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Last night's crypto market was truly adrenaline-pumping — just moments before, Meme coins were flooding social media with dreams of wealth, and then BTC suddenly broke through the 90,000 mark, dropping over 4,000 points in 24 hours, with liquidations echoing across the entire network. Even more bizarre, ETH surprisingly remained steady as a rock, never truly touching the 3000 level. What does this extreme divergence really mean? Is ETH about to take off on its own, or is BTC brewing a bigger move?
First, let's talk about last night's Meme coin frenzy. A new batch of "life-themed" Chinese Meme coins appeared on a certain trading platform, and they indeed confused many novice traders. Users who chased the highs are probably kicking themselves now. I want to emphasize this point again: Meme coins are fundamentally a game of hot money and market sentiment, a game of pass-the-parcel driven by hype, with no real value backing them. Jumping in before they even launch is as dangerous as picking up sparks near fireworks — at best, you'll get burned, at worst, you'll get scorched.
Don't be fooled by the excitement. I often say that in the Meme wave, nine out of ten participants are just fuel, and only a very few can walk away unscathed. But on the other hand, if some targets can withstand deep corrections and fully deflate the inflated bubbles, there might indeed be opportunities. However, the conditions are very strict: you need to withstand intense volatility, maintain strict position discipline, and absolutely not risk your entire net worth. Especially with leverage trading, the current market sentiment is so fragile that a single correction could wipe you out immediately.
Back to the main trend. This drop in BTC was not an accident; there are deeper market dynamics at play behind it.