* IT CAN CRASH EVEN MORE DUE TO UPCOMING EVENTS BELOW:
1: FED MEETING (DAY 1). ON JAN 28.
2: FED MEETING (DAY 2). ON JAN 29.
3: GDP ADVANCE ESTIMATE. ON JAN 30.
* What Happened Today???
Bitcoin’s Price Struggle:
Bitcoin, the largest cryptocurrency, has dropped over 5% and is now trading at around $99,969. It briefly fell to $99,902 in the past day. However, to prevent further price drops, the $100,000 mark serves as a critical support level. Losing this level could result in even more substantial losses.
On the other hand, if Bitcoin recovers and rises above $105,000, it could regain some bullish momentum.
Altcoins Follow the Decline
Altcoins are also facing sharp losses. Ethereum (ETH), XRP, and Solana (SOL) have dropped by 8-10%. However, meme coins like DOGE and SHIB have fallen by 8% and 7%, respectively. PEPE and TRUMP tokens saw even larger losses of nearly 13%.
* Lessons and Precautions:
For SPOT Traders: You should not panic and never sell your coins, we have seen many dumps before but the market recovers stronger, every dump is an opportunity to buy more at even cheaper price, you will only loose if you sell your coins.
For Future Traders: Use very Low margin and low leverage, Staying away from the market these three days will be better for you, because you will see big moves in these three days and you can be liquidated easily if you use big margin and leverage, and never trade without a stop loss.
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#MarketCrash #MarketPullback #CryptoCrash #CryptoPullBack #Crash
