After this drop, most coins have returned to the 200-day moving average, with many also retracing to around the 60-day and 120-day levels. The washout was very thorough; the operators left no room for the bulls, completely destroying them. This means that the second wave of the rebound will be even stronger. After clearing out the market, those who needed to cut losses have done so, and they can pull the market however they wish.
In the process of this bull market, there are inevitable drops for shaking out weak hands, and sometimes there are even deep washes. However, the final outcome is certainly positive. Every day in a bull market has people liquidating their positions, which reminds me of the saying: pessimists are always right, while optimists always move forward. Only optimism can win the final bull market. Frequent exits and fluctuations can greatly change a person's mindset, especially in such extreme situations, making it very difficult to win. Moreover, everyone is fully invested in spot trading, buying the leading stocks in each sector, and simply holding on can lead to victory.
