#BTC continues to weaken; the older “imitation” coins actually surge in a countertrend补涨 (catch-up rally). What does that mean? The market today is also pretty interesting.
BTC is back around 77,000. Meanwhile, the older “imitation” coins—$FIL and $UNI $CRV —are also being pulled up. Coins with long-standing popularity and liquidity are naturally the first stop for capital rotation.
But the real question is: if BTC keeps falling, can these older “imitation” coins hold up?
I think it’s worth watching. If BTC is only doing a normal pullback and can hold around 77,000, then this leg of the “imitation” coin catch-up rally will most likely continue, and there should be opportunities for short-term trading.
However, if BTC breaks down on heavy volume, then these older “imitation” coins that are rising against the trend today are likely to be the last wave of funds trying to save themselves— or, in other words, the tail end of the rotation market.
So for now, try not to chase. Short-term trades are doable, but don’t get too aggressive with swing positions for the moment.
BTC is back around 77,000. Meanwhile, the older “imitation” coins—$FIL and $UNI $CRV —are also being pulled up. Coins with long-standing popularity and liquidity are naturally the first stop for capital rotation.
But the real question is: if BTC keeps falling, can these older “imitation” coins hold up?
I think it’s worth watching. If BTC is only doing a normal pullback and can hold around 77,000, then this leg of the “imitation” coin catch-up rally will most likely continue, and there should be opportunities for short-term trading.
However, if BTC breaks down on heavy volume, then these older “imitation” coins that are rising against the trend today are likely to be the last wave of funds trying to save themselves— or, in other words, the tail end of the rotation market.
So for now, try not to chase. Short-term trades are doable, but don’t get too aggressive with swing positions for the moment.