Bitcoin spiked near 98,000 in the early morning, then began to rebound, reaching a high of 101,600. The current fluctuation range is 100,000-101,500. The upper range of 102,000-102,500 has trapped positions, so it won't go up directly that quickly; there will be a pullback. Short positions can enter at 101,500-102,000, while long positions can wait for opportunities at 99,300-98,500.
Other altcoins have experienced another round of waterfall liquidation. Only BTC and BNB have the ability to resist declines and maintain value. I also bought some spot last night and can only operate in the short term. It is advised not to bottom-fish altcoins for now, as Bitcoin has not yet confirmed its bottom, so other coins haven’t either. The market has entered an adjustment period, and operating against the trend is very difficult.
During the washout phase, there will be repeated spikes up and down. Small funds can engage in short-term operations during the day, but do not think of adding capital to bottom-fish. The larger market economic environment has not changed; the Federal Reserve is not cutting interest rates, and issues like tariffs and war will affect the economy. The capital market will naturally choose to avoid risks, reduce investment, and adopt a wait-and-see approach. When spring arrives, the market will still be flourishing.
