The cryptocurrency market showed different responses within 24 hours. BTC traded between $93,000 and $98,000, maintaining within that range. Ethereum briefly fell below $3,500. XRP also fell below $2 but rose 6% in the past 24 hours. The global market cap dropped about 1%, currently at $3.40 trillion. Overall trading volume decreased by 7%, now at $305 billion. From the liquidation distribution map, many are still attempting to bottom-fish, so the market may not immediately see a V-shaped reversal. The main players will clean out these bottom-fishing funds until they no longer enter easily.
Last time, when the price fell to 90,500, the bulls were completely cleaned out, followed by a rapid market rebound. This time, the rise is slower, so a gradual bottom-fishing strategy must be adopted: buy small on small dips, don’t buy when it doesn’t dip, and buy big on large dips. Bottom-fishing during a crash is a more prudent strategy than chasing highs. As long as one believes the overall trend is upward, patiently waiting after the pullback is essential.
High-leverage trading is equivalent to gambling; the best practice is to place orders on the left side to bottom-fish and patiently wait for market fluctuations, as being anxious won't lead to good outcomes.
Let's talk about the logic behind the crash: Why is it so hard to escape the peak?
In fact, after every adjustment in a bull market, the market continues to surge, so every time someone thinks they successfully traded the waves, they can't help but get back in.
This repeated process has conditioned speculators like Pavlov's dogs, causing them to develop a reflex. Every time the market pulls back, they remain resolutely bullish, increasing their positions and growing bolder.
Even when the market shows a clear downward trend, with drops sometimes reaching 30% or 50%, those who are accustomed to trading in waves still refuse to give up the fantasy of a bull market, believing that after this pullback, there will be new highs.
But when the market really enters a bear phase, repeatedly going long and getting trapped suddenly makes one realize that something is wrong. However, by then, it's too late to react.
Bottom-fishing strategies and key cryptocurrencies
1. Mainstream coins and strong altcoins
Every pullback in a bull market is a good opportunity to test the strength of altcoins. Those that can maintain strength usually perform impressively during rebounds. You can pay attention to the following:
Established public chains: ADA (Cardano), LTC (Litecoin)
Strong MEME coins: WIF, BONK, FLOKI, PEPE
New strong MEME coins: neiro, babydoge, act, pnut
Long-term holdings: SHIB (Shiba Inu), DOGE (Dogecoin)
2. Projects worth watching
RAY
An automated market maker based on Solana, providing fast trading and liquidity sharing. Now down 40%, it is a good entry point.
OM
A highly secure Layer 1 blockchain focused on the tokenization of real-world assets and compatible with IBC, currently showing bullish sentiment. Now down 35%, there aren't many opportunities.
MOVE
A Move blockchain based on Ethereum, boasting high TPS and security, has performed well recently and has passed security audits.
