Many sectors have experienced similar depths of consolidation, such as Ethereum, SOL, MEME, and AI, which have all undergone prolonged adjustments. Take the relatively strong Pepe, for instance, which retraced 72% from its peak on February 3rd. ETH dropped to a low of 2125.01 on February 3rd, a 49% decline from its highest point. SOL continued to drop below 160.88 on February 9th, retracing 45%. Additionally, BGB fell from its peak to 4.515, marking a 48% decline.

Currently, the biggest concern is that Bitcoin continues to fall, possibly even breaking below 89,000, which would lead to a chaotic drop for others... The market is currently being manipulated by Bitcoin. In the past, the final drop often involved crashing Bitcoin to flush out panic sellers from altcoins, causing them to cut losses and leave the market. However, the window of opportunity for bears is closing. If there are significant drops in March, it would mean consecutive declines for 3-4 months. Who would still be playing in this market? It would truly be a disaster, leaving only insane increases afterward.

Therefore, if there are further significant drops, it is advisable to enter the market in batches cautiously. If it manages to stop the decline and reverse, when Bitcoin approaches previous highs, consider taking profits in batches to secure some gains and avoid a repeat of the back-and-forth consolidation seen from March to August last year.

Is Bitcoin going up or down?