Remember what crypto mechanic told you when $XPL was launche | CRYPTO MECHANIC on Binance Square

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CRYPTO MECHANIC

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Remember what crypto mechanic told you when $XPL was launched?  
Its down 90% 

CRYPTO MECHANIC

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I think $XPL is overvalued.
$2.35B marketcap for a newly launched coin is actually so high.

I don't think it will sustain it for too long.
{spot}(XPLUSDT)

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Throwback to 2016–2017, when we were trading Altcoins against BTC (XRPBTC, ETHBTC), not USDT. No endless stablecoin pairs. No hundreds of new coins every week. Spot trading was king, and futures had barely 5–10 coins at most. The market structure was simple. Fewer coins, less noise, and far less manipulation. You bought spot You waited You sold only to take profit or cut loss No 50x–100x leverage. No constant shorting. No funding rate games. No algos hunting every small move. That was the era when we witnessed the greatest altseason of all time. Today we have: Infinite leverage Perpetual shorts Too many tokens Too much noise Way less patience And worst tokenomics Good old days, Probably never coming back

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Bitcoin continues to trade within the range, Tapped range low yesterday and bounced. $88200 - 89200 will be a key zone to watch. It is the mid range and the zone price broke yesterday. Reclaim Above mid range - Price can go for $93k again As long as its below 89200 - it can go for range lows once again. As the price is ranging we have to focus on these levels, personally i will just avoid this chop as i have been, As a SPOT only trader the risk and reward here is not attractive.

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I’ve been thinking about this for a long time, so I thought I’d share it with you. I keep asking myself: what is left that can actually pump crypto now? We’ve already had almost every bullish catalyst: We had a pro crypto US government. We had ETFs. We had Saylor buying billions he almost $2B in the last two weeks. We had institutional demand and DATs We were expecting rate cuts to pump the market. we got three consecutive rate cuts, and still nothing happened. At the same time, Gold, Silver, Nasdaq and SPX are all at all-time highs. Historically, crypto moves with the same macro and liquidity forces. But this time, crypto just didn’t perform. When I think about all this, one question keeps coming up: What does crypto actually need to move? Or are we simply at a stage where all the good news is already priced in, and price now needs time rather than news? This isn’t panic. Just an honest thought.

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Genuinely curious what you guys do when the market is like this.?

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