BTC reached a peak of 126,000 before a full pullback, with 100,000-110,000 becoming the dividing line for market sentiment.

[Coin World] BTC and ETH have given back all the gains from last year. After the surge to $126,000 in October, all 20 mainstream tokens tracked by GMCI are in the red this month.

People in the investment circle have analyzed this round of plunge very clearly—leverage exploded too violently, coupled with a sudden change in the external environment. The fantasy of the Federal Reserve cutting interest rates has been shattered, inflation data is still hovering at high levels, and geopolitical tensions have added fuel to the fire. The market has staged a collective deleveraging drama.

What to watch next? Whether the Federal Reserve's stance and economic data can return to a normal track. Many believe that if BTC can stabilize in the 100,000-110,000 USD range, the market sentiment can be truly reversed.

Although there seems to be some stabilization now, the volatility is still quite frightening. However, some altcoins have been hammered down to value, making the risk-reward ratio even more enticing than before.