Track the real-time hot topics in the currency circle, seize the best trading opportunities. Today is Tuesday, February 4, 2025. I am Wang Yibo! Good morning, coin friends ☀ Iron fans check in 👍 Like and get rich 🍗🍗🌹🌹

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The black swan event in the cryptocurrency market this time led to a cascading crash. The explanation that tariffs in small countries like Mexico can lead to a 10,000 point drop or rise in a day is really expert. Bitcoin fell to a low of 91,124.7 in yesterday's early trading, while Ethereum fell tragically to a low of 2,087, with a maximum drop of 31.86%. In fact, this time Bitcoin's decline was less than 10%, while Ethereum fell by 30%. The entire altcoin market experienced a nearly 45% drop, which was actually a slump. Especially in the contract market, there was an epic crash in the currency circle: almost all the long positions in the market were liquidated, and this wave of deleveraging was extremely thorough, which also cleared all obstacles for the subsequent surge of Ether and altcoins! The season of altcoins is coming, but it also indicates that most altcoins will go to zero in the future. After the large-scale crash in 1994, 2017, 2020, 2021, and 2024, a wave of great market opportunities will follow. In fact, the monthly trend of the overall market is still upward, still has strength, and the bull is still there.
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In fact, what happened this time is completely different from historical events. This can be said to be entirely caused by one unreliable person. He is responsible for both the rise and fall. There is no need to go into details here. People in the currency circle all know. However, the sharp drop in each bull market can be considered common. It can also be seen as washing out and filtering chips. However, the excessive issuance in the altcoin market must be taken seriously. Varieties without narratives and those that are excessively hyped should be avoided. It has been said many times that many altcoins have been excessively hyped. Perhaps being stuck for three to five years is not an exaggeration. If you get trapped, you may end up with nothing. It is better to pay attention to Bitcoin, Ethereum, and varieties with expectations of approved spot ETFs!
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Bitcoin/Ethereum quickly rose again in the evening, with a relatively large increase. Bitcoin hit the 102500 mark, and Ethereum rose to 2920. In terms of candlestick patterns, the recent prices have been oscillating at high levels, with multiple long upper and lower wicks, indicating a significant market divergence. On the daily chart, a small bullish candlestick with a long lower wick has formed, indicating strong support below. In the short term, it is still showing signs of rebound correction. However, the sustainability and strength of the rebound need to be closely monitored, especially when approaching the key resistance level at 103500 (3000).