Bitcoin has collapsed, Ethereum has collapsed, and SOL has also collapsed.
The daily level of Bitcoin has fallen below the 120 day moving average, and its form is quite unsightly. From a monthly perspective, Bitcoin has been rising continuously for 3 years and is currently forming a “double top” structure, which is one of the typical top signals.
On the news front, the previously expected interest rate cuts in the market have actually triggered the effect of “all the good news turning into bad news”. The combination of multiple negative factors further suppressed the market. Even if it is not currently at an absolute top, it is highly likely to be in the late stage of the market.
No asset can only rise without falling. If it rises too much, it will inevitably rebound, and if it falls too much, it will also rebound. This is the most basic market law. But most people are still immersed in the illusion that the market will continue to rise, ignoring potential risks.
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