The cryptocurrency market was in a state of panic today (28th). Bitcoin plunged sharply in early Asian trading, falling all the way from $84,000 to the $80,000 mark. Market panic rose instantly. Is this just a "healthy correction" in the bull market, or the beginning of another "mass slaughter"?

Bitcoin hit a low of $79,034 this morning, but has rebounded to $79,544 at press time, down about 7.78% in the past 24 hours. At the same time, other cryptocurrencies fell.

The market trend is consistent with yesterday's judgment. It has not really stopped falling and there is always a probability of breaking 8.

Currently, Bitcoin is in a downward channel. In this case, if Bitcoin wants to confirm a stronger rebound trend, it needs to break through this channel first. Before breaking through the channel, based on the downward trend in the past few days, it is estimated that it will continue to fall.

Now we hope that Bitcoin can find support near 77,000, and then it can stabilize at 77,000 for a period of time. When the price breaks through again, there will be hope for an increase, and the bull market may continue. However, if after stabilizing at 77,000, there is a sideways oscillation box and then it chooses to break down again, then it may truly enter the bear market stage.

Trump's tariffs are blasting cryptocurrencies and stocks

The main reason for the current crypto/US stock market crash is Trump’s comprehensive reciprocal tariffs:

- A 25% tariff will be imposed on EU goods

- 25% tariffs on Mexico and Canada will be imposed starting March 4

- Imposing another 10% tariff on us is a double blow to China. An additional 10% tariff is imposed on top of the already heavy tariffs. Goods that previously went through Mexico cannot escape the 25% tariff. The biggest threat to the United States itself is inflation.

The biggest threat to the global capital market is the suspension of interest rate cuts in the United States.

Judging from a series of actions taken by Trump, comprehensive and equal tariffs are not just talk, but have been implemented. The tariff war will cause a short-term collapse of US stocks, cryptocurrencies, A shares, etc.

What strategy should we use now to deal with the market outlook?

Although the above information shows that there are many risks in the short term, the opportunities may far outweigh the risks! Trump's tariff war may create a gold mine, which may be similar to last year's 85, and the previous 312 519.

Although the current Bitcoin price has fallen below 80,000, it has not reached the bottom. Many people started to buy the bottom near 80,000, but I think it is not the right time yet. Don’t operate with the mentality of an immediate market reversal. At most, it will rebound first, and Bitcoin will have to fluctuate back and forth to find the bottom.

If you are confident in yourself, it is recommended to adopt a step-by-step approach to bottom-fishing. In the current market environment, simply following the strategy of "buy when it falls" may not be applicable. If you prefer to be conservative, you can wait for the price to rebound strongly before choosing to enter the market.

In summary, the market has not fallen through yet, and the subsequent market trends will come. You can prepare yourself in advance to avoid running out of "bullets" when the market really starts.

In addition, the PCE price index for January in the United States, which will be released tonight, will receive close attention. Originally, this data would not have a significant impact on the market (because it has already been fully digested), but at this highly sensitive moment, any small change may become the last straw that breaks the market's psychological defense line.