币姥爷
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February 28, 2025
The market has continued to decline, and this wave of decline is mainly driven by BTC. Although altcoins seem to have not followed the decline, on one hand, it is because they have already dropped significantly before, with many of them having their values halved at high positions, and some have dropped by 90%. Further declines would be impolite. The main force behind BTC is no longer completely the big players in the crypto circle; after the ETF, various capital, including Wall Street, has entered the game. Of course, this is also a characteristic of every bull market, which brings new buying power, but this time it is capital that is buying.
You may have noticed that BlackRock has frequently transferred coins to exchanges recently, mainly BTC + ETH. In fact, this is not BlackRock selling coins themselves, but rather the ETF selling coins. The coins of the ETF are managed by BlackRock, and with the recent price drop, it is certain that ETF players are choosing to sell, so BlackRock must sell the coins accordingly, which is essentially helping clients sell coins. Previously, the price of BTC was driven up by ETF buying; if the ETF is offloading, it will definitely fall. Let’s clarify the logic first.
Understanding this point, I can only say that the downward trend of BTC has not stopped, just like the previous rise had some inertia. BTC had been oscillating between 90,000 and 100,000. If it can maintain this oscillating range, then this 'halftime break' wouldn’t be so uncomfortable. However, it has indeed broken down, and now we can only continuously look for support, hoping that the support level can hold. The market's relatively subjective support is around 75,000, which is a dense area of chips during the upward process.
As for altcoins, I haven't built up my positions much, mainly focusing on ETH, and I have added some AI. ETH has definitely suffered a considerable loss, but the selling pressure from Ethereum's ETF is relatively small. In any case, the price drop during historical trends is an opportunity for long-term holders; however, being in this situation inevitably leads to panic. Personally, due to relatively reasonable cost control, I am not panicking, but I also need to rely on faith to hold on. If position management is decent, I would suggest buying more as the price drops. Overall, this price represents the third bottom test for ETH, and the probability of holding is still there. If it breaks down, then we will wait for the market in the second half of the year; it is not the first time experiencing this.
Thank you for your attention and likes. Let’s hold on together.
The market has continued to decline, and this wave of decline is mainly driven by BTC. Although altcoins seem to have not followed the decline, on one hand, it is because they have already dropped significantly before, with many of them having their values halved at high positions, and some have dropped by 90%. Further declines would be impolite. The main force behind BTC is no longer completely the big players in the crypto circle; after the ETF, various capital, including Wall Street, has entered the game. Of course, this is also a characteristic of every bull market, which brings new buying power, but this time it is capital that is buying.
You may have noticed that BlackRock has frequently transferred coins to exchanges recently, mainly BTC + ETH. In fact, this is not BlackRock selling coins themselves, but rather the ETF selling coins. The coins of the ETF are managed by BlackRock, and with the recent price drop, it is certain that ETF players are choosing to sell, so BlackRock must sell the coins accordingly, which is essentially helping clients sell coins. Previously, the price of BTC was driven up by ETF buying; if the ETF is offloading, it will definitely fall. Let’s clarify the logic first.
Understanding this point, I can only say that the downward trend of BTC has not stopped, just like the previous rise had some inertia. BTC had been oscillating between 90,000 and 100,000. If it can maintain this oscillating range, then this 'halftime break' wouldn’t be so uncomfortable. However, it has indeed broken down, and now we can only continuously look for support, hoping that the support level can hold. The market's relatively subjective support is around 75,000, which is a dense area of chips during the upward process.
As for altcoins, I haven't built up my positions much, mainly focusing on ETH, and I have added some AI. ETH has definitely suffered a considerable loss, but the selling pressure from Ethereum's ETF is relatively small. In any case, the price drop during historical trends is an opportunity for long-term holders; however, being in this situation inevitably leads to panic. Personally, due to relatively reasonable cost control, I am not panicking, but I also need to rely on faith to hold on. If position management is decent, I would suggest buying more as the price drops. Overall, this price represents the third bottom test for ETH, and the probability of holding is still there. If it breaks down, then we will wait for the market in the second half of the year; it is not the first time experiencing this.
Thank you for your attention and likes. Let’s hold on together.
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