What will happen next on the market, and what are the preliminary signals for stopping the decline:
Since Powell's speech today, the market has been weaker than expected. Since it reached 90,000 in this round, there have already been three rapid declines, and today marks the fourth.
It can be said that the previous three rapid declines consumed a large amount of buying power, so after this rapid decline, there hasn't been much buying power seen in the market. Instead, we are witnessing a downward trend after a period of consolidation, which effectively buries another wave of bottom-fishing funds.
In terms of Bitcoin, there hasn't been any significant change in the fundamentals, and institutions continue to increase their holdings. It is expected to consolidate around 100,000, and in the long term, it still needs to continue moving upward. The continuous decline has also been low in volume, which can be seen as continuing to consolidate within this range. Any upward movement must be solidified before moving to the next step.
On this basis, if it can dip below 100,000, it would be possible to enter the market in batches with cash, all the way down to 85,000.
The weakness of Ethereum has exceeded my expectations; not only did it follow Bitcoin's decline, but it even fell faster than Bitcoin's exchange rate. It truly failed to keep up when prices were rising and dropped even more when they fell. However, due to the relatively small profit margin, the rebound momentum in the future may be greater than that of Bitcoin.
