Currently, the high-altitude altcoin market is cooling down and retreating, with popular coins generally experiencing significant pullbacks, and most varieties falling sharply and unable to recover or rebound. The recent altcoin rally was purely a short-term bubble driven by forced capital injection, lacking fundamental value logic and consensus support. Later, rampant market manipulation and overheated speculation made the bubble burst an inevitable outcome. Countless speculative coins with no underlying value or technology were violently pumped in the short term, which was essentially blatant capital harvesting. After the hype dissipates, altcoins will only continue to cool off, making the market increasingly difficult to trade.

Capital flow has already reversed, with altcoin holdings continuously fleeing, and a large amount of capital flowing back into Bitcoin seeking safety and grouping. Bitcoin is currently hovering at the key point between bulls and bears, repeatedly testing the support level, with oscillations and shakeouts, and accumulation at low levels to gather strength. The 80k level is the last defensive line for the bears. Once a volume breakout occurs, short positions will be liquidated and stop-losses triggered, creating a strong bullish push, fully opening up the market space. Based on market rhythm and capital trends, we remain firmly bullish on Bitcoin.

In the afternoon, the trading strategy for Bitcoin is to go long directly at 77,500-77,000, targeting 80,000. For Ethereum, go long at 2,310-2,280, with a target of 2,410.