#BTC fell to the point of questioning life, this round of big dump came quite fiercely - Bitcoin, Ethereum, and BNB all broke through their support levels, with 340,000 accounts being directly wiped out in a single day, evaporating over 1.2 billion dollars in funds.
Where does the root lie? The government shutdown in the United States is about to break the historical record of 35 days, which happened once in 2018 when the crypto market was able to withstand it. But now it’s different; the correlation between crypto assets and the US stock market and the US dollar index has become absurdly high. When Wall Street coughs, the crypto market has to be bedridden for three days. Macroeconomic bearish factors can now directly smash through the market. At this position, don't even think about bottom fishing for a rebound: Looking at the data, it's clear that 75% of those who got liquidated were using high leverage. Right now, dealing with leverage is just asking for trouble. Stay away from those altcoins, in this market condition they can fall at any moment, and it's not uncommon to see them go to zero. If you really want to allocate mainstream coins, remember two principles: first, only use idle money; second, invest in small amounts in batches, keeping the position of a single coin within 10% of the total funds. In addition, keep at least 30% of stablecoins on hand and wait until the market stabilizes before making any decisions. To put it bluntly, surviving in times like this is more important than anything else. Want to make quick money? First, weigh how much of your capital is left.
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#BTC fell to the point of questioning life, this round of big dump came quite fiercely - Bitcoin, Ethereum, and BNB all broke through their support levels, with 340,000 accounts being directly wiped out in a single day, evaporating over 1.2 billion dollars in funds.
Where does the root lie? The government shutdown in the United States is about to break the historical record of 35 days, which happened once in 2018 when the crypto market was able to withstand it. But now it’s different; the correlation between crypto assets and the US stock market and the US dollar index has become absurdly high. When Wall Street coughs, the crypto market has to be bedridden for three days. Macroeconomic bearish factors can now directly smash through the market.
At this position, don't even think about bottom fishing for a rebound:
Looking at the data, it's clear that 75% of those who got liquidated were using high leverage. Right now, dealing with leverage is just asking for trouble.
Stay away from those altcoins, in this market condition they can fall at any moment, and it's not uncommon to see them go to zero.
If you really want to allocate mainstream coins, remember two principles: first, only use idle money; second, invest in small amounts in batches, keeping the position of a single coin within 10% of the total funds.
In addition, keep at least 30% of stablecoins on hand and wait until the market stabilizes before making any decisions.
To put it bluntly, surviving in times like this is more important than anything else. Want to make quick money? First, weigh how much of your capital is left.