May 31, 2025

Wishing you health during the Dragon Boat Festival. Every holiday, the cryptocurrency market always faces some challenges. Not to mention the year-end Christmas cash-out consumption, even a holiday like this, which has little correlation to the crypto world, experienced such a pullback; one can only say it's a bit coincidental. In fact, the drop before the holiday is supported by some logic. Consumption is secondary; what's more important is the consideration of quant trading resting and traders closing their positions, as holding large positions surely causes unease, and closing positions is a good choice.

The pullback in the past couple of days has been quite significant. Although Bitcoin remains above 100,000 and Ethereum has not broken down, the performance of altcoins is too disappointing. Established altcoins have erased the gains from the previous week, and the new altcoins look even worse. This is why one should avoid touching altcoins lightly; it might be better to look at the new coin trends on Binance Alpha. Therefore, I only support everyone in profit-taking; please do not buy coins, as the probability of finding opportunities in such altcoins is too low.

So, how should we view the upcoming market trend? In a sense, Ethereum's return from 110,000 has a certain probability of forming a secondary peak. However, in terms of timing, even so, it is unlikely to immediately form a reversal; instead, it will repeatedly test around this new high for several months while continuously liquidating longs through several small-scale new highs. Therefore, there is no need to worry about timing; moreover, the upward trend cannot reverse immediately.

This pullback is also one of the larger ones since this uptrend began. In my view, it can be considered a necessary experience for future gains. Especially at times like this, when you see a bit of profit and it gets given back, it’s hard to hold steady. Bitcoin has also touched a new high; perhaps the next attempt won’t require too long of a wait, and Ethereum's strength is also evident; I will continue to remain optimistic.

Thank you for your attention and likes.