In the last 24 hours, a total of 545,336 people have been liquidated globally, with total liquidation amounts reaching $1.649 billion. This data clearly shows that this is the largest liquidation data in cryptocurrency history, with the highest number of liquidations.
Let me remind everyone again that a crazy bull market is the best opportunity to make money. However, my experience over the past 7 years tells me that during a true crazy bull market, 98% of retail investors lose the most money.
Many people only focus on offense during trading, with leverage ranging from 3x to 100x, hoping to make a million as soon as they open a position! Such trading will only lead you deeper into losses.
This plunge has really left many people stunned; many fans are confused about the market. Next, I will analyze the current position of the market and altcoin trends from five perspectives:
(1) Historical data
From the first image, the altcoin season of 2020 started on December 28, 2020, and the altcoin season of 2024 is set to start on November 18, 2024. I have marked our current position in the image.
(2) Pi cycle top indicator
The first intersection appeared on April 15, 2021, and so far in 2024, no intersection has occurred yet; the peak is still far off.
(3) Bitcoin Ahr999 indicator
In March 2021, the AHR999 reached 9. Today's indicator is only 1.48, a huge difference.
(4) Liquidation data
In the last 24 hours, a total of 545,336 people have been liquidated globally, with total liquidation amounts reaching $1.649 billion. Today, altcoins suffered huge losses, with liquidation amounts hitting a historical high, far exceeding 3.12, 5.19, and this year's 8.5. As BTC's price rises, liquidation amounts also increase, and the futures market matures.
(5) Bitcoin ETF inflow data
The Bitcoin ETF that ended early this morning is still seeing positive inflows, with funds reaching $500 million. Bitcoin started to decline yesterday, but large investors continued to buy, showing no signs of retreat. The fundamentals remain strong.
In short, after a few days of fluctuation, the market will recover, and then the music will play on. Be aware that the market may still experience sharp spikes or rebounds. In my personal view, it is very difficult to break below the 93,000 level.
Seize the opportunities that arise after the plunge! Learn to view the market rationally, and don't be a retail investor chasing highs and cutting losses! Currently, the coins that can be bottomed out are:
1. ETH
This month's Ethereum online meeting will have updates, and there will be an upgrade in March. With strong positive news, doubling the price is not a problem! Entry points: 3650—3700.
2. SOL
Now is the time to lay the groundwork in advance. Altcoin season will explode with an increase in on-chain currency usage. Entry points: around 210.
3. PEPE
Altcoins outperforming Bitcoin, although they have already broken their previous highs, doubling again shouldn't be a big issue. The trend also looks promising. Entry points: around 0.21—0.22.
4. DOEG
The most asked-about altcoin by group members shows that interest is undiminished. Before Musk took office, the outlook remained bullish. Friends who haven't entered the market can now do so. Entry points: around 0.39—0.40.
That's all for today. During the bull market phase, many people hope to have a discussion. If you really can't navigate the crypto space by yourself, don't force it. Come find me for guidance, understand the latest information, strategize, embrace the bull market, increase your win rate, and say goodbye to being trapped at high positions.
