After going through the lowest ebb of trading sentiment, the crypto market's trading vibe has gradually warmed from the previous 'extreme fear' level, even touching on greed within the neutral zone.
With Bitcoin currently hovering around $78,300, it attempted to breach the $80,000 mark a few hours ago but fell short. At this stage, Bitcoin remains the market's core, with some short-term hype emerging around altcoins and meme coins, indicating a divergence in market trends.
Following the continuous entry of traditional capital and institutions into Bitcoin, not only is the price seeing better support, but the market is also climbing out of the slump. However, altcoins haven't experienced a full-blown rally; many top market cap coins are still languishing in the low range, with some even hitting new lows in recent years, showing that capital hasn't flowed into these assets even as Bitcoin recovers.
But the market's attention is starting to come back a bit.
This includes short-term Chinese memes and the wildly volatile altcoins, which have added some trading sentiment to the market. These coins can skyrocket tenfold in just ten days to two weeks, always keeping hope alive in the market and making investors believe they might be the next to hit it big. However, the crash after the hype can be quite shocking, just like what Shui Ge mentioned a while back.$RAVE , which recorded a tenfold increase in two weeks but then plummeted over 95% in a single day—a terrifying record. If you get the direction wrong, even holding your position can lead to catastrophic consequences.
Since the market is still in a recovery phase, it's either time to rest well or to accumulate positions at lower prices.
Aside from mainstream coins, Shui Ge is also continuously building positions in some public chain tracks. I've fully exited my DeFi positions from the last cycle, and now I'm just waiting for the market to warm up again to write a new record.
If you're worried about the current overheating in the US and Taiwan stock markets, accumulating Bitcoin while the crypto market is in a bear cycle is also a pretty solid choice.
$BTC
