Well-known trader Eugene Ng Ah Sio expressed his views on the altcoin market at X, stating: "Altcoins (Alts) quickly fell back to these levels again within 48 hours after forming wick lows, indicating that investors are extremely anxious about holding spot assets and are eager to sell. The market may enter a longer adjustment phase, or it may decline rapidly in a short period." Note: Wick Lows are the thin lines extending downward from the body in a candlestick chart. In a bullish candle, it is the difference between the opening price and the lowest price of the day; in a bearish candle, it is the difference between the closing price and the lowest price of the day. Generally, wick lows are formed when the buying power is greater than the selling power.