The pullback of BTC has arrived!
Bitcoin is experiencing a wave of adjustment, similar to what was said yesterday, with a low around 93000. Many brothers are starting to worry about a crash and the end of the bull market. A small-level pullback is very necessary, and there is nothing to be afraid of.
Bitcoin confirms an expanded adjustment level, with support at 92500 on the 4H level. This support level has been mentioned before, and we will see if it can maintain oscillation with this support or continue to break down directly.
The overall trend remains positive. Bitcoin's ETF is still continuously flowing in. Moreover, the interest rate reduction cycle is still ongoing. Not to mention the fact that there will be another interest rate cut on the 18th of next month. Right now, for the spot market, it is all about selecting high-quality varieties. Just two words: hold on, and don't worry too much.
As for other contract players, in the last 24 hours, a total of 161,007 people were liquidated, with a total liquidation amount of 527 million. Although it is a bull market, it won't always go up. The endpoint will be high, but the process will be bumpy, so cherish life and stay away from contract leverage. Don't stubbornly short the market; the profits are limited, and the risk of liquidation is still high, which is really unnecessary.
Here is a prediction of one of the most likely trend patterns:
Only when Bitcoin pulls back can altcoins have a bull market. It is important to know that the logic of retail investors differs from that of institutions; institutions may only recognize the leading projects in a sector, so funds only rush into Bitcoin, while retail investors always seek to overtake in the curve. This wave of Bitcoin's solo beautiful market has many altcoins with a serious need for catch-up. Retail investors have seen this point, which is why they are putting their funds into the altcoin market. This wave of altcoin catch-up also serves to solidify the foundation for Bitcoin to break through 100k, after all, this breakthrough is the result of both funds and emotions working together.
The best state is for Bitcoin to oscillate at a high level, allowing Ethereum to take over and drive a bunch of altcoins to soar!
As Ethereum continues to rise, even if Bitcoin breaks the 92500 support, it gives Ethereum space to pull back. This can be seen as a relatively good state for a bull market relay.
If the market is only driven by Bitcoin itself, then retail investors' funds may never catch up with Bitcoin. However, the altcoin catch-up will definitely attract retail funds to chase, or entice retail investors to sell their already surged altcoins, thereby helping Bitcoin break through both financially and emotionally. After Bitcoin rises, it can pause to wait for altcoins, and this cycle can continue to create the familiar altcoin bull market!
As for how to filter valuable and high-quality altcoins?
The Meme sector is undergoing an adjustment:
Previously, the market-leading Meme has actually seen a pullback. Even though Musk posted several Memes on Twitter, these projects showed a one-wave trend, peaking and then crashing. Even with old Musk personally appearing, no golden dog emerged, indicating that the meme market is indeed fading.
If there is no narrative on-chain, it is necessary to find high positions to clear out; don't fantasize! In the end, Memes are just a mess, and only a few with strong community and narrative capabilities will survive.
Watch the trend: For example, Doge has Musk promoting it madly, and the market is speculating, so there is continuous inflow of traffic and funds, and naturally, the dog rises with the tide.
Observe the project community's team operations: the ability to actively create narratives and promote them is like a particular success in Neiro recently.
We need to see if there are strong market makers: with these conditions, there is more potential, after all, any project's hype cannot do without traffic and funds.
Although Bitcoin is pulling back, the altcoin market has completely ignited:
This wave mainly features old coins on CEX, with almost all old coins rising by over 30% over the weekend. This wave of market movement is very similar to the post-2020 farm craze, when large capital collectively returned to CEX. Few people successfully transitioned to the CEX market, and most made money on DeFi, leaving them missing out on CEX. This scenario is quite similar.
Every pullback is the best opportunity to get on board, but prioritize leaders, public chains, DeFi L2, etc., as these are the market's first choices.
