The market has been experiencing significant ups and downs these past two days. Before the highly anticipated "Trump-Putin meeting", Bitcoin first performed like a roller coaster: rising from 119,000 to a historic high of 124,500, but unable to maintain its position, it was quickly pushed down by bears, falling back to around 118,000. Ultimately, with no substantial results from the meeting, Bitcoin stabilized around 117,500, with its market value dropping to 2.34 trillion, approaching 58% of the total.
In comparison, Altcoins performed much worse. Ethereum nearly touched $4,800 a few days ago, just a step away from its historical high, but failed to break through and has now dropped below $4,500, falling 5% in the short term. Other mainstream Altcoins like SOL, LINK, AVAX, SUI, and HYPE have mostly declined between 3%-7%, almost universally experiencing setbacks. The only counter-trend performer was #MNT, surging over 10% in a single day, trading at $1.2.
Overall, the crypto market's total value evaporated by $80 billion overnight, falling to $4.05 trillion. BTC held steady, while Altcoins continued to bleed, with mainstream funds clearly showing risk-averse sentiment.
The market rhythm these days has been like a roller coaster.
BTC and ETH both reached new highs, with ETH's third wave of rise still ongoing. Is it approaching its end? Meanwhile, mainstream coins are starting to rotate and exert force, while Altcoins remain fragmented. The market trend this month is almost exactly in line with the previous prediction: bull market main rises often have "decapitation knives", but each time Altcoins suffer the most.
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