BTC has pulled back 10,000 points in three days, and altcoins are bleeding profusely. But don't panic; it's just a few words from Powell. The logic for mid-term growth hasn't changed.
Bull markets often have sharp declines, which is not surprising. Pullbacks are unrelated to long-term trends; pullbacks are about killing contracts and eliminating high leverage. After cleaning out these high-leverage positions, the music continues, the dance continues, and the bull will run more healthily, reaching new highs again.
During this period, Bitcoin is leading the way while altcoins are still halfway up the mountain. This is truly the most bizarre bull market in history. Bitcoin has been continuously reaching new highs, while altcoins are constantly being cut down, and even Ethereum hasn't reached a new high.
This bull market is destined to be a market for seasoned investors, with no connection to newcomers or those who have not experienced a full cycle and are solo in the crypto space. The entire Web3 community is cold and silent; during the previous three bull markets, various communities had already started showering red envelopes early on.
Currently, BTC is severely controlling the market. In the eyes of retail investors, the coin price is too high, and retail investors are mostly turning their attention to ETH or other altcoins. Right now, it's just a solo performance by Bitcoin, continuously breaking new highs. When it encounters a downturn, the altcoins become completely blind.
Another point is that Binance has been crazily launching new coins recently; the last time Binance launched 6 new projects, further diluting an already illiquid market!
At this point, we need to consider that after the pullback, when Bitcoin continues to surge and then stabilizes, which asset is likely to be the first to receive funds as they overflow? I believe this cycle won't change much and will be similar to the previous three cycles. When BTC prices rise to a certain level, such as 110,000 or 120,000 and stabilize, funds will start flowing into ETH.
Currently, BlackRock's promotion mainly focuses on BTC and ETH. BlackRock stated, 'For our clients, BTC is absolutely the top priority, followed by a bit of ETH, and very little else.'
So you can see that BlackRock's stance has always been very clear: BTC is the primary focus, followed by ETH, and then other altcoins. This is almost beyond doubt. The main point of this statement is to promote Bitcoin and Ethereum-related ETFs rather than developing ETFs involving other altcoins.
This aligns with what BlackRock suggested a few days ago, advising investors to allocate 1% to 2% of their funds to invest in BTC. It shows that BlackRock feels their client development is still not strong enough, with many clients not yet allocated to the extent of 1% or 2%. This is something BlackRock needs to push forward.
Indeed, BlackRock is doing just that. From the daily data we publish on BTC and ETH spot ETFs, we can see that BlackRock is investing over a hundred million dollars in BTC and ETH almost every day, and their investment in ETH is almost half of that in BTC.
This clearly indicates that BlackRock is vigorously recommending BTC and ETH without considering other altcoins.
This is similar to previous cycles with Grayscale, which was also buying continuously: first BTC, then ETH, and finally adding a bit of altcoins.
I have always emphasized to you that the stage of the bull market is more important than the price of the coin. Therefore, those who haven't entered before 75,000 are strongly urged to buy at market price once it reaches 75,000.
Now, you must also remember one more thing, which applies in every cycle: the order of building positions must be BTC first, then ETH, and finally various altcoins.
Today's focus is on the coins: ordi (small BTC, the leading Bitcoin ecological inscription, currently undervalued).
