Yesterday, the altcoin market experienced a bloodbath. Although the downturn seemed sudden, it was actually in line with a carefully planned 'three-step killing move' by the main funds. Looking back at the market rhythm before May - the cycle of decline, pullback, and further decline - the bears had already completed their chip collection. When the favorable policy on May 29 suddenly ignited the bulls' enthusiasm and retail investors rushed to chase the rise, the main funds switched to 'strangling mode', and this wave of sharp decline is essentially a typical 'inducing long positions - smashing the market' script.
Currently, the market hides three critical lines of life and death:
Bitcoin's $100,000 threshold: the last psychological defense line for bulls. If effectively broken, the market may experience panic selling. However, caution is needed as the main funds may act contrary - quickly breaking below and then pulling up to create a 'golden pit' to deceive bottom-fishing chips.
109,500 points resistance level: if the price struggles to rise after reaching this area, it will be a short-term escape point, not an entry signal for betting on a rebound.
Key Battle for ETH: Ethereum is currently pulling back into the previously dense transaction zone of 'support turning resistance'. Short-term traders must reduce their positions here, while long-term investors should pay attention to the ultimate pullback level at $2200, as this could present a good opportunity to build positions in batches.
The main funds are playing a big game: the current market shows a typical bearish structure of 'declining volume, rebounding with low volume', but it is important to note - if BTC consolidates around $97,000 and then breaks through, it may brew a real main rising wave. Remember: bear markets often have sharp spikes, and bull markets can see sudden drops; this is a critical moment to test trading discipline!
If you are still confused in the crypto space and don't know how to operate, click on my avatar to follow me! This bull market will see more hundred-fold coins explode; it's better to grasp than to guess.
