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Last night's market once again brought us a thrilling day—after a week of shouting 'bull market return,' a single crashing candlestick shattered all hopes. Bitcoin (BTC) once slid $7,000, breaking key support, and market sentiment fell to rock bottom. So, can the $90,000 support for BTC hold? Can altcoins be saved? Let's conduct a deep review together.


📉 BTC drops $7,000: Can the $90,000 support hold?

Yesterday, the price of BTC plummeted by $7,000 in just one day, causing chaos in the market. Prior to this, the market generally expected BTC to rise, but reality gave us a harsh slap. The current price is approaching the key support level of $90,000, and panic in the market is escalating.


Key Support and Resistance:

Support Level: The $90,000 level is an important psychological barrier and is where most investors hope BTC can stabilize. If it breaks below this level, it may trigger a deeper correction.
Resistance Level: The current resistance level is around $105,000. BTC needs to break through this point to possibly restore the upward trend.

From a technical perspective, BTC's trend is still full of uncertainty. Whether the $90,000 support can hold depends on the upcoming market sentiment. If panic spreads in the market, BTC may test the lows again.


🦣 Can altcoins be revitalized?

With BTC's sharp decline, altcoins have once again fallen into a trough. Many popular altcoins, such as Ethereum (ETH) and Solana (SOL), have also shown significant retracement. This sharp drop has shaken the market's confidence in altcoins again.


The Fate of Altcoins:

Ethereum (ETH): ETH has shown relatively strong performance, but in the context of BTC's crash, ETH's retracement has also been significant. Despite ETH's strong fundamentals, it may still be affected by BTC's price fluctuations in the short term.
Solana (SOL): SOL has shown some signs of rebound recently, but still faces pressure from the overall market downturn and may continue to fluctuate in the short term.

Overall, the recovery of altcoins still depends on the stabilization of BTC's price. If BTC cannot effectively rebound, altcoins will continue to be limited, and market risk appetite will decrease.


📊 My trading strategy and market review.

Yesterday, I also participated in some trading operations, especially during the times of intense BTC price fluctuations. Reflecting on this trading process, there were indeed some mistakes. For example, I shorted at 109 but did not catch the optimal short point and missed out on more profits. However, this does not affect my overall strategy, as I always adhere to a steady approach.


Main Operations:

Squirrel (pnut): Recommended operating at the 0.7 pnut position. Although the price fluctuated, I was not frightened by the market's volatility, chose to hold my position, and successfully increased my position by 0.5 lots at a low.
Risk Control: For the market's violent fluctuations, I maintained a cautious attitude to ensure that risks remained controllable.

💡 Summary: The current market remains uncertain, and operations should be approached with caution.

The recent market crash reminds us once again that the volatility in the cryptocurrency market remains huge. Whether BTC can hold the $90,000 support and whether altcoins can recover are still unresolved questions. For investors, it is best to remain cautious in the short term and avoid blindly chasing highs and cutting losses.


If you already hold altcoins like PEPE, the current drop may be an opportunity to increase your position, but you must also recognize the risks and allocate positions wisely. The market is ever-changing; staying calm and executing precise operations is key to coping with this market turbulence.


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