A new day begins. The crypto market in April can be described as "heart-wrenching". Tomorrow is the day when Bitcoin halving will be implemented. The crypto market has experienced a deep market crash due to many factors, and the contracts have been liquidated in succession. In fact, there will be such a deep market crash before each Bitcoin halving cycle, but the market crash before Bitcoin halving in 2024 is actually different from the past. The most fundamental thing is that the crypto market in 2024 has the US Bitcoin spot ETF, and the market structure has been completely changed.

Before the approval of the Bitcoin spot ETF, the "oolong" news that appeared on the 16th of last year caused Bitcoin to completely get rid of the long-term grinding trend of 26,500 US dollars and broke through 30,000 US dollars in one fell swoop, especially the "oolong" news that Bitcoin is about to be approved. Every time Bitcoin's ups and downs are accompanied by a large-scale liquidation of contracts, the two "oolong" incidents also show the power of the US SEC. In fact, the SEC is the largest whale, harvesting the market at any time.

The bull market before Bitcoin halving is actually a bull market dominated by Bitcoin due to the massive inflow of Bitcoin spot ETFs. Altcoins have not performed well at all. The only performance of altcoins is a short-lived small bull market stimulated by Nvidia's AI conference in the AI ​​sector, and a wave of pull-ups in SOL and its related ecosystem. In fact, many altcoins with narratives have been washed out at this moment, and they are very operational. AAVE, LTC, SOL, and JTO are actually quite resistant to declines. Many institutional analysts believe that the crypto market after halving will also be the season for altcoins. #Megadrop #比特币减半 #大盘走势 #Meme #WIF