Market observation summary for February of the secondary crypto market
#MVC 1/ On the occasion of the Lunar New Year, I wish all readers a happy, healthy, and successful new year.
2/ From a market perspective, although the liquidation of positions was completed last year, the stagnation of the crypto market remains concerning. As of now, there are still no signs indicating that this deep correction will end. The liquidation of large investors using leverage at the end of January was merely a temporary phenomenon creating demand through high volatility, and the liquidation of old crypto tokens has been accelerating further.
3/ Looking ahead, we are not optimistic about crypto assets in the short term, but overall, we tend to view this correction as a continuation of the price adjustment that began at the end of 2024. For Bitcoin, the currency that has led the increase of dollar-denominated assets for two consecutive years, this correction does not change the upward trend since 2022. In the international market, we are optimistic about the performance of industries related to non-ferrous metals and some companies benefiting from breakthrough industries driven by artificial intelligence throughout this year.