This is the sadness of altcoins now: they can only follow behind the $BTC and $ETH .
Basically, except for those coins that are truly controlled by strong whales, 99% of altcoins are just shadow trades of BTC and ETH. They rise when the market rises, and drop harder when it falls; independent markets? That is a luxury.
In the current market structure, for altcoins to have independent markets, they need either a super hot narrative or for the whales to have absolute control. Otherwise, they are destined to be led by the overall market.
So I always say, trading altcoins is like playing the beta amplifier of the overall market; don’t expect any alpha returns.
The trend of KITE is indeed very typical. No matter how good the fundamentals are, in the short term, it can't withstand market emotions.
The AI infrastructure is indeed a hot topic. But right now, the entire AI sector is adjusting. Funds are flowing out.
It is indeed oversold. But it’s hard to say how much it can rebound. At this position, I think we still need to watch the overall market's face.
The problem with AI projects is that the speculation cycles are too obvious. They go up crazily when they rise, and are just as decisive when they fall. Although KITE has community support, once retail sentiment changes, the fundamentals won’t matter in the short term.
I think such projects are suitable for building positions in batches. Don’t go all in at once. Wait for the market sentiment to stabilize before making further moves.
