,900 to 1,700. If this market really intends to drop to a low like 1,200, big funds won't just crash it down directly. They might first pull it up, making you think 'the opportunity has come', and once you rush in to buy, they will slowly short it at the top, making the harvest more thorough and efficient.
Why do I think it hasn't bottomed out yet? It's simple; there are still many retail investors confidently bottom-fishing. The real bottom is the state where most people don’t dare to touch, don’t dare to buy, or are even numb. As long as there are people in the market fantasizing about making money from a rebound, it indicates that we are still some way from the true bottom.
In the short term, the market may continue to rebound; ETH might rise to around 1,750 to 2,000. BTC could rebound to around 90,000, but make it clear: this is the 'top' of the rebound, not the start of a new bull market. Nevertheless, I still hold a 50% position. I still believe that even if the market drops to 70,000, the bull market is not over; it's merely the extent of BTC's adjustment.
The true big bottom of this round of adjustments will have to wait for Bitcoin to complete its adjustment. Currently, BTC is still hovering around 84,000. If it later drops to the range of 74,000 or even 64,000, that will be when we consider entering altcoins.
Remember one thing: most retail investors do not hold BTC; they are holding altcoins like ETH and Sol. Only when BTC adjusts properly and market sentiment cools completely will altcoins have a real opportunity for a low entry.
Taking ETH as an example, many people previously sold off in the range of 1,900 to 1,700. If this market really intends to drop to a low like 1,200, big funds won't just crash it down directly. They might first pull it up, making you think 'the opportunity has come', and once you rush in to buy, they will slowly short it at the top, making the harvest more thorough and efficient.
Why do I think it hasn't bottomed out yet? It's simple; there are still many retail investors confidently bottom-fishing. The real bottom is the state where most people don’t dare to touch, don’t dare to buy, or are even numb. As long as there are people in the market fantasizing about making money from a rebound, it indicates that we are still some way from the true bottom.
In the short term, the market may continue to rebound; ETH might rise to around 1,750 to 2,000. BTC could rebound to around 90,000, but make it clear: this is the 'top' of the rebound, not the start of a new bull market. Nevertheless, I still hold a 50% position. I still believe that even if the market drops to 70,000, the bull market is not over; it's merely the extent of BTC's adjustment.
The true big bottom of this round of adjustments will have to wait for Bitcoin to complete its adjustment. Currently, BTC is still hovering around 84,000. If it later drops to the range of 74,000 or even 64,000, that will be when we consider entering altcoins.
Remember one thing: most retail investors do not hold BTC; they are holding altcoins like ETH and Sol. Only when BTC adjusts properly and market sentiment cools completely will altcoins have a real opportunity for a low entry.
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