Market Crash

Bitcoin fell below $80,000 on March 10, with a 24-hour decline of 4.42%. Major cryptocurrencies like Ethereum and Dogecoin also dropped simultaneously, with a total liquidation amount across the network reaching $619 million. The current fear index has dropped to 20 (extreme fear), and some investors are choosing to buy the dip, such as the Salvadoran government increasing its holdings by 5 BTC.

As of this morning, BTC has broken below the previous low of $78,000, reaching a low of around $76,600, but has since rebounded, fluctuating around $79,000.

Short-term Driving Factors

Policy Risk: The Trump administration announced a 25% tariff on the EU, leading to increased market risk aversion and capital withdrawal from risk assets.

Security Incident: The $1.5 billion ETH theft incident at Bybit exchange continues to escalate, heightening market concerns about platform security.

In yesterday's article, we discussed that in a bearish trend, one should simply short the market. Before the US market opened yesterday, BTC rebounded to around $84,000, but quickly fell again, indicating strong resistance above and showing that the market is currently in extreme fear. Additionally, the cost for BTC miners is currently around $80,000, so everyone should be cautious of a potential panic sell-off.

Of course, from a long-term perspective, BTC remains one of the best asset allocations, and the current opportunity has already arrived. Therefore, we suggest gradually entering the market for spot trading. I expect fierce competition in the range of $72,000 to $74,000. If this position is reached, it would be wise to buy boldly in the spot market, and the rest can be left to time, which will provide a perfect answer.

As for ETH, the current price has dropped to a low of $1,752. Similarly, there is support in the range of $1,400 to $1,500. If this range is reached, it would be wise to buy boldly in the spot market while keeping some positions. If it drops to around $1,100, then there's no need to say more; just go all in.

I have mentioned the strategy for bottom-fishing BTC and ETH. As for other major coins and some altcoins, everyone should adjust their positions based on their actual situation. Due to space limitations, I cannot elaborate on each one. In short, follow the lead of the major coins, and the others shouldn't be too bad.

Regarding contracts, the strategy is to go with the trend. In a bearish trend, you should short the market and strictly set stop-losses. If a position incurs a loss, just move on and re-enter. For example, we shorted BTC around $82,500 and ETH at $2,070. When the price rebounded, we stopped out. However, it’s okay; when the price failed to continue rebounding and started to pull back, we re-entered short positions and still made a decent profit. Everyone should understand that the approach to contracts and spot trading is different. Contracts are speculative, and one should be flexible rather than rigid. Spot trading involves value investing, where you hold the value for the coming months or even years, so it’s important to distinguish what you are doing and not confuse the two.

For intraday short-term contracts, short BTC around $80,000 with a stop-loss at $81,000 and a take-profit at $78,000. Short ETH around $1,900 with a stop-loss at $2,000 and a take-profit at $1,750. Again, the key is to strictly execute stop-losses. In contracts, one shouldn't worry about the gains or losses of one or two trades; our take-profit margins are much larger than our stop-losses. As long as we execute consistently over the long term, the profits will be considerable.

Alright, specific market conditions require specific analysis. We will communicate with everyone in the group chat in real-time and provide live price updates. The above article is for reference only and does not constitute investment advice.

Market conditions change in real-time, and there may be delays in article publication. Strategy points are for reference only and should not be used as entry criteria. Investment carries risks, and profits and losses are the investor's responsibility. Daily real-time market analysis, along with experience sharing in the group chat and a trading ban group, are available for real-time guidance. Live sessions explaining real-time market conditions will be held at irregular times in the evening.

For more real-time market analysis, please follow the public account: Chu Yuechen

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