Bitcoin and Ethereum once again plummeted, is the bear market about to accelerate?

CN
9 hours ago

Cryptocurrency News

February 24 Hotspots;

1.Strategy once again increased its holdings by 592 Bitcoins, bringing the total to 717,722 Bitcoins

2.Bitmine increased its holdings by 51,162 ETH last week, with a total of 4,422,659 ETH

3.Continue Capital deposited 812,000 HYPE into CEX, valued at 22.2 million USD

4.Solana Company launched the construction of APAC backbone network, covering Seoul, Tokyo, Singapore, and Hong Kong

5.Engie is considering introducing Bitcoin mining or energy storage systems at a large solar power station in Brazil

Trading Insights

1. About Waiting (The Waiting) “Trading is mostly boring. If you feel excitement, then you are losing money.” Don't stare at the screen all day. Staring at the screen will make it glare back at you, consuming you. Good hunters spend most of their time waiting. They wait for the wind to change direction, for the prey to lower its head to drink water. Don't fixate on the market. Let the market crash into you like that clueless drunk. When you have nothing to do, do nothing. Being in cash is also a position. 2. About Stop Loss (The Cut) “Stop loss is your only friend. Though this friend may bite you sometimes.” The courage to admit mistakes. Most people lack courage. Watching the losses expand is like watching a wound rot while praying for a miracle. Miracles do not happen. Bad toes do happen. When you are wrong, cut it off immediately. Don't worry. Don't try to fix it. Pay the bill, try to learn a lesson, and strive for honor. If the green hills remain, you don't fear no firewood. 3. About Leverage (The Leverage) “Leverage is borrowed courage. It's not yours.” In that shitty contract market, leverage is like low-quality drugs. It makes you feel like you are doing nothing, makes you think you are smarter than the market. But it will give you a splitting headache when you are sober. Bet with money you can afford to lose. If a trade keeps you awake at night, then you are betting too big. You can only win when you can sleep soundly. 4. About News and Noise (The Noise) “Don't listen to them. They are selling newspapers, not truths.” In this circle, some are hawking news, some are analyzing charts, and some are bragging about inside information. Plug your ears. Just watch two things: price and volume. Price is the fact. Volume is the power. Everything else—what macro analysis, what institutional promotion—usually lies, or is used as a smokescreen for retreat. 5. About Essence (The Sea) “The market is like the sea. It is not cruel, it is just indifferent.” Don't be angry at the market. Don't try to get back at Bitcoin. It doesn't care about you. It doesn't even know you exist. If you were thrown off by a wave, it was because you didn't see the tide coming or your boat was too rotten. Accept it. Clean the wounds. Set sail again. 6. Respect for the Unknown (The Respect for the Unknown) “Only fools believe they can master every candlestick. Smart people know that when the wind rises is not determined by meteorology, but by the sea.” Sometimes, you buy not because of the MACD golden cross, but because of the great smell of coffee that morning, or because the wind outside changed direction. Is this called metaphysics? No, it's called animal instinct. In the jungle, the longest living ones are not the strongest but the ones most sensitive to danger. 7. About Metaphysical Trading “There’s no need to rush the sunrise. What’s meant to come will come. This is metaphysics, and so is Bitcoin. It has its own timetable.” Don't ridicule metaphysics. And those who try to use it to guess whether things will rise or fall in the next minute are just using a holy grail to hold urine. They don't understand the Dao; they are just blinded by greed, and just like the earlier news, what they say is not the truth. This is all my insights. There is nothing magical in facing formulas. There is only discipline and the elegance of confronting this cold, harsh reality.

LIFE IS LIKE

A JOURNEY

Below are the real transactions from the community this week. Congratulations to those who kept up; if your operations are not smooth, come and test the waters.

The data is real, every transaction has a screenshot from when it was issued.

Search the official account:Big White Discusses Currency

Bilibili and YouTube account:Big Power 777

BTC

Analysis

The chip structure is currently very healthy, and it can be clearly seen that early investors have hardly participated in turnover. My feeling is that in the low price, it is becoming increasingly difficult for investors to give up their holdings. Looking back at Bitcoin's data, the price drop has led to an increase in trading volume and turnover rate, but it can also be clearly seen that the ones participating in turnover are short-term investors who bought or sold in the last two days; there is no significant change in investors with a holding cost above $70,000 or below $60,000, which also shows that more investors are actively or passively moving towards long-term holding. A rebound to around 64,140-64,630-65,400 can be an opportunity to short, with a target looking at around 62,300-60,000.

A pullback near 62,270 can be a long opportunity, with a target looking at around 63,700-64,500.

ETH

Analysis

Issues surrounding tariffs, geopolitical conflicts, and other matters are slowly escalating, and there is currently no end in sight. First, regarding tariffs, Trump believes that the tariffs he established do not need the approval of the Supreme Court; this is the president's right, and this power has caused chaos in the EU and several countries and regions.

Secondly, there's the matter of $134 billion in tariff refunds. The House and Senate are still in a tug of war; the Democrats hope to push legislation, and the Democrats have clearly stated they will not agree to Trump's tariffs after 150 days, but this 150 days is likely to remain chaotic, extending until early July.

This isn't the end; the geopolitical conflict risk between the United States and Iran is escalating, oil prices in the US are still rising, and the Pentagon has submitted a spending adjustment plan to Congress that will spend $151 billion on warships, missiles, and fighter jets. This money could have been used for tax refunds. From the prediction market data, the ratio of the Democrats winning the midterm elections is rising, making Trump and the Republicans uncomfortable.

A pullback near 1,763-1,698 can be a long opportunity, with a target looking at around 1,850-1,880.

A rebound to around 1,863-1,883-1,920 can be an opportunity to short, with a target looking at around 1,765-1,700.

Disclaimer: The above content is all personal opinion, for reference only! It does not constitute specific operational advice and does not bear legal responsibility. The market situation changes rapidly, and the article has a certain time lag; if there are any unclear parts, feel free to consult.

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