Looking at the popular stocks in this round of market, Ordi and Sats have fallen by more than 50%, and Sol has dropped by 37%, indicating that the main funds have been shipped out, and the remaining retail investors have no one to protect the market, resulting in a stampede decline. , funds have begun to avoid risks, and they can only release risks by falling.

The inscription sector has fallen really hard, sats has dropped three times from its highest point. The old man who shouted inscription every day some time ago must have been suffering during this period. The currency circle is so sharply rising and falling. Many people are confused after seeing the adjustment of copycats in the past two days. It takes a month or three days for a copycat to rise back. The more this time is, the more it tests people’s patience in holding currency. People who are not firm in holding currency are It will definitely be washed out.

Reasons for poor performance

Bitcoin ETF “Sell-off News” Event

Notably, ORDI and SATS prices are down approximately 34.50% and 50% respectively so far in 2024. The main reason for the decline was the growing “sell news” sentiment in the cryptocurrency market, led by Bitcoin. As of January 25, the sats-BTC correlation coefficient was 0.66; it has remained on the positive side in recent history.

Furthermore, this bearish momentum coincides with a significant decline in inscription fees and Bitcoin block size share, highlighting the decreasing demand for Bitcoin serial numbers.

Inscription token price movements tend to be closely correlated with BTC itself, in large part because Bitcoin Ordinal uses Bitcoin’s blockchain.

For example, SATs involve writing data directly to the Bitcoin blockchain, creating unique forms of digital artifacts that are present in Bitcoin transaction outputs.

Summarize

In the short term, it is obviously going through a washout phase. Overall, it follows the decline but not the rise, and the trend is very weak. Moreover, it is still falling in volume, and the price continues to hit new lows. If you want to speculate on it in the short term, it is not a good target. But if you can get a big bull market next year, I think you can buy the bottom in batches with small positions.

Therefore, in terms of operating strategy, if there is a big correction in the market, you can consider focusing on bottom-buying head inscription projects. For example, sats on BRC20, ATOM and quarks on ARC20, and ETHS on ERC20, etc. When we are bullish or bearish on a project, it is very easy to enter the transaction with deceptive perceptions, which is very dangerous at this time. #内容挖矿 #sats #ordi