The daily line shows a small bearish candle with upper and lower shadows, and the trading volume is slightly higher than the day before, which is a normal downward adjustment trend.
The bearish candle on the daily chart is starting to shorten, showing a candlestick pattern similar to a doji, and the downward momentum is decreasing. It will not continue to decline here; after a wave of consolidation, there will be a rebound.
The height of the rebound is in the range of 96,000-98,000.
The focus is not on Bitcoin, but on altcoins. Altcoins did not amplify their declines when Bitcoin fell yesterday; in fact, some strong altcoins even saw crazy increases against the trend.
The main players in altcoins are getting impatient; if they don't take the chance to go crazy now, there will be no opportunity left. Keep an eye on the low-increase altcoins at the bottom, as they will all have catch-up movements.
Is the altcoin season about to arrive?
Bitcoin is consolidating at $100,000, MEME coins are adjusting, and funds are rotating into altcoins, bringing market activity.
During this period, many obscure old coins have surged significantly because their institutional holdings are concentrated, making them easy to pump.
From a fundamental perspective, ETH's on-chain activity and demand have not changed; gas fees are still at historic lows, inflationary pressures persist, and high FDV in altcoins, along with the continuing unlocking disadvantages, have not changed. Therefore, the market is still in a rebound and catch-up phase.
It is important to note that this time the altcoin sector is just a rebound; there is good space but it is still necessary to take profits unless Ethereum sees significant application innovation, a trend-driven bull market arrives, or a new innovative sector emerges in altcoins, where the market has funds to speculate!
