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This wave of correction is indeed quite significant, and the previously accumulated upward momentum has loosened. Just as the atmosphere of the altcoin season was beginning to brew, it was hit by a retracement, leaving people a bit stunned.
The most critical aspect for BTC — it carries the overall market direction. If Bitcoin stabilizes, it means there’s a chance for a comeback; otherwise, the entire sector will have to adjust accordingly. What’s most needed now is to see if it can hold onto the key support levels and avoid constantly confusing everyone with repeated fluctuations.
ETH’s performance is actually acceptable. It just recently touched the 3300 level a couple of days ago. Although it didn’t stabilize and then pulled back, this actually indicates that its resilience to decline is relatively strong — it didn’t crash along with Bitcoin but maintained its own rhythm. In this market environment, seeing Ethereum remain relatively strong finally gives everyone a bit of breathing room.