The market fluctuated violently. In the past 4 hours, more than 132 million US dollars of liquidation were caused by the entire network, mainly in long positions! The market is really turbulent, and everyone is paying close attention no matter where you are. The current situation is that all the money in the market has disappeared, and liquidity has been almost drained. To judge whether the market has bottomed out, the key lies in several key factors.
1. When the price of large cryptocurrencies plummets, observe whether the altcoins fall synchronously, which is equivalent to letting top investors, venture capital and market makers help you judge the market trend.
2. Observe whether market sentiment has reached the level of despair.
3. Pay attention to possible new turning points, such as the CPI data on Thursday this week. When the market can't get any worse, any data may become a positive turning point for the market.
