Author: Alex Liu, Foresight News
In the early hours of December 20th, the market's reaction to the Federal Reserve's "hawkish" delay in rate cuts the previous day expanded, and the Altcoin market plunged, with Bitcoin falling to below 96,000 USDT, and Ethereum plummeting from its 19th morning high of 3,900 USDT to 3,322 USDT. The violent fluctuations caused over $100 million in contract liquidations across the network, and Altcoins generally suffered even more severe declines.
The feast is over, and is it my turn to pay the bill this time? Should I sell to escape the top or be bold and buy the dips? Don't panic, let's see what top traders and investors have to say.
Well-known investor, Placeholder partner Chris Burniske
Remain long - this is just a "little fool's punch", and the end of this cycle is still far away.
If you're angry at yourself for not selling before the FOMC turned hawkish and caused the pullback, remember that you have almost no edge in predicting the market's reaction, and view it as an opportunity to take it slow. Don't overtrade. In the long run, as long as you have patience, you'll be fine.
The VC who became famous for buying the dips in Solana, SOL Big Brain
Well-known trader DonAlt
The Bitcoin chart is not bearish (for now), even if another leg appears on the chart (a typical pattern like this), I'm not bearish.
I think if we go to $90,000, it will cause a lot of Altcoin liquidations, providing a very good buying opportunity.
But I'm not sure if that will happen, the sentiment is already very "bearish".
I still think the final leg of the bull market is missing, it hasn't gotten crazy enough yet, and it seems like the US government's way of bringing it about is a bit like a huge waste of a ready-made powder keg.
Personally, I'm not panicked at all, but maybe I'm just complacent.
Well-known KOL KALEO
Trader Adam
Top trader Saint Pump
If the Bitcoin structure breaks down, I predict buy-side will appear again at $90,000. It may even drop all the way to $85,000 in pure panic. Altcoins will completely collapse.
Good entry prices for ETH would be $3,000 and $2,900, and for SOL it would be $160.
Well-known Solana MEME shill king Ansem
Bonus: Top trader Eugene Ng Ah Sio
A few hours ago, Eugene Ng Ah Sio had posted an explanation of why he was bullish on SOL at a price of 208 USDT, and stated that he had adjusted his MEME position to SOL (his individual positions are typically in the range of several million to tens of millions of dollars). In this latest downturn, SOL has dropped below 190 USDT.
