Last night, BTC retreated sharply, breaking the 30-day moving average of 98.7k and temporarily reaching around 96k. It turns out that a paper tiger is also a tiger. For reasons related to the macro situation, friends who follow my recent articles and join the internal group should be clear:
One is the panic caused by Google's Willow quantum computer some time ago.
Second, the Federal Reserve gave negative expectations for future interest rate cuts in the early hours of yesterday. The next 1-2 weeks will be the stage for digesting this news.
Bitcoin drops to 95,700, how low will it fall? Where is the bottom?
Friends who have been paying attention to the K-line recently may have noticed that BTC has been trading sideways at a high level for 35 days. The bottom has gradually risen. Although it once broke through the 100,000 mark on December 5 and the price fell back to around 90,500, the subsequent decline has remained above 94,000. It was not until the "black swan" event of the Federal Reserve meeting that the market showed some fluctuations.
However, let's look at it from another angle. The current market decline seems to be coming to an end. Even if the price falls below 94,000 and rebounds quickly, it is not considered a real support break. Looking at the on-chain data, BTC's URPD shows that there is strong support in the price areas of 94,000 and 95,000.
Moreover, there is another exciting news, that is, the United States may include BTC in its strategic reserves, and the future market is expected to be boosted. In summary, although the current market adjustment makes people feel uneasy, from the overall trend, the opportunity for a rebound still exists.
After all, data is dead, but human emotions are alive. Now it is a high-level shock waiting for a new direction. The new direction is Q1 next year.
Who is the butcher and who is the meat in the cryptocurrency world? Where are the opportunities for copycats to make money?
In a zero-sum game market, one person's money goes into another person's pocket. Whether it is a long bull or a long bear, this essence will not change. The market is always changing, so everyone's opinions are also always changing. Don't think that being optimistic last month but pessimistic this month means you are not firm or are just a fence-sitter.
When did ETH start to become strong? I think it was after several rounds of big liquidations that the market bulls basically surrendered, especially on November 21, when I felt that ETH's rebound was coming. The situation of ORDI coin is somewhat similar, the market bulls are almost cleared out, and there may be a rebound in the future. However, as a leader in the public chain, ETH's fundamentals are much stronger than ORDI, so it is not fair to compare directly.
If you have the ability, you might as well try some new coins, and you may have the opportunity to make money faster. I believe that the Bitcoin ecosystem will never be absent, and it is also a good choice to properly allocate some Bitcoins, and you don’t have to be limited to a single track.
If you want to catch a deeper bottom, it is recommended to pay attention to the decline of BTC at 95,700 and the fluctuation of altcoins. I mentioned the position management method before. You can choose to split the position or increase the position at one time according to your personal habits. In addition, some ideas about the strategy of bottom-fishing are also shared in previous articles. If you are worried about market fluctuations, it is also okay to wait for a more stable time to enter the market. After all, no one can buy at the lowest point.
In short, the spot market can wait and see, retreat to advance, and respond flexibly to market changes!
