Yesterday, the biggest hot topic must be ORDI, because a developer's announcement caused ORDI to potentially return to zero, leading ORDI to drop directly from a high of 65 to around 40. I saw many influential figures still having strong faith in ORDI. When it approached 40, a lot of funds were bottom fishing to support the market. Later, during the opening time in the US, ORDI rebounded and hit a new high, reaching around 69, currently trading near 57 dollars, with a single-day fluctuation of over 47 percentage points. For such a project, those who like high volatility can play the swings. However, for those with weak hearts or beginners, it's better not to touch it casually. After all, at the current position, whether long or short, the volatility is too high and your risk tolerance may not keep up! With the impact of negative news on ORDI, recently well-performing projects have experienced a certain degree of pullback, including but not limited to MEME, TIA, ETHW, TOKEN, BIGTIME, BLUR, SEI, and PYTH. For those who have entered at a low position, it's important to timely secure some profits and not always aim to sell at the highest point. When the profit is appropriate, pay attention to timely cashing out!
As these top projects continue to pull back, it's obvious to see the trend of capital flowing towards mainstream projects in the current market. During the pullback of projects like ORDI yesterday, the top 20 projects by market cap remained relatively strong. For example, AVAX, DOT, ADA, NEAR, XRP, VET, DOGE, SHIB, HBAR, GRT, and CHZ. The current market rhythm is a rotational trend. After the BN series of BAKE and DODO's performance, the Sun series has started to perform again. BTT surged by over 100 percentage points in a single day, followed by WIN, XEC, SUN, and others showing varying degrees of upward movement!
As for the BTTC project, I didn't know what it was at first yesterday. It turns out to be a renamed version of Sun's BTT, which was once a mythical project with sufficient washing of the plate. It has started to rise opportunistically. Don't chase after Sun's projects, haha, making money is quite difficult!
Since there is a demand for a short-term adjustment in ORDI, for projects that have already seen significant gains, remember to timely secure profits and at least take out the principal. Additionally, because the market's capital volume currently does not have much overflow, it's all about rotational upward trends. Therefore, don't easily chase after any projects that surge. It's basically a one-way rhythm. You can lay out some potential projects at a low point, such as the L2 sector, which is definitely one of the sectors that will be hyped in the next bull market. The leading ARB and OP in their sector will rise sooner or later, so don't chase after them, but rather position yourself in advance! Next is the LSD track. Yesterday, LDO, SSV, and RPL all experienced varying degrees of pullback, which is the time to lay out at a low point! Then there's the AI sector, with quality AI projects like FET and RNDR that can be positioned at a low point! In the DEFI sector, AAVE, CRV, SNX, LINK, YFI, etc.
Although the market has reached a high of 44500, nearly three times the bottom of 15000, the market has not formed a widespread profit-making effect. Most of the surges are mainly in new projects or the big cake ecosystem series. Many high-quality projects are still in a continuous bottom range oscillation stage. The main reason is still due to the lack of relay by Ethereum, as seen by Ethereum's exchange rate hitting a new low again yesterday, causing various altcoins to pull back to varying degrees. From the current trend, it is very likely to touch the exchange rate low of 0.04908 that Ethereum fell to in June 2022, and this week alone, Ethereum's exchange rate has dropped by 7 points. So, how can there be a good profit-making effect? Therefore, the iron rule of playing the big cake in the early stage of the bull market is still in the next bull market. Personally, I have gained some experience, after all, I have just started to experience the first phase of the entire bull and bear cycle transition. The road ahead is still long, and in this process, we need to constantly summarize and improve in order to reap the wealth that matches our own cognition in the future!
As I mentioned recently, after reaching a high of 44500, it is currently difficult for the big cake to have a significant retracement. After all, the main players have raised it to such a high level and will not easily distribute the goods and give you the opportunity to get on board. The profit ratio of the big cake has already exceeded 90%, indicating that the number of trapped positions is actually quite limited. For the main players, it is currently a process of exploring the top, so it's not wise to be bearish. Buying on dips is the best strategy. After all, many bears have actually joined the bull camp. This can be seen from the long and short data of OKX. At such a high level, the long/short ratio has not touched the extreme position below 0.66 again, but has come to around 0.8. Therefore, don't challenge the trend, and don't be anxious about why the projects you are currently positioned in have not risen. Every day, there are positions worth several billion US dollars being liquidated. Before the big bull market arrives, don't let your position wear out in the process of chasing highs and killing lows and hand it over to the manipulators. If you are a beginner, buy some stable spot assets, such as ETH, which is very stable. It's inevitable for ETH to reach ten thousand dollars in the big bull market!
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