After the latest acquisition round, the price floor has been lifted a bit at $FROGGIE , so hold tight and scoop up the remaining small buys to push the price higher.
$BTC found that altcoins and small coins don't follow the dip on BTC when it's below 74000. This highlights a key issue: as mainstream coins drop, they attract less interest. Conversely, the smaller coins and altcoins get more aggressive as they fall. The bears are shorting the mainstream, while the bulls are stacking the smaller ones, leading to a potential phase-out of the legacy coins and paving the way for new mainstream players.
$BTC The current mining cost for Bitcoin is between 70,000 to 80,000. Historically, every time it dips below this cost, it doesn’t last long because when the trading price falls below mining costs, miners feel it's better to buy than to mine. Mining firms, as one of the three pillars of the crypto space, will aggressively scoop up and dollar-cost average during this time. Going short here is basically a death wish. This is also why the PoW mechanism has a floor, while the PoS mechanism lacks one, leading to ETH gradually becoming obsolete. Moreover, this explains why each bear market's bottom is consistently higher than the last. Shorting at the bottom simply becomes fuel, giving others cheap chips for a while longer.
$BTC Bitcoin mining costs have hit the 70-80k range. Historically, the bear market bottom usually references mining cost prices. Recently, we dipped below the mining cost to 60k and have seen a bounce for a few months now. Historically, it's always been a brief dip below the mining cost. Mining costs are about to hit 80k, and soon you won't be able to grab Bitcoin below 80k.
$BTC The market has actually digested the bearish sentiment, and we are currently sitting at the bottom of the bear market. As Bao Er Ye has mentioned, this is the bottom; there won't be BTC prices below 70k in the future. Everyone is waiting for the Trump-Iran drama and the Fed's interest rate hikes or cuts, but honestly, it's unnecessary. The Trump-Iran situation has already exhausted the bearish outlook, and the Fed's rate hike expectations are also fully priced in. When the bad news is all out, that's when we see a rally. Moreover, we're currently at the monthly support level, and the RSI technical indicator just came out of an oversold condition. All timeframes—weekly, daily, 4-hour, and 1-hour—are showing oversold RSI. This kind of situation only happens at the bottom of a bear market. Historically, even when the bearish sentiment was more severe than now, the bottom still led to explosive moves. Focusing on the Trump-Iran saga or the Fed's rate hikes isn't that meaningful anymore. News is just a complement to price action; if a rally is due, it will happen regardless of news. Historically, there have been many instances where the market moves without regard for news. Plus, if we dip further, the crypto space will face a liquidity crunch, leading to a prolonged slump for years before recovery.
$FROGGIE The first daily candlestick shot up, clearing out the weak hands, and the second one continues to eliminate resistance, with volume pushing up.
All RSI indicators for $BTC are in the oversold zone, watch out for a pump, be cautious as it could shoot straight to 90k. If you don’t understand, go brush up on your RSI technical analysis.
$FROGGIE This first bullish candlestick has gobbled up about one-third of the market's chips. If you want to buy more, you'll likely have to fork over a premium price to this whale, and the subsequent upward movement could be even more terrifying.