Last night, the "understanding king" announced a surge in XRP, ADA, SOL, BTC, and ETH, with the market briefly rising by 10,000 points to precisely fill the gap at 95,000 before falling back. As of the time of writing, it had dropped to a low of 91,100, while Ethereum also rebounded by a few points, dropping to a low of 2,322, down 9% from last night's high.

In the altcoin sector, ADA surged by over 70%, while XRP and SOL also rose by 20-30%. Currently, the primary market is cooling off, and the secondary market has dropped from below 100,000 to 78,256, a decline of 21%. Many people are shifting their outlook to bearish, but after last night's surge, they are now seeing it as bullish. After the BY-bit theft incident on the evening of the 21st, the "understanding king" reminded to be cautious of short-term pullbacks, and on the 23rd, he warned of a "black swan." Even if the pullback is significant, he still believes the bull market is intact.

Regarding last night's "understanding king" event, the crypto market has always lacked regulation, and the crypto space has become a cash cow for these powerful or influential figures. Not to mention that the "understanding king's" own WLFI fund has also suffered significant losses during this sharp decline. At this time, repeating verbal checks to rebound and reduce positions is reasonable. Additionally, those who had preemptively hedged contracts last night made substantial profits, while retail investors are left struggling, analyzing fiercely, with price movements heavily reliant on Trump…

Furthermore, since the Bitcoin conference last year, when Trump proposed the strategic reserve of BTC, there have been ongoing discussions in various states about it, but there is still a long way to go before it becomes a reality. As for altcoins, the probability of being used as a strategic reserve is even lower since ETFs have not yet been approved. The "understanding king" previously mentioned that after a few ETFs are approved, many will likely be passed in the form of composite funds, which would be more beneficial.

The "understanding king's" administration has inherently increased financial volatility. While it does favor crypto and U.S. stocks, one must be cautious of his series of manipulative actions. It is best to reduce leverage or simply hold good spot positions.

Bitcoin

After a surge of 10,000 points last night, it has dropped back by over 5,000 points today, falling after filling the gap at 95,000. Such a significant fluctuation has nearly wiped out the long and short positions. In this market condition, the "understanding king" does not recommend short-term trading; if you make a profit, it's best to exit.

The short-term support test is around 89,200. If it holds, a rebound could continue to break through 95,000, providing an opportunity to break the daily trend line down from 110,000. If it falls below 87,000, there is still a risk of further decline. The hourly chart shows a low of 89,100; a rebound must reclaim above 91,300 to maintain a bullish outlook.

Support: Pressure:

Ethereum

The surge from last night has essentially dropped back, with the price as of writing at 2,266. The "understanding king" also noted that Ethereum's market was relatively weak, with a slight rise influenced by last night's news.

Currently, the price has dropped back to the breakout platform from yesterday, where support is crucial. Let's wait for the market signals to stabilize before taking action!

Support: Pressure:

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This article is time-sensitive and for reference only; it will be updated in real-time.

Focusing on K-line technical research, we aim to win global investment opportunities. Public account: Trading Prince Fusu

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