Yesterday, news broke that Trump will be tried on January 10, causing a crash in both the US stock market and the cryptocurrency market. Furthermore, it is highly unlikely that interest rates will be lowered in January.

Bitcoin's daily chart showed a significant bearish engulfing pattern and broke below the support levels of the 5-day, 10-day, and 30-day moving averages. From a technical perspective, after some sideways consolidation, there will likely be further declines.

At this time, it's best to keep spot positions as low as possible, waiting for an oversold condition, and when the time comes, prioritize catching rebounds with Bitcoin and a few other strong cryptocurrencies.

The altcoin season has turned into an altcoin funeral, leaving only Bitcoin and a few quality leaders.