The plummeting coin prices are one thing, but even the USDT keeps losing ground—this is the most alarming signal. Normally, during a significant market downturn, funds would flow into stablecoins for safety, so USDT should be strengthening.
The current situation can only indicate two things: either there is no new capital brave enough to enter the market for bottom-fishing, and everyone is waiting and watching; or many people have already lost everything and have no chance to preserve their principal.
This kind of double kill market is even more challenging for the mindset than a one-sided decline. The market sentiment has cooled to freezing point, and it's unclear how much longer it will take to see a turnaround.
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MidnightSnapHunter
· 12-02 15:28
The cold winter has arrived, and the nights are long.
The market has been a bit strange lately.
The plummeting coin prices are one thing, but even the USDT keeps losing ground—this is the most alarming signal. Normally, during a significant market downturn, funds would flow into stablecoins for safety, so USDT should be strengthening.
The current situation can only indicate two things: either there is no new capital brave enough to enter the market for bottom-fishing, and everyone is waiting and watching; or many people have already lost everything and have no chance to preserve their principal.
This kind of double kill market is even more challenging for the mindset than a one-sided decline. The market sentiment has cooled to freezing point, and it's unclear how much longer it will take to see a turnaround.