Track real-time hotspots in the cryptocurrency circle and seize the best trading opportunities. Today is Tuesday, February 4, 2025. I am Wang Yi Bo! Good morning, everyone ☀ Hardcore fan check-in 👍 Like and make a fortune 🍗🍗🌹🌹

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This black swan event in the cryptocurrency market, with a snowball-like plunge, can lead to a daily rise or fall of 10,000 points, which is an expert explanation. Yesterday, Bitcoin hit a low of 91,124.7 in early trading, while Ethereum suffered a more severe drop, hitting a low of 2,087, with a maximum decline of 31.86%. In fact, this time Bitcoin's decline was less than 10%, while Ethereum dropped by 30%. The entire altcoin market experienced a nearly 45% drop, which is essentially a market crash. Especially in the futures market, there was an epic crash: most long positions were almost completely liquidated, and this deleveraging was extremely thorough, clearing all obstacles for the subsequent surge of Ethereum and altcoins! The altcoin season is coming, but it also indicates that many altcoins will be reduced to zero. After the major crashes in 1994, 2020, 2021, and the upcoming event in 2024, each time is followed by a major market rally. In fact, the monthly chart of the overall market is still in an upward trend, still holding strength. The bull is still here.
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Actually, it is completely different from historical events. This time, it can be said that it is completely caused by a unreliable person. He is responsible for both the rise and fall. It is unnecessary to elaborate on this, as people in the currency circle all know. However, the sharp decline in each bull market can be considered common, and it can also be seen as a process of cleansing and filtering chips. However, the excessive issuance in the altcoin market must be paid attention to. It's not advisable to touch varieties without narratives and excessive hype. It has been said many times that most of the altcoins have been excessively hyped, perhaps it's not too much to say they will trap you for three to five years. If you get trapped, you may lose everything. It's better to pay attention to Bitcoin, Ethereum, and
Bitcoin/Ethereum rose rapidly again in the evening, with a relatively large increase. Bitcoin reached a high of 102500, and Ethereum rose to 2920. In terms of candlestick patterns, the recent price has been oscillating at a high level, with multiple long upper and lower shadows, indicating significant market divergence. Currently, a small bullish candlestick with a long lower shadow has formed on the daily chart, indicating strong support below. In the short term, it is still showing signs of a rebound correction. However, the sustainability and strength of the rebound need to be closely monitored, especially when approaching the key resistance level of 103500 (3000).