The crypto market is facing huge inefficiencies in a short time, as a week filled with potential volatility starts with fluctuations.
Bitcoin spike
After briefly breaking through the $100,000 mark last night, Bitcoin spiked down to $94,150 at 5 AM today, with a maximum drop of 6.25%. As of now, Bitcoin's price has rebounded to $97,905, with a nearly 24-hour drop of 2.96%.
Today's drop, regardless of whether it's a prelude, means that securing profits is what matters. Today's Bitcoin market is facing resistance at the $100,000 level, showing a rebound on the hourly chart, while the 4-hour level shows a pin-bar rebound. The 12-hour level shows a drop, and the daily level shows a drop. The intraday resistance level is $100,000, and the support level is $95,500.
Ethereum drop
Ethereum once approached $3,500 but fell to $3,709 during this downturn. It has now rebounded to $3,755, with a drop of 7.4% in the last 24 hours.
In the past 24 hours, 572,000 people were liquidated across the network; during the 312 event, only 100,000 were liquidated.
The record for the largest liquidation amount in this bull market was set in one day. The top indicators also show that the current market has cooled down, and FOMO sentiment is gone. If Microsoft shareholders do not approve the Bitcoin purchase proposal at tonight's meeting, the market will enter a standard consolidation rhythm until panic sentiment arises, ultimately confirming the oscillation bottom.
You need to understand the facts: today's flash crashes all occurred during U.S. stock market closing hours, between 5-7 AM Beijing time. During this time, the Asian and American markets are resting; the main purpose of the flash crash is to clear leverage and prevent you from picking up cheap chips. In a bull market, there are often spikes, and a sharp drop is not scary. Today, we sow seeds, and in the first quarter, we will reap the harvest. Of course, it’s difficult to buy a bull market's return!
A reminder again
Currently, everyone can only trade BTC, ETH, and SOL on margin. Other altcoins are experiencing inhumane crashes. The bull market for these three coins hasn't ended yet, and they can continue to reach new highs, but altcoins might not be the same; they may only rise to your cost price before the final bull market's crazy spike. Right now, I'd rather open a triple position on ETH and SOL than try to catch the bottom on altcoins. Mainstream assets are very important, and coins that everyone around the world is trading are also important.
Altcoins are just something our retail investors play with. What are you expecting? Even breaking even is the biggest luck!
Lastly, a password:
Recently, the secondary market has started to adjust, and the short-term profit effect may shift to the blockchain. Recently, there have been speedily moving golden dogs on-chain; when playing with dirt dogs, don't rush in blindly; you must pay attention to the narrative and sentiment.
Celebrities like Musk calling out trades come first, followed by hot narratives and AI memes.
In the crypto world, you must stay away from contracts and leverage. Don't expect to make a little short-term profit to supplement your living expenses; over 90% of people cannot survive in this industry.
If you don't have the ability to make money in the crypto world, just work steadily and live your life. Don't think you can change your financial destiny through investment and trading; this path is a narrow bridge for the vast majority of people.
Unless you can settle down over several years, comprehensively enhance your knowledge through systematic learning, and master professional skills, continuously refining, iterating, and improving your trading system, then you will likely have a chance to get a piece of the pie in this field.
