Yesterday morning, Powell's words shocked over 200,000 people. They thought that after the storm, there would be no more storm, but unexpectedly, the bears struck back with a vengeance. The Federal Reserve has no intention of participating in any plans for the government to hoard large amounts of cryptocurrency.
In addition, the Federal Reserve's meeting lowered the interest rate cut expectations for next year. As a result, the rapid decline in cryptocurrencies has already experienced four quick drops, and today's drop can be considered the fifth.
It can be said that the first four quick drops consumed a lot of buying power, so after this rapid drop, there hasn't been much buying power seen in the market; instead, there has been a continued decline after consolidation, which effectively buried another wave of bottom-fishing funds.
In the short term, it will be relatively difficult to return to a strong position. The overall market enthusiasm was too high for a while. Unless something unexpected happens, this time the market, driven by the knife handed over by Powell, should be completing the strongest cleansing before the rapid completion of the altcoin bull market. However, after this wave, a greater wealth effect is about to arrive. Currently, no matter how embarrassing the situation is, as long as one does not perish, one will eventually stand on the highest stage.
The operational advice is not to blindly bottom-fish, not to follow the trend for buying and selling, to lay out mainstream positions, avoid high leverage, manage positions well, watch more and act less, and go with the flow.