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I’m going to explain my perspective on the market to you.
In this market, the common advice has been to go against the crowd. However, you’ve probably noticed that most of the time, you end up losing money anyway.
If you’ve come to a conclusion on your own without seeing it from someone else follow it 90% of the time.
This will put you in the black even when you’re just flipping a coin.
As you know, Solana is often referred to as the main chain for memecoins.
Looking at network congestion, this is where the highest volume and transaction activity are taking place. The liquidation map shows that there aren’t many downward liquidations left, but the decline could continue.
Although Solana usually seems to bounce back quickly during these kinds of drops, it has subsequently experienced sharp declines and I think the same will happen this time. DYOR.
Bitcoin indexed stocks and his company’s stock are continuing to plummet as they diverge from the broader market.
He was seen as the man everyone disliked. The primary reason for this was that he accumulated enough Bitcoin to undermine its decentralized structure.
Looking at the situation now, the sale of his company could drive the #Bitcoin price even lower. It appears that very difficult days lie ahead for Saylor, who is caught in the middle, and for the market.
Things have changed on the liquidation map. With the drop over the past 24 hours, $913M has been liquidated.
Almost all of these liquidations were long positions. Looking at the current data, short positions appear to be significant, but keep this in mind.
It’s always easier to move in the direction of the trend, and there’s still a lot of money in long positions. That’s why the likelihood of a decline is still higher.
For the past three days, I’ve been telling you that a Bitcoin major drop is coming. I’m not just referring to the crypto market, the downturn is continuing across all markets.
Of course, crypto is the most volatile, so the decline will continue. I’m still expecting a big candle and a drop to the $54,000 level.