The reason for the sharp drop of altcoins has been found, and several major factors that will lead to a reversal in the market are summarized!

Yesterday, altcoins fell across the board! The reason has been found!

South Korean financial authorities may delist about 600 altcoins this year. The move is a response to the upcoming "Virtual Asset User Protection Act", which will take effect on July 19. The new legal standards will cover nine key aspects, including listing suitability, issuer reliability, user protection, technical security and legal compliance.

When I first saw this news, I didn't think it had a big impact, after all, there is still a month to go.

But when I reviewed the market today, most altcoins fell sharply! In addition to the lack of funds in the market. There must be external factors superimposed. This reminds me that in 2021, the Financial Supervisory Service of Korea announced that it would review the historical events of Korean crypto exchanges. There was also a sharp drop on the same day. The market then rebounded.

We have always emphasized the five major factors that affect the market: policy, fundamentals, news, technology, and sentiment. Now is the time when the crypto market is sluggish! The sentiment is negative, and the superposition of policy influences will inevitably accelerate the decline! At the same time, we emphasize that the impact of policy should not be underestimated. Global markets are affected by policies!

But we also found several factors that are about to reverse the market

The news of the US Ethereum ETF is about to make progress, and it is likely to be confirmed! As you can imagine

At the same time, we observed through the market that ETH has experienced a month of correction. The bottom is rising in the early morning of this morning! This shows that the market is getting stronger! This is the superposition of news, fundamentals and technology

Most cottages have experienced a 2-month correction. In a bull market, a 2-month correction is usually the moment of bottom confirmation! Because the market is in a negative market, the physical decline acceleration has not formed a bottomless state under the drive of various negative factors, but will reach the technical bottom of the class reference! This is a signal

Based on ETH's advance prediction, strong performance will happen. The biggest benefit is Ethereum! The second is the Ethereum ecosystem

Like ETHFI, REZ, ETC, ENS, OMNI, UNI. As well as the L2 sector, ARB, OP, etc., will be affected (they are also at the bottom!)

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