The current cryptocurrency market is facing many major challenges, especially from the strict regulatory pressures of the United States and Europe. These regulations have made market makers and exchanges hesitant to intervene or support the prices of altcoins. Therefore, it can be affirmed that the prospect of a vibrant "altcoin season" this year seems very unlikely 👌

TheBlock's cash flow analysis shows that the cash flow into the market is currently quite weak. For the market to explode and grow strongly, a large amount of money needs to be poured in to push the price up. However, with the current gloomy picture, this possibility is unlikely to happen in the short term 😅

Investor sentiment will become extremely depressed if $BTC continues to fluctuate in a narrow range from 54k - 64k, while altcoins continue to plummet to find new bottoms. This is especially severe, as most investors have suffered significant losses from investments in #altcoins 😅

I myself used to hold $ETH at a low price, but to minimize risk, I decided to transfer all to #Bitcoin . This helps me preserve my capital better against possible major fluctuations in the market 😁

Tonight there is a report on CPI in the US, everyone be careful with firewood 😉