Not sure how many of you still remember, but at the beginning of Q2, I mentioned that the overall trend was a rebound, not a reversal. Back then, I probably got roasted for months. Every time BTC hit a new high, someone would ask me whether it was a rebound or a reversal, and my reply was always: rebound. Why did I say that? Because for a true reversal, the Fed would need to fully enter quantitative easing—meaning aggressive rate cuts and maintaining low interest rates, or even entering the money-printing phase. Only then would liquidity drive more investors into risk markets and increase risk appetite. And the prerequisite is avoiding an economic recession. Only under such conditions would I consider it a reversal. Before that, all movements are just rebounds. But this doesn’t include Bitcoin, because BTC is still highly correlated with tech stocks and enjoys political support—similar to how the "Magnificent Seven" stocks are leading gains in the U.S. stock market. Here’s the original post: https://((x.com))/Phyrex_Ni/status/1980974716770025497 So my answer is: altcoins might not have bottomed out yet. If we’re talking about a bottom, maybe the lowest price on October 11 could be the cycle bottom for altcoins. Of course, I can’t guarantee this 100%, but compared to current prices, that low might have been the result of an economic recession causing market makers to pull liquidity and collateralized lending assets to get liquidated. To put it simply, if an economic recession does happen, the S&P might drop over 20%, BTC could fall by at least 30%, and altcoins might see declines of 50% or more. However, if there’s no recession and it’s just a shift in sentiment with improving liquidity, then it’s possible we’ll see a bottom before Q3 next year. Here’s why I mentioned Q3: https://((x.com))/Phyrex_Ni/status/1986644783809372348?s=20 So even though I’m optimistic about a potential rebound due to the end of the government shutdown, I’d only dare to buy BTC. Bitget VIP—lower fees, better perks.