The current trend of altcoins is generally bearish, with most in a downtrend.
SOL, as the leader of this bull market, has seen its gains far exceed those of BTC and ETH, but the SOL/BTC exchange rate has already broken down, and on-chain meme performance is also lackluster. Meme coins like PEPE, DOGE, PNUT, and ACT are similarly in a bearish trend, and it is advisable to reduce altcoin positions, exercise caution, and avoid heavy trades.
For long-term investment, Bitcoin spot remains a relatively stable choice. Even if the BTC price fluctuates between 90,000 and 110,000, if it pulls back to 90,000, altcoins could face a new round of a -30% crash. If it falls below 90,000, the consequences could be even more dire.
Currently, the weakest performers may be BTC, TON, and the meme coins listed on exchanges within the SOL ecosystem. Rather than blindly chasing the upswing (FOMO), it is better to stay calm and observe market trends.
Looking back at the bull market cycle, the performance of altcoins from March to September this year has been disappointing, as there has been no widespread rally and very few rotation opportunities. If this is the case during a bull market, the prospects for altcoins during a major correction are even bleaker.
Therefore, I choose to reduce positions in some altcoins and retain strength to respond to future changes. Survival in the market is crucial, and I wish everyone success in seizing opportunities and making significant profits!
