Last night, Bitcoin dropped to nearly a one-month low of around $89,256, with the liquidation amount in the futures market reaching $140 million in just one hour. As of now, the total liquidation amount in the past 24 hours has reached $745 million, with Ethereum's long positions experiencing the highest liquidation amount across the network.

Recently, the market has continued to decline, and many people are claiming that the bull market is over. The bulls are also silent as they are trapped. Yesterday, Sun transferred a large amount of ETH to his exchange before the drop, contributing to this sell-off. But do the market makers really just sell off without accumulating?

From

the data shows that Bitcoin has been in an inflow state in the last 24 hours. However,

Ethereum, on the other hand, has shown an outflow state from exchanges in the last 24 hours. It is clear that after this drop, large holders and whales continue to accumulate Ethereum, and some have already exchanged Bitcoin for Ethereum and withdrawn it from exchanges.

Moreover,

the recent liquidation data shows that in past market downturns, Bitcoin usually had the highest liquidation amounts. However, this time it is Ethereum, indicating that many large holders may have anticipated the positive news for Ethereum in the future. But there are too many bulls in the market, so the market makers still need to liquidate some long positions as fuel. This way, Ethereum's upward path in the first quarter of 2025 can be less burdensome, allowing the price to reach greater heights.

Next, let's talk about the market outlook.

With less than a week left until Trump officially takes office, he will undoubtedly leave a mess for Trump to deal with. At the same time, for the crypto market, during this period, market makers must collect as many chips as possible. When the time comes to pump the market, they can earn more. Additionally, with the Spring Festival approaching, many people will cash out before the end of the year. However, when the Spring Festival arrives, the market is likely to start a rally. During the Spring Festival, whether it's family gatherings or visiting relatives, investors who have made money in the crypto market will likely show off in front of their relatives or mention the crypto space. This serves as excellent promotion for the crypto world. Therefore, the current decline is still seen by the old dog as an adjustment phase before the peak bull market. The best is yet to come.

As for which coins to buy, the old dog won't boast anymore, as many coins are now priced much higher than at the beginning of 2023. The old dog had been calling for a bull market for a year. Now, the positions taken with the old dog have multiplied several times. To safely catch the peak of the bull market, focus on strong coins. After all, the strong remain strong. The risks are lower; if there’s a crash, everyone crashes together, and if there’s profit, everyone profits together, with gains likely exceeding 80% of the coins in the market. This year's strong coins include SOL, PEPE, DOGE, and the current XRP, all of which are strong coins, and their future gains are likely to outperform Bitcoin. Potential altcoins have been shared in the member group, as they carry high risks and high rewards; heavy positions can easily scare off market makers.

That's all for today. Thank you all for your long-term support of the old dog!

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