Let's be honest, the current market is all about short sellers crashing, capital fleeing, and altcoins lying flat, nothing fancy here.
BTC has directly hit around 68900, the previous sideways range has been smashed through, and long positions have been completely liquidated in one wave; shorts are now fully in control.
BTC Dominance has hit 59%, this is clear bloodsucking—money is all flowing into Bitcoin, funds in altcoins are either withdrawing to stablecoins or leaving the market entirely, not playing anymore.
Don't even think about an altcoin season now, it’s far too early.
With Bitcoin's dominance being so extreme, any slight rise in altcoins is basically a trap for naive long positions; liquidity has long since dried up, and there’s no one to take over.
A crucial reminder:
If the 66500 level can't hold, Bitcoin could drop 10%, and altcoins could directly fall 20%-30%; it’s pure suicide trying to catch falling knives now, the market is still deleveraging, and the more you bottom fish, the more you lose.
If you have altcoins, quickly adjust your stop-loss, don’t hold on stubbornly.
Now, with even a slight wind blowing, the market can plunge directly; it’s incredibly fragile, better to watch more and act less, preserving your capital is more important than anything else.