$BTC

BTC has surged, but altcoins led by Ethereum have not risen much, making people increasingly impatient. I mentioned before that the market might need to dip one more time, and indeed, Ethereum just hit a new high before turning down, completely in line with expectations.

This market cycle is quite unusual; Bitcoin is rising alone while altcoins remain stagnant at the bottom. If you're still using the mindset from the last bull market, it must be quite uncomfortable right now.

The major players are actually suppressing altcoins, forcing retail investors to give up their positions. Bitcoin's dominance is already high; they can pull it whenever they want, but it needs to coordinate with the altcoin rhythm. So overall, this wave of the market cannot go into a crazy surge.

For example, on April 1st, Bitcoin was around 85,000; I suggested reducing some positions and waiting for a new low to buy back. As a result, on April 7th, a new low was indeed broken. Our strategy at that time was very clear: directly buy the dip without fear.

I believe the market will take another dip and then quickly rebound again. Because if it doesn't rise, it won't trigger the 'fear of missing out' emotions, which would prevent outside funds from entering.

Focus on the 'Fear and Greed Index'; when it approaches 75, FOMO may truly explode.

Currently, altcoins are underperforming; on one hand, Ethereum's contracts are heavily suppressing prices, and on the other hand, there are still too many high-leverage funds that haven't been cleared. The market needs to be cleaned up first before there is hope for a restart. Around May 7th is a key time point; if it can rally, there might be a noticeable adjustment afterward.

Technically, the higher Bitcoin rises, the weaker the momentum becomes; there are already signs of a top, and a correction could happen at any time.

To summarize my views:

• Short-term: There will be another dip followed by a rebound opportunity;

• Medium-term: Pay attention to daily level corrections;