⚠️ These are 2 important levels that BTC needs to hold if it doesn't want to dump hard
The market is witnessing a strong selling wave, as many investors accept losses due to a loss of confidence in the price trend. This is one of the largest sell-offs in the current cycle, showing the panic of a significant portion of market participants.
👉 For BTC to recover and continue its upward trend, the price needs to stay above the 92,000 USD level, as this is a crucial level to regain growth momentum.
👉 If the price drops further, 70,000 USD will be an important support area, where buyers may appear strongly to prevent further declines.
The last 24 hours, the liquidation map recorded 615 million USD with more than 225k traders, of which long-hand accounted for 530 million USD.
Everyone said that all $$$ was gone, but long/short every time BTC danced...😅
The total market capitalization decreased by 6.4%, according to CoinGecko, it is currently 2781 billion USD.
Some information last week - Binance launched a community governance mechanism, vote to list and vote to delist - After the GPS drama, Binance announced the termination of the market maker (MM) activities related to the GPS and SHELL projects.
- Canada elects new Prime Minister, tariff war with the US is an unending story.
- Crypto Summit conference took place on March 7, President Trump reaffirmed his commitment to making the US a "Bitcoin superpower" and "crypto capital" of the world, as well as emphasized "never sell Bitcoin" => But we are holding altcoins, President
💰 To get rich from crypto, you must master 2 factors...
Timing and Size
In the crypto market, making significant profits is not just about picking the right project but more importantly about entering at the right time (Timing) and betting with the appropriate size (Size).
1. Timing – If you enter too early, you are considered wrong
Investing too early is no different from investing incorrectly, as the market may not be ready and you could lose money or wait a long time for profits. Some typical examples:
🧐 The story of the order book trap: A lesson from a market maker scam
Once upon a time, in the order books, a man appeared and claimed he would buy coins at $10 each.
Traders looked around and saw many coins, so they rushed to DEX exchanges to gather stock.
The man bought thousands of coins at $10. As supply began to dwindle, traders gradually stopped buying.
At that moment, he declared: "I will buy at $20!" – making traders excited again, continuing to purchase coins.
Gradually, the supply ran out, and traders began to leave. But unexpectedly, the buy price increased to $25, making it extremely difficult to find a coin to buy.
The man then announced: "I will buy at $50!" But this time, he said he had to go to the city, and his assistant would buy coins on his behalf.
While he was away, the assistant told the traders: "Look, this is the huge stash of coins that the boss has gathered. I will sell it to you at $35 with linear vesting. When the boss returns, you can sell it back at $50 and make an easy profit."
The villagers hurriedly emptied their pockets to buy all those coins, hoping to cash in when the boss returned.
But... they never saw him or the assistant again. All that was left were worthless coins!
And that is how some foundations and market makers create scams to siphon liquidity and then run away!
Bitcoin $91k and what happened in the market yesterday?
✔️ Overview: • Bitcoin will be treated differently from altcoins in US crypto reserves, according to Howard Lutnick.
• The US Senate passed a resolution to repeal the IRS's "unworkable" DeFi brokerage regulation.
• The SEC withdrew its lawsuit against Cumberland DRW, marking another crypto investigation dissolved under the Trump administration.
• The co-founder of Reddit wants to buy TikTok and put the platform "on the blockchain."
• Metaplanet purchased an additional 497 BTC for $43.9 million, now owning 2,888 BTC worth $251 million, with plans to reach 21,000 BTC by 2026.
• Bukele (President of El Salvador) is committed to continuing to buy Bitcoin despite a $1.4 billion agreement with the IMF limiting public BTC purchases, raising El Salvador's total to 6,101 BTC82194145769.
Trump Organizes the First Crypto Conference at the White House on March 7! 🇺🇸🚀
For the first time in history, the White House will host a cryptocurrency summit on March 7, chaired by President Donald Trump. This is a clear sign that crypto policy in the U.S. is undergoing a major shift compared to the Biden era.
💡 The main goal of the conference: - Build a clear regulatory framework to support the innovation and development of crypto. - Protect consumers, prevent fraud and risks in the market.
There is no direct rotation from BTC to alt, but stablecoin holders are favoring alt. Alt volume is 2.7x BTC. BTC dominance no longer defines alt season, but trading volume.
However, this is a very selective alt season. DYOR."