Bitcoin 'crashed' today, even the giant whales who planned to make a tenfold profit from 100,000 had to cut losses.
This is a good sign.
One should know that even if there is an altcoin season, it will basically occur at the tail end of a bull market.
The most turbulent altcoin bull market in 2021 occurred during the rebound process after Bitcoin crashed from 64,000 to 29,000.
This round has a new characteristic, represented by pumpfun, where the primary market is also sucking blood, occupying a large amount of liquidity.
Why doesn't Bitcoin die? Without a bloodbath in Bitcoin, altcoins struggle to surge.
As the market cap of Bitcoin rises, more and more liquidity will be locked up; only a sharp crash can clear the leverage and release liquidity, allowing altcoins to potentially receive a liquidity boost for a massive surge.
In this bull market, institutional money has mostly flowed into Bitcoin, and the altcoin market has not seen a significant correction. If it can crash to the 50k-70k range and then stabilize and rebound, altcoins will have a window for explosive growth.
A large amount of retail funds has flowed back to the primary market to chase after low-quality coins, while the secondary market is extremely bleak. It’s difficult to make gains, and any slight breeze can lead to new lows.
In the currently suppressed environment, if one must pick a 'positive' belief, it would be—
1. Currently, the primary market has cooled down; the activity of pumpfun has dropped by 80% from its peak, and the cooling off of celebrity memes and AI sectors has severely hurt retail investors, forcing funds back to the 'safer' secondary market.
2. Bitcoin has started to decline in a somewhat decent manner, dropping about 10% in a day, from 109,000 to 86,000, but in terms of extent, it is far from enough.
This seems to also indicate that there will be a final wave of altcoin season in this cycle, but the intensity will be greatly reduced.
When a whale falls, all things thrive. So, don't fear Bitcoin's crash; from a certain perspective, the sharper the drop, the better it is for altcoins. Instead, a strong Bitcoin can easily suffocate altcoins.
We haven't even entered a low-interest cycle yet; lamenting the death of bulls is meaningless. If Bitcoin dies, you will just lose even more.
Above.
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