📉 Crypto Market Dip: What Should Traders Do Now? (June 2024)
The crypto market is seeing a pullback after recent highs "Bitcoin" hovering near $65K, "Ethereum" testing $3.5K, and altcoins down 20-30%. Is this a crash? No. It’s a healthy correction in a bull market. Here’s how to navigate it:
1️⃣ Spot Traders: Accumulate Strategically:
1. BTC/ETH: Buy strong support levels ($60K BTC / $3.2K ETH).
2.Altcoins: Focus on high-conviction projects with strong fundamentals (Solana, Toncoin). Avoid meme coins unless you’re scalping.
3.DCA: If unsure, dollar-cost average into dips.
2️⃣ Futures Traders: Manage Risk Tightly
1.Short-term: Trade ranges (BTC $64K–$68K) with tight stops.
2.Avoid overleveraging: Volatility = liquidation risks. Stick to 2-5x.
3.Watch macro triggers: Fed rate decisions, ETF inflows/outflows.
3️⃣ Altcoin Holders: Rebalance Wisely
1.Cut weak hands: If a coin is -50%+ and lacks catalysts, consider swapping to BTC/ETH.
2.Keep an eye on narratives: AI, RWA, and Layer 2 tokens may rebound faster.
4️⃣ Prepare for the Next Move
1.Bullish scenario: BTC holds $60K → consolidation before new ATH.
2.Bearish scenario: Break below $60K → possible drop to $55K (buy zone).
5️⃣ Stay Calm & Follow the Data
1.Track BTC dominance (rising? Altcoins may bleed more).
2.Monitor exchange reserves (large withdrawals = accumulation).
3.Follow Fed policy (crypto reacts to liquidity expectations).
Final Thought: Corrections shake out weak hands. Stick to your plan, manage risk, and avoid emotional trades. The bull run isn’t over yet!
