Bitcoin almost plunged below 90000 this morning, and various groups started shouting 'crash, run fast.' Many families privately asked if the bull market is about to end and how things will go from here.
The current adjustment of Bitcoin is inevitable; on one hand, it is digesting profit-taking from the 66835-99588 range, making it easier to rally. On the other hand, during the festive season, institutions distribute bonuses, and retail investors need funds for the New Year, causing capital to flow out of the crypto market, leading to a market correction. Bitcoin's next strong support level is at 88000, and it may drop to this position, then consolidate for a while before continuing to rise.
Bitcoin is declining, which is the most favorable time for altcoins.
According to historical patterns, seven months after each halving, the altcoin season begins, and Bitcoin's dominant position starts to collapse. This halving is in April, so seven months later it will be November-December, when altcoins will surge violently but also rapidly. Many families who missed out did not plan in advance to catch up and can only chase at the peak, so after selecting quality targets, we must hold on tight!
After Bitcoin's market capitalization ratio to altcoins reached a recent high of 61%, it hit the weekly resistance level from previous years and is currently retreating as expected. As the size of the altcoin market increases, Bitcoin's market cap ratio will inevitably be diluted by the cycle.
The market capitalization of Bitcoin in this wave has reached its peak. Macro-wise, as the probability of interest rate cuts in December increases, the greenhouse effect of funds in the crypto circle will become more pronounced. Therefore, I believe December will be the real explosion month for altcoins. By then, sectors like MEME, RWA, and blockchain games will fully enter a new stage of explosion.
Targets to buy in the future:
BTC: The US is going to treat Bitcoin as a strategic reserve, and a large amount of funds is about to flow in. At least allocate 20%-25%.
UNI: The public chain will go live later this year, and node operators will need to stake UNI, which will be used as gas for the public chain.
BNB: Binance will continue to promote new listings, and all of Binance is working for BNB.
STX: The mainnet upgrade is complete, and the long-term target is $3.
CHR, long-term target $1, various ecosystems are in development, focusing on gaming public chains, benchmarking against IMX.
FTM, the project has strong capabilities, the target of $1.1 has been reached, and it is advisable to sell 20% first, with the next target at $1.3.
DODO, a decentralized trading platform, is about to launch its public chain.
DOT is set to undergo a 2.0 upgrade, with speculation expected, and a separate public chain will be launched next year. The target is $11.
