#加密市场回调 The market is slightly adjusting, why are altcoins crashing so badly? Is the bull market over?
Let's discuss the current state of the market.
BTC surged to a high of 100390 last night before starting to decline, dropping to a low of 94150 at 5 AM, then rebounding to 97000, followed by another drop to 94800, and finally rebounding to 98100, now stabilizing around 96000.
From BTC's performance, the support in the 94000-95000 range is quite strong, indicating a lot of bottom-fishing. Just keep an eye on this position for the next few days; if it drops further, it might reach 91000.
ETH also dropped alongside BTC, falling from a high of 3950 to 3500 last night, a drop of 450 points, over 10%. But 3500 is a strong support for ETH; as long as it doesn't break, it remains a good opportunity to build a position. For spot trading, the medium to long-term outlook is positive; you can build a position at 3550-3600, and add more at 3250 and 3000. Spot trading is simple; just buy and hold.
Why are altcoins crashing so badly? Mainly because ETH failed to break through 4100 and started adjusting, dragging altcoins down with it.
Among the currently popular coins, only ETH and DOGE have not broken their historical highs. I've been saying that the market would adjust this month, and it seems the monthly adjustment hasn't occurred yet.
This adjustment for altcoins is quite normal; continuous rising without adjustment makes it harder for the trend to sustain. A washout is inevitable; if this drop is a monthly level adjustment, altcoins will drop once more, but the bottom will be reached soon.
What to do next? For those without positions, it's time to start building positions in altcoins, entering in several batches. Enter 30% now, add another 30% if it drops 20%, and buy the remaining 40% if it drops another 20%. Just buy and hold for spot trading.
In the short term, pay attention to Microsoft's BTC purchase vote; if it passes, it will be a positive signal, and BTC may surge again; if it doesn't pass, the impact will be limited; the market won't experience significant fluctuations due to this news.
The key focus remains on the interest rate decision at 3 AM on the 19th; a 25 basis point cut would meet expectations, and the market will move accordingly; if there is no cut, it will be negative, and the market will take a hit. A rate cut is highly probable.
#市场回调抄底还是观望? For the upcoming layout, I will guide everyone in targeting the lucrative opportunities in altcoins, especially those with high potential projects, with an expected upside of over 10 times being quite feasible. If you want to make big money in this bull market, like and comment, and I'll help you navigate the entire bull market!