The market is still volatile over the weekend, and Grayscale is not working on weekends. The overall market is very calm, including many altcoins that have not seen sharp rises and falls. In fact, they all depend on the market. So today, with Grayscale going to work, the market may continue to be under selling pressure. As for Grayscale's recent selling problem, today is the second week, and we don't know how much selling pressure Grayscale still has, but based on the recent market situation, the possibility of Bitcoin's price hitting the 38,000-40,000 support range is increasing.
In fact, the volatile decline of Bitcoin this morning also indicates that the buying power above 40,000 is weakening, the market sentiment is declining, and the market continues to erode the buying power above 40,000. Then the support near 40,000 may become weaker and weaker. If there is a concentrated sell-off in the market again, the support of 40,000 will most likely not be able to withstand. Therefore, once the market experiences a large-scale correction, it is a good time to buy the bottom in batches in spot and medium and long-term.
I personally think that DOGE’s rise is highly likely to never end. As long as it rises to a high enough position, it will meet the purpose of the dealer to ship goods. Therefore, just wait patiently. As for XRP’s rebound, it will definitely come. It depends on when the dealer will exert its strength. ARB has entered the adjustment stage. Before March, at the end of February, when the Cancun upgrade officially arrives, it will definitely rise again. Therefore, a decline is an opportunity. Buy a little when it falls a little, and buy a lot when it falls a lot.
at last
There is not much to say about the market recently. Looking at the big cycle, the market is still in the adjustment stage of volatile decline, and there is no obvious reversal signal. In terms of spot, I have been reminding everyone to reduce their positions before the ETF was launched. At the same time, the Cancun upgrade is also what I have repeatedly emphasized. As the next hot spot in the market, the focus is still on those currencies that are often mentioned. In addition to the Cancun upgrade, other sectors that need to be paid attention to are also listed for everyone in last Saturday’s article. In short, once the market has a big correction, it is our opportunity to buy the bottom in batches!
