"This crash is virtually a cycle-ending event… Bitcoin and Ethereum are stable"

Suehyeon Lee

Summary

This crash is virtually close to a cycle-ending level, but Bitcoin and Ethereum were assessed as stable.
He pointed out that market sentiment is similar to the FTX and Celsius collapses, but altcoins are still repeating the tragic situation.
He emphasized that now may not be the optimal buying time, but asset selection is important and the possibility of further declines cannot be ruled out.

This crash is virtually close to a cycle-ending level, but Bitcoin (BTC) and Ethereum (ETH) are showing stable movements, according to assessments.

On the 11th (local time), Kyle, a researcher at DeFiance Capital, said on X, "This decline is virtually a cycle-ending level, but Bitcoin (BTC) and Ethereum (ETH) are surprisingly stable."

He went on, "Current market sentiment is similar to the times of the FTX or Celsius collapses," and pointed out, "It is surprising that the cryptocurrency industry's complex has become much more mature than before, but altcoins are still repeating the same tragedy."

Kyle also emphasized, "Now is not the optimal buying time, but it has clearly entered a zone to buy. Extreme fear has been alleviated and the market is forming a bottom, though the possibility of further declines cannot be ruled out," and said, "Many projects may not fully recover. Now is a time when project selection is important."

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ETH