On March 10, 2025, the Nasdaq plummeted nearly 5%, with tech stocks experiencing their largest single-day drop since 2022. Bitcoin dropped to a low of 76,000, resulting in over 300,000 liquidations! The total liquidation amount was 955 million.
Looking back at my recent articles over the past ten days, I have been bearish on Bitcoin, targeting the 70,000-75,000 range! And today, that target is about to be reached!
The above views have been urging the VIP group to liquidate since the end of February! Liquidate! Liquidate!
Now that we are getting closer to the target position, I need to start picking up chips! This wave of trend escape top picking, those who want to bottom out strategy are welcome to join VIP, getting ahead of the big bulls is the time for profit!
Has the market reached its bottom?
Market sentiment can be described as utterly terrible, but this decline has not been caused by any negative information; investors are in a state of inexplicable panic. Investor sentiment on last Friday's spot ETF not only did not improve but intensified the panic. The main reason for the decline is attributed to the trade war triggered by tariffs, and the escalation of the trade war will lead to repeated inflation in the US, resulting in economic recession. Therefore, the US dollar index has been declining recently, but investors' risk appetite is even lower.
In the 60th week, American investors collectively exited 9,388 BTC, a decrease of 60% compared to the 59th week’s over 30,000. Although it has improved somewhat, we still need to wait until panic sellers have exited before the price can stop falling; we still need to observe for a few more days.
There is still a blank area, which is between 72,000 and 75,000, this is also the starting range that shot up on election day.
Therefore, I continue to maintain my view: buy in batches at the 70,000-75,000 range. This time, whether it's Bitcoin or altcoins, I will start picking up chips.
I think there will be another accelerated decline this week, and then we will wait for the Federal Reserve to step in to save the market because Trump and Musk seem to be intent on creating a limited crisis to puncture the US stock market, creating conditions for the Federal Reserve to inject liquidity.
Buffett has long sensed the smell of blood, holding over $300 billion in cash waiting to buy the dip after the crash; Wall Street is caught in a collective frenzy of 'recession trading', and the sharp drop in two-year Treasury yields indicates that interest rate cut expectations have reached a consensus.
When the flood of liquidity surges again, there is only one word left for the crypto market: rise, rise, rise.