June 8, 2026

The market has experienced a wave of bottoming and rebound; currently, the support at 60k has held, which is a good sign for the cyclical market. However, Ethereum has hit a new low in this round of the market, including other altcoins, almost all breaking below new lows. This is a clear signal that the bear market is still ongoing. Generally speaking, besides a sharp decline in the overall market, the relative value of Bitcoin also drops. As the king of altcoins, Ethereum cannot escape this fate.
Regarding the U.S. stock market, there were no obvious negative signals over the weekend, but gold experienced a certain decline. Investors are now quite worried about macro risks, and the pressure on U.S. stocks mainly stems from this. Additionally, Iran caused some trouble today; the Iran-U.S. conflict will ultimately affect the capital markets through oil, which is quite certain. Currently, the market still holds some hope, not knowing when the correction will begin.
Ethereum's recent low of $1,500 currently appears to have a chance to form a cyclical bottom, but based on last month's rebound, resistance is still quite strong. Objectively speaking, for new funds and those without strong faith, I would say just buy Bitcoin. Although I firmly believe Ethereum will be pumped, the risk it bears will definitely be much smaller than Bitcoin.
There's no need to sell at this stage. I had the same idea yesterday—buy in batches for bottom-fishing. Given that the bear market theoretically still has about half a year left, those bottom-fishing should be prepared mentally. The kind of decline seen a few days ago will likely happen again in the next six months. But in the short term, since the market has stabilized, I think it will move in a...