Yesterday, I also said that the short-term market needs a correction. The risks of chasing long positions outweigh the risks of rising prices!
Bitcoin is poised to test $116,000, and ETH's support level is 4400-4450, which is exactly where the current decline has reached.
This decline appears to be driven by US PPI data and the Treasury Secretary's remarks, but in reality, it's mainly due to the excessive rise. This is just a trigger.
The current decline has seen significant volume, and a larger correction is expected. However, there will also be a rebound before the correction, which will help to curb short-selling.
In the short term, it may be best to go long first and then short, or wait for a high point. This decline and correction is just the beginning. Don't rush to buy the dip, but be prepared. If a dip reveals a golden opportunity, don't be afraid; bravely buy the dip!