$BTC 5 has started!!!

Last night's market was reminiscent of the security levels of two streets: U.S. stocks

1）Opening: U.S. stocks lightly wounded, cryptocurrency market "bleeding profusely"

Last night, U.S. stocks actually didn't drop that much; according to traditional financial narratives, it was at most called "emotional fluctuations".

But Bitcoin hit a low of 60,000 directly, and what's even more exaggerated is: the rebound was also strong, approaching ten percent.

This indicates that last night was not a "normal pullback"; it was more like "after a concentrated sell-off, someone reopened the door".

If you can rebound by ten percent, it means that the drop last night wasn't the market "slowly selling off", but rather "rushing to escape".

2）Market personification: Bitcoin is like a "cash machine", spitting out 45 billion USD daily.

The number you provided is quite shocking:

In less than a month, 1 trillion USD evaporated, averaging 45 billion USD evaporated daily.

* Previously, during the rise, the market relied on "stories" to sustain (narratives, tracks, ecology, revolution)

* Now, during the drop, the market only has "incidents" flooding the screens (explosions, liquidations, chain reactions)

3）Indeed bearish:

Without new stories, there’s no "reason to catch the falling knife". "The market has also turned bearish" (trend downwards/seeking the bottom)

In the "bottom-seeking phase", the biggest trap is:

The bottom is not a point; it is a period of time.

What you are catching is the "first pit", while the market gives you a "chain of pits".

4）"Don’t try to catch the altcoins"

What you said is actually very important and very "against human nature":

Never try to catch the bottom of some altcoins. Because many altcoins may not exist in the next bull market.

This sentence breaks the illusion that old investors love to deceive themselves with:

"If it drops too much, it will come back up."

No, the fate of many altcoins in the cryptocurrency world is:

If it drops too much, it will be gone.

5）Risk warning: We don't know what point Bitcoin's final price will reach?

The correct posture during the bottom-seeking period is not to "guess the bottom", but to "wait for the market to solidify the bottom itself".

When to wait? Stabilization - EMA weekly line effectively breaks through.

At this time, if you catch altcoins, it's like picking up a lighter on a stormy night - you indeed found one, but you also got completely soaked.

If you must catch the bottom, use options.