On Thursday, Bitcoin plummeted below $100,000, hitting a low of $98,897.
Feeling confused again? The interest rate decision result in the morning was a 25 basis point cut, but the market crashed. It usually goes up after a rate cut, but Powell's words caused the current situation.
In the last 24 hours, a total of 294,844 people were liquidated globally, with a total liquidation amount of $849 million.
Powell made it clear that the Federal Reserve does not like Bitcoin and does not want to use it as a strategic reserve.
He emphasized: Although Congress can amend laws to allow the Federal Reserve to hold Bitcoin, this is not the direction he wants to see.
The Federal Reserve halved its interest rate cut expectations for next year, and spot gold plummeted during trading, falling below the $2,590 mark, ultimately closing down 2.3%.
The three major U.S. stock indices all fell sharply, and the fear index surged by 78% at one point.
The Dow closed down 2.59%, setting the longest single-day losing streak record since 1974.
The S&P 500 index closed down 2.95%, and the Nasdaq closed down 3.56%.
Bitcoin once fell below $100,000, dragging down altcoins.
I know you are very anxious, but please do not panic!
The bull market is not over yet, so don’t rush to jump off a building!
You need to understand that the market is not dictated by them; they also need to look at the data. Words can be said casually, but policies cannot be made casually; policies depend on data. Ultimately, how interest rates will change next year still depends on various data.
He said that Bitcoin is still the same Bitcoin, and the market is still the same market; nothing has changed, but the market is in turmoil, mainly because it has risen too much.
It needs to drop a bit to clear out leverage.
Next, there are only the low liquidity days of Christmas and New Year's left. Be patient and wait for the bottom-fishing opportunity!
As for bottom fishing, Dog Brother said yesterday to still look for the previously strong narratives that haven’t materialized.
You can use a strategy of buying more on big drops, smaller buys on small drops, and not buying when it doesn't drop to pick up low-priced chips in batches.
Looking forward to the market after Trump takes office from January to March next year. For stability, stick to ETH, BNB, SOL, and for a more aggressive bet, you can choose ACT, PNUT, etc.
For those seeking stability, in the MEME sector, you can choose: DOGE, PEPE, WIF, FLOKI, etc.
For public chains, choose some established ones that already have good popularity, like APT, SOL, and SUI.
For the AI sector, choose FET, including WJD, but I’m more optimistic about FET, especially with DWF as the market maker partnership, making it hard for the price to look too bad.
In the DEFI sector, the first choice is still AAVE, including COMP. We have zero cost for these. Friends who want to enter the market again should wait for lower prices. Additionally, MKR itself has no issues, it just got dragged down by Ethereum. If there are no stop losses, it can be held normally, just control the position and avoid contracts.
As for positions, it still depends on everyone's habits. Of course, Dog Brother also suggests that everyone arrange their portfolios reasonably. If the allocation is insufficient, you might as well pick a part from the above sectors to layout, as long as the fundamentals and projects are still operational, time will give you answers and some wealth.
Finally, Dog Brother recommends one:
» MANTRA ($OM)
Market capitalization: $3.79 billion.
24-hour trading volume: $128 million.
The newly emerging RWA leader OM is also worth the wait, as this round of the bull market is primarily driven by institutional entry.
OM is backed by the support of traditional internet giant Google and has emerged in the RWA sector.
In-depth cooperation with the Dubai MAG Group, which allowed many people to earn a lavish pig trotter meal when the shorts were issued.
U1S1, Dog Brother is optimistic about OM.
Creation is not easy; thank you for reading. If you want to exchange techniques and layout quality coins together, feel free to like and follow.
