$BTC The price plunged, why can altcoins remain stable?
Yesterday's BTC plunge was really scary, and it dropped directly below $93,000. But did you notice? Many altcoins actually held up this time, especially BNB, which we mentioned before, and rose against the trend to nearly $700!
Let's take a look at the on-chain data, the situation is a bit subtle. Stablecoins are withdrawing from exchanges, and now it's almost the same as it was on December 7. In addition, the exchange has 5,000 more BTC, most of which came from Binance. The ETF is not optimistic either, and it has been taking out money for three consecutive days, which has exceeded $84 million.
But don't worry, we have to hold the $92,000 mark for the next two days. Once Christmas is over, the big institutions will come back to trade, the market will immediately heat up, and our counterattack time has come.
If BTC can stabilize, even if it doesn't rise, the spring of altcoins will soon come. At this time, it is a good idea to invest and buy at the bottom. I am optimistic about Uni, FTM, BTC and BNB projects, which have great potential.
Are you stuck? When is the best time to buy at the bottom? Again, if you are confused and helpless and don’t know what to do, click on the avatar and follow me.
