Disaster! The Bitcoin market is undergoing a dramatic change! The MenTouGou transfer stirs the market, increasing the risk of price drops
Recently, the market has been in turmoil, with Bitcoin prices soaring to 100,000 and subsequently experiencing several price drops, leading to a pervasive bearish sentiment. The latest movements from the MenTouGou account have once again stirred the market. Here is an in-depth analysis of the current situation and operational strategies:
MenTouGou Transfer: A Test or the Calm Before the Storm?
According to on-chain data, the MenTouGou account has recently transferred out over 2,600 Bitcoins again. Although the amount is not large, historical data indicates they often first test market sentiment with small transactions before proceeding with large-scale sell-offs. If history repeats itself this time, the market may face greater selling pressure, with the risk of price dropping to 93,000 or even lower increasing.
Analysis of Influencing Factors:
Microsoft Shareholder Meeting Bitcoin Investment Proposal Rejected
The market had high hopes for this proposal, but it ultimately did not pass, leading to further downward pressure on market sentiment.
Market Sentiment Continues to Decline
Without significant positive news to drive the market, the bearish trend is unlikely to ease. The strong support level at 90,000 has become the last psychological defense line for the market.
Short-term Strategy for Bitcoin: Seize Opportunities in Range Fluctuations
Operational Strategy:
Short-term Positioning: If the Bitcoin price retraces to the 93,000 to 92,000 range, consider trying to enter long positions, with a stop-loss set below 90,000 and a target set at 100,000. Timely Profit-taking: If the price approaches 100,000, it is advised to decisively take profits to avoid the risk of further declines.
Risk Warning:
The current market environment is quite complex, and volatility is significantly affected by news, so it is recommended to control positions and set strict stop-loss levels.
Outlook for Future Trends: Consolidation or Continuation Until the Next Rate Cut
The expectation of a rate cut by the Federal Reserve is a potential positive factor for the market, but it is unlikely to materialize in the short term. Before the rate cut, Bitcoin may continue to maintain a consolidation trend, and investors need to be patient while paying attention to market dynamics.
Focus on strategies and wealth codes; opportunities lie within volatility!
Despite increased market volatility, opportunities often arise in times of crisis. Whether you are a short-term trader or a long-term investor, you need to keep a close eye on key support and resistance levels in the market and flexibly adjust your strategies.
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Last night, over 1.7 billion was liquidated, setting the second-highest liquidation record in cryptocurrency history, the last being in 2021. But if you look at the daily chart of Bitcoin, you might feel that the correction is almost negligible. So why did so many people get liquidated? How did so much money just vanish? The conclusion is that most retail investors are trading altcoins, and the average daily decline of altcoins reached almost 20% last night. This tells us that only Bitcoin is the real gold. From my trading perspective, I would only use 5% to 10% of my total assets to take a gamble. From yesterday until now, my total asset drawdown is only about 3-4%. Don't envy those who play altcoins for short-term profits; their wealth could vanish overnight. In the crypto space, surviving longer is more important than making quick profits. $BTC
#加密市场回调

“Altcoin short-term peak signals are frequent, how to avoid risks in December’s pullback?”

Today is December 8, as a key point in December, historical data often shows that after entering the middle and late December, the market will experience a certain pullback. The current market situation also confirms this, altcoins performed flat over this past weekend, and most coins did not see significant gains, even showing signs of a short-term peak. Based on this, I suggest everyone to close positions on those weakly performing altcoins as soon as possible, lock in existing profits, and reduce potential risks.
The reason I published this post is based on sufficient technical reasons: many altcoin indicators have shown peak signals, such as the TD indicator’s daily line 13 peak, with typical representatives being ALT and Auction. In addition, there are some coins like TIA and SOL that have attempted multiple breakthroughs without success, or are unable to effectively rise due to heavy long positions. At the same time, Meme coins were active and surged over the weekend; such sudden movements often indicate a shift in market hotspots, masking signs of adjustments or pullbacks in other coins.
From the mainstream market perspective, the shorts in BTC and ETH have begun to gradually accumulate pressure. Although overall, mainstream coins are unlikely to experience significant declines, there might be slight pullbacks or sideways consolidations in the short term. In contrast, altcoins carry a higher risk and may face a more severe reshuffle. Meanwhile, with Christmas approaching, the US market may see some funds cashing out, further exacerbating adjustment risks.
Although the overall trend of the bull market has not yet ended, ETH and its ecosystem’s altcoins still possess huge explosive potential in the future, but at the current stage, holding onto chips and waiting for the right opportunity is clearly a more prudent strategy. Risk management is a must for every investor.
It should be particularly noted that my analysis may not be completely accurate, and market conditions may “slap back.” But I always follow my judgment and plan to gradually clear out weakly performing altcoin positions before the end of next week (i.e., December 15), leaving at least 30%-40% of the position free to better protect funds and wait for opportunities.

#山寨季将持续多久？