Overall, the market is still in a downward trend, and there has been no major change for the time being. The daily MA120 trend broke last week, and the weekly MA20 has also temporarily broken since the close this morning. However, the daily line has been oversold again. The last time was when it was 28,000-29,000 in August 2023.

From the important events of this week, there are two key data: one is the PCE index at 8:30 pm on June 28 (basically equivalent to CPI), and the other is the consumer confidence index at 10 pm that day. These two data may have a further impact on the expectation of interest rate cuts.

This round of market decline, on the surface, the cottage fell badly, but in fact it may be a valuation regression of a single currency. As we all know, among all exchanges, the tokens launched by Bian are often valued higher by the market. In the current situation of insufficient liquidity, valuation regression is more likely to occur.

Therefore, the market shows that the overall altcoin market value itself has not fallen much, but the single coin has fallen a lot. The core reason is that there are more altcoins and the overall valuation of altcoins is high (mainly because the new coins of large exchanges occupy a large market value).

Therefore, for the current altcoin market, try to hold coins with less potential selling pressure or high circulation market value within one year.

There are still opportunities in the new round of altcoin market, but there will be major changes from the previous round, and the difficulty of stock selection will be higher, which will test how each of us choose.

Therefore, the idea is that for the altcoin market, keep some bullets and wait for the possible right-side opportunities to come before entering, that is, the left side continues to enter the optimistic leading targets, and some emerging targets will wait for the right-side opportunities to come again.

The left side configures the leading stocks for certainty, and the right side is to follow the market funds and for certainty.

If you want to know more about the relevant knowledge and first-hand cutting-edge information of the currency circle, follow me. Junyangli publishes market analysis and recommends high-quality potential coins every day.

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