Regarding altcoins, I think the upcoming market will be very contradictory:
1. I believe the sharp decline is due to the market's reaction to Powell's speech leading to a collapse in liquidity, but more importantly, the feedback from Mstr's inability to continue purchasing BTC in the short term. The corresponding indicator is the outflow of BTC ETFs, and this uncertainty may last until January.
2. The situation for altcoins is very complex; most market makers are definitely not active.
A small portion of project teams have provided buying liquidity to absorb the selling pressure, so they basically haven't fallen. A small portion of consensus-driven project teams have made trades, and those who supported the rebound at the bottom have done so most aggressively. This wave clearly shows who truly has consensus and who pretends to have consensus. Moving forward, we should focus on the projects that genuinely have consensus.
Generally speaking, after a sharp decline, most players' fear levels will increase. Therefore, when considering whether to buy the dip, they might think about selling if it doesn't return to the original position. This wave of BTC's decline basically indicates that the mainstream market has ended, entering a phase of altcoin competition. In this situation, PvP will become more intense, so be sure to think carefully before taking action.
