Market Insights New coins have collectively stalled, and altcoins continue to adjust. Thanks to CZ for tirelessly launching new coins right after the market warmed up a bit; the new coin sector finally collapsed today, with a general drop of 20%. The culprits remain the exchanges and project teams, and of course, those chasing new coins are just asking for trouble. Altcoins have collectively dropped quite severely, with a general decline of about 3-5% from this morning until now; this morning was basically the peak of the rebound. When Bitcoin rises, the rebound of altcoins is relatively weak. At that time, I posted in the TG channel saying that if Bitcoin retraces, altcoins would drop even more severely, and unfortunately, that has come true. What’s next for the market? The best-case scenario is for Bitcoin to find support in the 111-113 range and then climb to around 116, reaching resistance, which could then drive altcoins up again. If 116 can be broken again, it can...
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