Yesterday, news broke that Trump would be tried on January 10, causing a plunge in both the US stock market and the cryptocurrency market. Additionally, it is highly likely that there will be no interest rate cuts in January.

Bitcoin's daily chart showed a significant bearish engulfing pattern and fell below the support levels of the 5-day, 10-day, and 30-day moving averages. From a technical perspective, after a period of sideways consolidation, there may be further declines.

At this time, it's best to keep spot positions as low as possible, waiting for an oversold situation, and when the time comes to catch the rebound, prioritize Bitcoin and other strong cryptocurrencies.

The altcoin season has turned into an altcoin sacrifice, leaving only Bitcoin and a few quality leaders.