$MOVE
Movement, an Ethereum L2 based on Move, has launched its mainnet test version. This is the first phase of the Movement Network launch plan.
Last night, the cryptocurrency market plummeted, with Bitcoin dropping to a low of $94,150 and Ethereum to $3,509. Most altcoins fell about 20%.
A significant pullback does not equal a market crash; reviewing historical patterns, this is a normal correction.
In the past 24 hours, long positions were liquidated by 1.614 billion, while short positions were liquidated by 177 million, totaling 1.79 billion.
The focus is mainly on liquidating long positions.
The flash crash is similar to the 6th, hitting leverage in the early morning, making it difficult for most people to bottom out during the Asian trading session.
The market has no significant liquidity injection; a pump requires lightness. Bitcoin hasn’t crashed due to no demand for leverage clearing.
The flash crash caused the funding rates of altcoins to surge, which has now returned to normal, achieving the goal of clearing leverage.
Currently, it is a cleanup of leveraged altcoin markets, entering a bottom-fishing zone.
The market hasn't peaked; positive news continues. In a bull market, there’s often more consolidation.
Mainstream trends seem to replicate 2023, possibly reaching a peak in January next year.
My view is: the bull market is not over, the peak of altcoin season has not arrived, and a significant drop can allow for increased positions in strong coins.
Altcoins are likely to experience rotation after this pullback; each downturn in a bull market is a good opportunity to test the strength of altcoins.
Observe which coins maintain strength during the downturn in the bull market!
This major drop was unavoidable; risks were released in advance, so one should buy on dips and accumulate in batches.
One can increase positions in existing coins to avoid losses from changing portfolios; choose established public chains like ADA and LTC.
Previously, the MEME sector led the rebound; this time, there are no sectors available to invest in.
WIF and other coins rebound quickly, new ones like neiro have high odds. SHIB and doge are suitable for long-term holding.
RAY and OM pullbacks present good opportunities.
In a bull market, playing with spot funds won’t lead to total loss. Don’t fear getting stuck just past the halfway mark; if Bitcoin stabilizes at $100,000, altcoins will surge.
If there are bullets during a downturn, they can be used to firmly believe in coins and pick up chips.
$RAY
Raydium is an automated market maker (AMM) based on the Solana blockchain. It provides users with a centralized limit order book, supports fast trading, shares liquidity, and allows users to earn profits.
Strong competitiveness, significant growth potential.
Movement is the first Move blockchain based on Ethereum, offering higher security, high TPS, and near-instant finality. Unlike most Ethereum L2s, $MOVE is the native token of Movement, used for gas payments and staking.
Move has now launched on major exchanges! According to market data on December 9, MOVE opened with a maximum increase of 47190%!
Moreover, MoveBit under BitsLab recently announced that it has successfully completed a security audit of the Movement blockchain, providing important assurance for the chain's security and stability.
The key to investment is recognizing cycles, overcoming mindset issues, and following trends. Only then can one grasp the rhythm and achieve excess returns.
I hope everyone can choose the right targets; the mindset is key!
