The sharp drop after the interest rate cut meeting was largely caused by Chairman Powell's speech, which was unexpectedly hawkish. The hawkish comments directly led to a collapse in global markets, not just in the cryptocurrency sector, but also a significant pullback in US stocks. The crypto market is currently at a relatively high price, and market sentiment is heavily bullish, with a lot of leverage, so the decline is also considered a natural occurrence!

As for the attitude in the subsequent speeches, the possibility of further interest rate cuts has become an uncertain variable, and future decisions will still rely on economic data. The market performance is a short-term negative, and such a significant impact will gradually be digested over time. In the short term, as long as the position of 9.8 is maintained, the overall upward trend has not been broken. Treat it as a healthy pullback in the short term, which was mentioned previously; those who missed it can check my posts from a few days ago!

Now looking at Ethereum, it typically follows the market down but does not rise; it's a bit like the incapable Liu Bei! Ethereum's price movements have always been dramatic, and this level of retracement has occurred multiple times just this year. The critical level for Ethereum remains around 3500; as long as it does not break this level, it is a very good short-term buying point!

Regarding altcoins, new projects are coming online too quickly, and investors don't know how to choose. The first moment a new project launches often results in a price dump for profit-taking, which is puzzling. When Big Brother was in custody, it wasn't like this; why is it happening now that he's free? Is funding tight for Anan?

Every significant pullback presents an opportunity for averaging down and entering the market. If you seize these opportunities, you will be different from most people. Opportunities are given to those who are patient; the market will always provide signals before a rise. The key is whether you can identify the right time to enter. Christmas is approaching; once the holiday is over, the market will eventually return to the familiar state!

If you enjoy contracts, like to study market trends, and research technical analysis, click on my profile. With years of experience and skills in the cryptocurrency sector, I'm here to share for free. I'm waiting for you in the community, online anytime, and welcome to discuss and improve together.