#加密市场回调
Market adjustments, why did altcoins drop so badly? Is the bull market over?
Let's talk about the current state of the market.
After BTC surged to a high of 100390 last night, it began to drop, hitting a low of 94150 at 5 AM, then rebounding to 97000, followed by another drop to 94800, and finally rebounding to 98100, now stabilizing around 96000.
From BTC's trend, the support in the 94000-95000 range is quite strong, indicating that many are buying the dip. Just keep an eye on this position over the next few days; if it drops further, it might hit 91000.
ETH also followed BTC down, dropping from a high of 3950 to 3500, a decline of 450 points, over 10%. However, 3500 is strong support for ETH, and as long as it doesn't break this level, it can still be accumulated. In the medium to long term, I am optimistic about the spot market; you can accumulate at 3550-3600, and add more at 3250 and 3000. Spot trading is simple; just buy and hold.
Why did altcoins drop so badly? Mainly because ETH failed to break through 4100 and started to adjust, causing altcoins to drop along with it.
Currently, among the popular coins, only ETH and DOGE have not broken their historical highs. I have been saying that the market would adjust this month, and it seems that the monthly adjustment has not yet occurred.
The recent adjustment in altcoins is quite normal; if it keeps rising without adjustment, it would be harder for the trend to sustain. A washout is inevitable; if this drop is a monthly adjustment, then altcoins will likely drop again, but the bottom is also nearing.
What to do next? For those without positions, now is a good time to start accumulating altcoins, in several batches. Start with 30%, if it drops another 20%, add another 30%, and if it drops another 20%, then buy the remaining 40%. Just buy and hold for spot trading.
In the short term, pay attention to the vote on Microsoft buying BTC. If it passes, it will be a positive signal, and BTC might surge again; if not, it won’t have much impact, and the market won’t fluctuate significantly due to this news.
The key focus is still on the interest rate decision at 3 AM on the 19th. A 25 basis point rate cut would meet expectations, and the market would move as it should; if there is no rate cut, that would be bearish, and the market would likely take a hit. A rate cut is a high-probability event.
For the upcoming layout direction, I will guide everyone to target the lucrative opportunities in altcoins, especially those with high potential projects, where an expected return of 10 times or more is not an issue. If you want to make big money in the bull market, like and comment, and I'll help you layout the entire bull market!
