Talking about the upcoming market situation, I think it will be quite contradictory:
1. I believe the significant drop is a result of the market's liquidity collapse due to Powell's speech, but more importantly, it's the feedback that Mstr cannot continue to buy BTC in the short term, which corresponds to the outflow of BTC ETF. This uncertainty may persist until January.
2. The situation for altcoins is complicated; most market makers definitely weren't active yesterday.
A small number of project teams provided buying liquidity to absorb the sell orders, so there was basically no drop. A small number of project teams with strong consensus managed to make trades (T), and those who supported the rebound at the bottom were the most vigorous. This wave clearly shows who truly has consensus and who is pretending to have it; the upcoming differentiated market will focus on projects with genuine consensus.
Generally, after a significant drop, the fear among most players will increase, so considering selling when trying to buy the dip, it may not return to its original position. This drop in BTC basically indicates the end of the mainstream market that began with the election victory, entering a phase of altcoin competition. In this situation, PvP will be even more severe, so one must think carefully before taking action.
