If Trump loses, then I'm finished.
This is not what I say; this is what Musk, Trump's biggest supporter, said.
Why do I say this? It's simple. By the end of last month, Musk had already spent 1.32 small targets in dollars for Trump and even used cash to influence the vote (drawing one million daily). If Trump loses, Musk will face multiple charges, and the Dogecoin he supports will also be impacted.
Today's BTC market analysis: from the K-line perspective, the 1-hour level is bullish, the 4-hour level is bullish, the 12-hour level is bearish (already showing signs of stopping the decline), and the daily level is bearish. The intra-day resistance level is $70,000, and the support level is $67,300.
Why are people still asking if there is an altcoin season?
This question is really naive! First, let me clearly tell you!
There will be altcoin seasons, and there may be explosive growth or new sectors emerging!! However! Not all altcoins will rise! Some coins have already lost their momentum!
Some coins have become DAOs!! Some altcoins will only result in delisting notifications, not explosive growth!! Stay awake in this world! You must be!
In this market, only BTC and ETH have relatively stable fluctuations! It is better to bottom fish some quality coins and gradually place orders! Do not hold onto altcoins blindly, as what you think is a good coin could actually be garbage!!
Rationally view and refuse FOMO.
Which altcoins will take off after the election?
The most directly related altcoins during the election are MAGA and kama, which are the exclusive altcoins of Trump and Harris respectively. With Harris's temporary lead, kama has shown three big green candles starting this month, while Trump's MAGA has dropped from the end of last month until now, and Musk's Dogecoin has had similar performance. This reflects the narrative of meme coins, influenced by online trends and celebrity endorsements.
The success of meme tokens has created many stories of wealth, but it is important to remind everyone to be cautious and not blindly follow the trend.
Cryptocurrency market crash, 100,000 people liquidated...
In the past week, the cryptocurrency market has experienced severe fluctuations, with Bitcoin facing massive sell-offs and prices rapidly declining, consecutively dropping below the key levels of $73,000, $72,000, and $71,000, ultimately breaking below $70,000 and reaching as low as $68,272 per coin.
Other coins in the cryptocurrency market have all fallen sharply.
BAN has dropped 35% in 24 hours, SUI has dropped 5% in 24 hours, PEOPLE has dropped 9% in 24 hours, LISTA has dropped 14% in 24 hours. According to CoinGecko data, the total market value of cryptocurrencies has fallen below $2.3 trillion, with a 24-hour drop of nearly 2.13%, evaporating over $88 billion (approximately 63.01 billion RMB) in market value. According to Coinglass data, in the past 24 hours, over 100,000 people were liquidated in the cryptocurrency market, with a total liquidation amount of $235 million, including $194 million from long positions and $40.45 million from short positions. The largest single liquidation was $9.97 million.
The situation of liquidation is vivid; I advise all coin friends not to touch futures, just seek steady progress, and do not aim for soaring high. Life is short; avoid detours and cherish the present. Futures may be temporarily enjoyable, but eventually lead to zero at exit.
The recent market has made many brothers quite anxious.
The structure of this round of Bitcoin market is clear. Whether Trump or Harris wins, it will not disrupt the market structure. Market makers are responsible for market trends and maximizing their own interests, not for Trump or Harris.
Therefore, after the election results are announced, the market volatility may be far lower than most people's expectations. This has been verified countless times, such as on the night of interest rate cuts, or when Trump participated in the Bitcoin conference, etc.
Retail traders' fantasies are: - If Harris wins, Bitcoin will drop by 50%; - If Trump wins, Bitcoin will surge by 100,000.
The most likely scenario is that after the election results are announced, there will be a spike either up or down. The market will continue to follow its existing trajectory. The structure of the Bitcoin market has undergone a complete series of actions, including a half-year-long decline, consolidation, forced liquidation, and accumulation. It will not be disrupted by any single event.
The benefit of the U.S. elections for market makers is to leverage both sides, increase volatility, and foster market divergence, providing stories to tell. The U.S. elections are, after ETFs, the most favorable tool for market makers to tell stories.
I still hold the same attitude; I won't act until I see the rabbit.
Overall strategy:
Spot: Before the election results are announced, abandon the futures market; if trading spot, it should only be with small positions and short-term trades, so one must pursue very satisfactory levels or patterns before acting; if not, choose not to trade.
Altcoins: All altcoins have already been beaten down above their cost prices, the next entry point for purchasing is: when the external environment stabilizes, Bitcoin's price trend stabilizes, and after Bitcoin breaks above its previous high and confirms the start of a major uptrend, then proceed with the second batch.
In the past three months, apart from meme tokens, none of the so-called value coins have performed well! This has dealt a significant blow to the market!
