BTC fell smoothly last night, and it fell below the previous low of 91200 before rebounding slightly. We are looking forward to a market similar to that of January last year, and a new round of main rising waves will start after plundering the parallel lows. The trend this time is somewhat similar, and it will consolidate sideways after setting a new high. If there is a similar downward pin, the stop loss of the upper long position will be knocked out, and perhaps it can start the next round of rising waves with light equipment. Many people point the finger at Silk Road. In the capital market, news that can be quantified is not really bad news. During the period of Grayscale selling and Mentougou liquidation, the market just tossed and digested it, and it was over. What really scares people is the unknown. Once the cards are clear, the panic will almost be over. ETH, which is not competitive, did not rebound much, but it fell very actively, but it also came to a relatively cost-effective area, which is also near 200MA. If you hold ether and get stuck, just play dead and wait for its narrative to restart. The non-farm payrolls data will be released at 9:30 tonight. The non-farm payrolls data determines whether or not to cut interest rates. However, the Fed has already signaled that it will not raise interest rates last time, and the market has expected that there will be no interest rate cut in January to be over 90%. Therefore, this data may have been negatively affected in advance. When it is released, the market is expected to fluctuate slightly, but it will not be too bad. There is only one trading day left for the US stock market this week. I hope that when the US stock market opens tonight, the ETF data will usher in a wave of bargain hunting.

Reasons for the recent decline:


1. The recent approval by the U.S. Department of Justice to sell Bitcoin seized from the dark web market "Silk Road" is also one of the reasons for the decline


2. Some institutional investors sold large amounts of Bitcoin and other crypto assets, which increased the selling pressure in the market and further pushed prices down.


3. The market leverage ratio is close to historical highs, increasing market fragility. Once prices fall, the forced liquidation of leveraged transactions will exacerbate the decline.


4. The continued appreciation of the U.S. dollar has led to a contraction in the global money supply, which is unfavorable to the price performance of crypto assets such as Bitcoin.


5. The escalation of regional tensions has increased market uncertainty, and investors’ risk aversion has risen, putting pressure on risky assets such as Bitcoin.


6. The non-farm payrolls data recently released by the United States was lower than expected, triggering market concerns about an economic recession, leading to a decline in the global capital market and affecting the cryptocurrency market.


Which potential coins should I choose for bottom fishing during a pullback?

1. AI sector

2. RWA sector

3. Public chain L1 section

4. Meme section

5. Ethereum staking and re-staking track

These are the most important tracks in this round of bull market and have been repeatedly hyped, so we dig deep into these tracks to find potential tokens.

1. Token $APE

It is a currency that has the attributes of public chain, game and NFT. It has been washed for a long time and fluctuated between 0.8 and 1.3 for a long time. The team also made a lot of money in the last bull market, so the dog dealer is not short of money. It is a value currency with unexploded potential. In the long run, 5u is expected to be

2. Refining Metaverse $MANA

It is also a currency that the dog dealer made a lot of money in the last round, and the bottom oscillation time is long enough. The dog dealer has money. Friends who want to layout the game metaverse can give priority to mana, which is called horse milk in Chinese. In the long run, it is 2 dollars.

3. AI Token $IO

This mining has cost, and the cost price of miners is about 1.5. It belongs to the pure AI concept and can be ambushed.

4.L1 public chain sector İNJ

INJ is the biggest potential dark horse in this round of bull market. It has risen from $1 to $50. The currency is fully circulated and has a token destruction auction mechanism. The main network will be upgraded in 2024. It is a currency that can be held in large positions. In the long run, it is expected to reach $100.

5. Ethereum staking track ETHFI

This track consumes a lot of Ethereum. The stronger Ethereum is, the stronger the followers in the pledged track will be. If you want to ambush this track, the prerequisite is to be optimistic about the future of Ethereum and hold long-term positions.