The crypto market is in turmoil following the recent Fed meeting, and Iโm here to be your voice of reason. The most crucial advice right now? STOP TRADING ALTS. Ignore the noise from so-called โcrypto gurusโ pushing you to buy this or that coin. The truth is, we donโt know where this drop will bottom out, and thereโs no clear signal to act on yet.
Whatโs Happening?
Hereโs a quick breakdown of the chaos:
Fed Rate Cut: The Fed slashed rates by 0.25 bps yesterday, triggering heightened volatility after Powellโs speech.
Market Retracement: After months of pumping, this pullback in both crypto and stocks was inevitable.
Stronger Dollar: As the dollar gains strength, BTC faces downward pressure, dragging alts down with it.
What Should You Do?
This market is tricky, but there are ways to navigate it wisely:
1. Spot Bags
Hold tight if youโve got strong positions.
Consider DCA strategies if youโre in bullish trends, but donโt act prematurely. Wait for clear signals.
2. Futures Trading
Extreme caution is key!
Personally, Iโve only longed LINK, and itโs not in profit yet. Iโm staying out of the market until a predictable opportunity emerges. Small risks only.
3. BTC Dominance (BTC.D)
BTC.D isnโt anywhere near resistance.
A spike to 60% could cause alts to drop another 20-30%, turning this into a massacre for altcoins.
Why Sitting Still is Smart
Sometimes, the best trade is no trade at all. This market demands patience and discipline. Jumping into altcoins now without clear reversal signals could lead to massive losses.
Want to avoid the hype and navigate the market safely? Follow my copy trading account! Iโm managing risk while others chase risky trades. Click here to copy my moves and stay ahead of the market ๐
Final Words
Stay smart, stay patient, and letโs ride out this storm together.
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