The long-awaited nighttime crash in the cryptocurrency market occurred on the night of July 24th.

The initial reason came from the sharp drop in the US stock market, which also caused bloodshed in the cryptocurrency market. This panic sentiment covered the global financial market, including our A-shares.

The market has different explanations for the reasons for the big drop. It doesn’t matter whether it is right or wrong, because the results show that everything is right.

Therefore, there is no need to dwell on this issue. What we should really think about is: how will the subsequent market develop? Will it rise or fall?

Today's article will share some personal views from the technical and news perspectives. Investment is about evidence and experience. Many people may think it is speculation, but as long as the results meet expectations and can help us get results, then these are valuable.

From a technical perspective:

Bitcoin fell from March 13 to July 5, with a low of $53,500. This was the largest drop from 2023 to 2024, and the longest duration.

During this period, the panic sentiment also broke through the historical low, reaching 23, and the number of long orders liquidated has always been in an absolute leading position.

Moreover, the decline of altcoins in the past year and a half has been very large, and they are close to the historical lows. Many people who speculate in cryptocurrencies have been deeply trapped.

The most important point is: there were many major positive factors during this period, but they turned into negative factors time and time again, such as Bitcoin halving, Ethereum Cancun upgrade, Etf passing, etc.

These facts are here, but the final result is a big drop again and again, which makes the market doubt whether there is still a big bull market.

However, looking at the market trends over the past year and a half through the weekly chart, the top 100 currencies by market capitalization have not shown the trend of continuously breaking previous lows as in 2022. On the contrary, the highs and lows are rising again.

Especially after the bottom on July 5, it rebounded quickly, and the trend is very close to that of Ethereum. Through past observations, when the weekly levels of the top 100 currencies by market value are synchronized, it means: the real big trend is coming

From the news perspective: Mentougou, the German government, and Grayscale Fund have all been selling Bitcoin and ETH recently, and they sold them when the market crashed in early July. Logically, the market should have fallen earlier, but the fact is that the market has risen.

This is due to the continuous purchases by institutions such as BlackRock. They sell and buy at the same time, but the final price is mainly rising.

This shows that there are some differences between institutions. It can also be understood that at a certain stage they are partners, and at a certain point they become counterparties. This is inevitable in the financial market.

Although the market fell last night, it does not mean that the market is completely over. On the contrary, this kind of operation of large funds entering with one hand and exiting with the other is just to wash out the contracts and wash out the retail investors who are not firm in their will and speculative.

When the chips are really exchanged enough, all that is needed is an east wind, and these value coins that are ready to go will ride the wind and waves.

Combining the above analysis and past experience, I would like to use the words of Mr. Buffett: When others are fearful, I am greedy.

The current decline is not that big, but the fear it brings is deeper and more terrifying, which shows that the market has been cultivated into inertia.

As long as the good news is realized, it will be bad news. Once the bad news comes out, it will inevitably fall. This is the same as the psychology during the transition from a bull market to a bear market. As long as there is a pullback, it is an opportunity to add positions. This is why many people have always believed that the core of the bull market in the first half of 2022 is still

The current market is actually no different from that in 2022, just the other way around. Everyone thinks there will be no big bull market in 2024, or it won’t come that early, but the facts must be against human nature. Time will tell.

The darkness before dawn always makes people suffocate; because people have been shrouded in darkness for too long, their inertia becomes deeply rooted.

When most people lie down and accept their fate and give up, even if they see the sun, they will think it is an illusion.

Therefore, the real test in the second half of 2024 lies in your own heart, because only by believing first can you see the big bull market and the beautiful dawn#ETHETF #门头沟 #山寨季何时到来？ $PEPE $WLD