Two days ago, I reminded everyone to pay attention to risks, to sell, reduce positions, and eliminate contract leverage. This morning, upon opening, altcoins collectively plummeted. Two days ago, I advised everyone to take profits; did you run?
In the past 24 hours, contracts worth up to $1.7 billion have been liquidated!
Long positions were liquidated for $1.7 billion; most of the liquidations are altcoins, many of which have dropped by 20%, while Bitcoin has not dropped much at all.
BTC 97,500, dipped to 9,416, currently down 3%
$ETH From 4000 to 3514, a drop of 6%
$SOL Dropped to 202, a drop of 10%
$BOME Dipped to 0.0073, with a maximum drop exceeding 25%
I reminded everyone to sell in the article I published two days ago.
Beware of risks! The time left for liquidating altcoins may be limited
We believe that 100,000 is an important psychological price level. After breaking through, most people will enter the market enthusiastically, and the market will reach a buying climax, likely starting to adjust! Altcoin adjustments will be even more severe!
We have currently preliminarily verified our judgment.
However, after the article was published, many people held different views:
'100,000 is just the beginning; 200,000 is the endpoint'
'It's too early to sell now'
'The bull market for altcoins has just begun'
'Sell the house and go all in'
If you sell early, even if it's just to reduce your position and eliminate high leverage, you can avoid this risk and wait for the right opportunity to re-enter the market.
There is never anything new under the sun; no one can sell at the highest point. Taking profits appropriately during market frenzy can allow you to take away your principal and profits.
Everyone says they don't eat fish tail trends, they take profits when they see them, but in the end, they are reluctant to leave the market. In fact, 'before leaving the table, all profits are floating profits.' Only when the tide goes out do we know who is swimming naked.