After the announcement of today's Federal Reserve interest rate decision, the cryptocurrency market began to plunge, with Bitcoin nearly falling below the $100,000 mark, and Ethereum similarly dipping to $3,617.
Since the market hit 90,000 in this round, there have already been three rapid drops, and today marks the fourth. It can be said that the previous three rapid declines consumed a lot of buying pressure, so there hasn't been much buying pressure after this drop, and instead, a downward trend has appeared after consolidation, which effectively buried another wave of bottom-fishing funds.
As long as there is no crash, a few points of decline are beneficial for the overall long-term bullish development, after all, some profit-taking needs to be realized. If you get liquidated after a few points of decline, then it’s time to seriously reconsider your trading strategy.
The best scenario for Bitcoin is to rebound to around 103,000, while Ethereum (ETH) is sure to gradually rise. Below 3,700 is actually quite suitable for small long-term investments, and when it returns above 4,000, those with a small risk appetite can sell some and wait for a correction. The market is about to switch to 'defensive mode'... smaller coins have even less to say, with large exchanges averaging over five projects a day and on-chain averaging one project per second; no amount of money is enough to accommodate the influx. During altcoin season, it's better to respect the facts rather than be overly rigid.
Can we bottom fish now?
I think there's no rush to bottom fish; you can adopt a strategy of buying more on big drops, buying less on small drops, and not buying at all when prices are stable to gradually accumulate low-priced chips.
The current market situation is that Bitcoin and Ethereum have support from spot ETFs and traditional large capital, resulting in a considerable amount of buying pressure below, so they won't drop much.
However, most altcoins lack support from large capital, so once they fall, there are no support levels, primarily depending on market sentiment.
Recently, new coins on Binance have lost their profitability effect, basically seeing prices drop continuously after listing, with the speed of halving increasing. During periods of insufficient market liquidity and low sentiment, it is recommended not to engage with new coin projects on Binance. We can mainly position ourselves in projects with long-term narratives. From the current trend, if Bitcoin continues to correct, altcoins might drop even more severely. Therefore, it's crucial to manage positions well and keep some funds available for the Christmas correction.
The bull market is not over! Three major cryptocurrencies represent a 100-fold opportunity for future bottom fishing!
NEIRO
NEIRO relies on Ethereum's powerful ecosystem and focuses on innovative application development, possessing breakthrough technological advantages. Low market cap, high potential: based on the current market cap, NEIRO has the potential for a hundredfold or even thousandfold growth in a bull market. Such investment returns can only be provided by a few coins.
Community Support: Neuron has a passionate and continuously growing community, which is the biggest driving force for the growth of small-cap coins. Currently, prices are low, so patiently wait for the golden opportunity to enter. Looking back, many hundred-fold coins were also underestimated at the beginning, but those investors who seized the opportunity reaped substantial returns.
WIF
The WIF EMA line currently shows a bearish pattern, with the short-term EMA below the long-term EMA. This setup indicates that downward pressure persists, and WIF may test the support level of $2.19. If it fails to hold this level, the WIF price may further decline, potentially reaching $1.85 as the next important support level.
On the other hand, if the WIF price can reverse the downward trend and regain positive momentum, it may challenge the resistance level of $2.91. Successfully breaking this level could pave the way for further increases, with a target price of $3.47, and if the uptrend strengthens, it could even reach $4.
ENS
The creators of Ethereum Name Service (ENS), ENS Labs, are taking significant measures to enhance scalability and accessibility. By the end of 2025, they plan to launch Namechain, a Layer 2 aggregation network aimed at making ENS cheaper and more widely available in the Layer 2 ecosystem. This bold move underscores ENS Labs' commitment to innovating decentralized naming systems that link human-readable names with cryptocurrency addresses.
ENS has consistently attracted attention with its forward-thinking approach. Although this year the token has faced challenges in breaking through key resistance levels, recent developments suggest it may experience a turnaround. If the current trend continues, the price of ENS could soon rise significantly again.
