After the announcement of the U.S. Federal Reserve's interest rate decision today, the crypto market began to dive, with Bitcoin plummeting and almost falling below the $100,000 mark, and Ethereum also falling to $3,617.
Since reaching 90,000, this round has experienced three rapid declines. Today's decline is the fourth one. It can be said that the first three declines consumed a large amount of buying. Therefore, there were not many buying orders after this decline. Instead, there was a negative decline after sideways trading, which is equivalent to burying another wave of bottom-fishing funds.
In the past 24 hours, $709.43 million of positions were liquidated, and a total of 249,061 traders were liquidated.
Bitcoin's current trend is not ideal; the dull market continues as expected. I already warned in my review last night and mentioned to everyone in advance (Go all in! Bitcoin is facing a storm tonight! Ethereum is aggressively adding positions! Is the future of altcoins in trouble? (Article does not include a password)) A slight rise replaces a sideways consolidation, waiting for directional choices, and caution is needed for pullbacks. As long as there is no crash, a few points of decline are beneficial for the long-term bullish development of the market, as some profit-taking is necessary. If you still get liquidated from a few points of decline, you really need to rethink your trading strategy.
The best scenario for Bitcoin is to rebound to around 103,000. Ethereum (ETH) is definitely going to rise, and below 3,700 is actually suitable for small long-term investments. When it returns above 4,000, those who are risk-averse can sell some and wait for a pullback. The market should switch to 'defensive mode' now... For altcoins, there's not much to say, as major exchanges average 5 new projects a day, and on-chain, there’s a new project every second; no amount of money is enough to distribute. During the altcoin season, one cannot seek certainty in uncertainty; it's better to respect the facts.
Why is this round of bull market difficult so far:
Because it rises too quickly, retail investors can't react in time and are afraid to chase, but once they do, they hit the peak.
When it drops, it drops hard; once it falls, people say it's completely over, lacking confidence.
Those trading contracts are worse off; those who got liquidated didn't set stop losses, and they aren’t even newcomers... There's no way to persuade them...
After struggling to break even, it unexpectedly dropped again? Hurry up and exit; those who read my article last night still made some profits:
USUAL: Original price 0.92, peaked at 1.18.
NPC: Original price 0.034, peaked at 0.036.
