This move is not simple.
$BTC has been drifting around 78655, down 0.35%, with the intraday high-low spread almost 3,500 bucks. The trading volume of 1.97 billion is sitting there, which suggests both longs and shorts are actively at work—not a dead/sideways market. The funding rate of 0.0083% is still fairly mild, nowhere near the level of a crazy long/short frenzy.
Today the market is somewhat extremely split. The names that are up are mainly BMT (+54%), ONG (+17%), UTK (+16%), and a few other small coins—each with only tens of millions in volume. This looks like a typical retail-driven scenario: BTC is not moving, while money goes hunting for thrills in the small caps. The ones that are down are even more outrageous: PHB (-69%), NFP (-66%), ATA (-53%). It looks like projects whose liquidity was drained—their prices just collapsed.
This kind of play—pumping small market caps on one side while dumping trash on the other—I judge as the main force washing/cleansing the market. BTC hasn’t broken below the 77,800 support yet, so the near-term technical picture isn’t really a breakdown. I added a bit of longs around 78,500 and set the stop-loss at 77,500.
Expectations for tomorrow to the day after: look for a repair/bounce. $BTC should at least return to the 79,500–80,000 zone. The speculation in small coins will start to differentiate—anyone chasing into high prices may have a rough time as the bag-holding risk rises. If you’re holding “trash” coins, the suggestion is to trim when there’s a bounce—don’t fantasize about miracles.
If after this washout it still keeps dropping, then that’s when you really need to run. For now, we observe—can the bulls hold up?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.
$BTC has been drifting around 78655, down 0.35%, with the intraday high-low spread almost 3,500 bucks. The trading volume of 1.97 billion is sitting there, which suggests both longs and shorts are actively at work—not a dead/sideways market. The funding rate of 0.0083% is still fairly mild, nowhere near the level of a crazy long/short frenzy.
Today the market is somewhat extremely split. The names that are up are mainly BMT (+54%), ONG (+17%), UTK (+16%), and a few other small coins—each with only tens of millions in volume. This looks like a typical retail-driven scenario: BTC is not moving, while money goes hunting for thrills in the small caps. The ones that are down are even more outrageous: PHB (-69%), NFP (-66%), ATA (-53%). It looks like projects whose liquidity was drained—their prices just collapsed.
This kind of play—pumping small market caps on one side while dumping trash on the other—I judge as the main force washing/cleansing the market. BTC hasn’t broken below the 77,800 support yet, so the near-term technical picture isn’t really a breakdown. I added a bit of longs around 78,500 and set the stop-loss at 77,500.
Expectations for tomorrow to the day after: look for a repair/bounce. $BTC should at least return to the 79,500–80,000 zone. The speculation in small coins will start to differentiate—anyone chasing into high prices may have a rough time as the bag-holding risk rises. If you’re holding “trash” coins, the suggestion is to trim when there’s a bounce—don’t fantasize about miracles.
If after this washout it still keeps dropping, then that’s when you really need to run. For now, we observe—can the bulls hold up?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.