Bitcoin correction is imminent! Analyzing the critical point at $98,000, which cryptocurrencies need to be most cautious about?
In the current cryptocurrency market, BTC is at a critical juncture, and market sentiment is changing rapidly. The support level at $98,000 has clearly become the focal point of contention between bulls and bears. If Bitcoin fails to hold this level, the liquidation of long positions could trigger a flow of $1.214 billion, making short-term market fluctuations unavoidable. However, if it successfully breaks through $100,000, it would liquidate $136 million in short positions, potentially reinvigorating the bulls.
As a witness to the market, I see a high probability of Bitcoin dipping in the near term, with the first support level expected at $97,000, and deeper corrections possibly reaching $93,000. But I firmly believe that this adjustment will not shake the long-term trend of the market; spot holdings can still be held with peace of mind as we patiently await the arrival of the next wave of market movement.
Cryptocurrencies to be cautious about:
In light of the expected Bitcoin correction, there are some cryptocurrencies that require extra attention:
1. High-leverage tokens: such as 02025229144, 23174999039, these tokens have high sensitivity to capital, and corrections could lead to amplified price fluctuations.
2. Mainstream coins strongly linked to BTC: ETH and BNB are important market indicators and may adjust in sync with Bitcoin in the short term.
3. High-heat meme tokens: Recently popular tokens like 80754552447, BABYDOGE, show clear emotion-driven characteristics, and volatility may increase; caution is advised.
86112471837
Response strategies:
Spot investors: Should focus on fundamentally solid coins like ETH and DOT, gradually building positions near support levels.
75099396449
Short-term traders: Pay attention to the strength of support at $97,000 and $93,000; if it breaks, proceed with caution; if it holds, it may present a good opportunity for a short-term rebound.
Light contract players: Be sure to set strict stop-loss points and avoid rash actions in a high-leverage environment.
Every market correction is a good opportunity for reshuffling and positioning. Only by maintaining calmness and insight can one respond to the market's sharp fluctuations with composure.
If you agree with my viewpoint, remember to follow me and interpret the market together to seize the next wealth opportunity! The future belongs to the rational and courageous; let us move forward hand in hand on this journey!