Did you notice? $BTC pulled a violent 6-point pump yesterday, and it even touched 72900—yet in the altcoin circle, the bodies were everywhere.
PHB is down nearly 70%, and NFP is down 66%. This drop isn’t a simple correction anymore—it’s basically a double halving. I took a look at the trading volume for these two: NFP had 3.8 million in volume, while PHB had 1.5 million. That suggests money is running, but there are basically no buyers catching the fall.
This kind of selloff isn’t a normal shakeout. My guess is either the project team is dumping, or the market maker is distributing and fleeing. When BTC is up, the altcoins crash even harder—this is the classic “pump to distribute” play: all the funds rush into BTC, and the alts get bled dry.
Should you chase it? My view is: don’t catch a falling knife. A 70% drop looks cheap, but under the floor there’s still a basement. This kind of low-volume decline shows the sell orders haven’t been cleared yet. If you rush in now, you’re very likely just delivering ammo to the short side.
Lately, don’t mess around in the altcoin circle. Wait until BTC stabilizes, then when the alts start compressing in volume and moving sideways, we can talk again. The funding rate is 0.0056, which is fairly mild—meaning longs and shorts haven’t gone too far out of balance.
This round of altcoin “battle royale”—who’s still holding on and fighting through it?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.
PHB is down nearly 70%, and NFP is down 66%. This drop isn’t a simple correction anymore—it’s basically a double halving. I took a look at the trading volume for these two: NFP had 3.8 million in volume, while PHB had 1.5 million. That suggests money is running, but there are basically no buyers catching the fall.
This kind of selloff isn’t a normal shakeout. My guess is either the project team is dumping, or the market maker is distributing and fleeing. When BTC is up, the altcoins crash even harder—this is the classic “pump to distribute” play: all the funds rush into BTC, and the alts get bled dry.
Should you chase it? My view is: don’t catch a falling knife. A 70% drop looks cheap, but under the floor there’s still a basement. This kind of low-volume decline shows the sell orders haven’t been cleared yet. If you rush in now, you’re very likely just delivering ammo to the short side.
Lately, don’t mess around in the altcoin circle. Wait until BTC stabilizes, then when the alts start compressing in volume and moving sideways, we can talk again. The funding rate is 0.0056, which is fairly mild—meaning longs and shorts haven’t gone too far out of balance.
This round of altcoin “battle royale”—who’s still holding on and fighting through it?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.