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I was expecting a massive sell off and Liquidation event due to this fomc but so far it didn't happened in bear favour, bulls are winning.
50bps rate cuts doesn't really speak well about the economy as in past it happened when there was a crisis. Out of 107 economist there's like 103 economist who predicted 25bps rate cut but only 4 turned out to be right and JP Morgan was one of few who was right about it.
Now when everything is going up just before "uptober" I might be wrong about one last liquidation cascade but am I? We'll find out real soon as september isn't over yet and there's still 10 more days left but for now there's opportunity in the market and it's better not to miss that.
Altcoins are Leading: too soon to call it an altcoin season?
Sentiments in market are important thing as we can see one good day is enough to make everyone involved in the market again.
We can see most of altcoins outperforming bitcoin already which is a good sign.
Altcoins are suppose to recover months of drawdown in days, so in the end it won't matter how down you're in x and Y altcoin right now, when the alt season will come alts with good utility and communities are going to be in profits.
But for now, There's no Altcoins Season. It's just on bitcoin wills to decide the fate of altcoins for now.
But some of altcoins to watch for now are:
- SUI
- SAGA
- SEI (SUI to SEI rotation + sei performance in last year Q4 was exceptional)
- STX (big narrative ahead with bitcoin recovering)
- ONDO
As well as many of altcoins charts are breaking out from months of downtrend.
I.e;
ONDO
RWA narrative is still fresh, so won't sleep on it especially when it has been the most outperforming narrative this year and market makers of ondo are known to send up only and I'm expecting a V-shape recovery on this chart.
SEI
Similar to ONDO, overall majority of altcoins are breaking out from months of downtrend so consider it a good sign.
Spot and comfy: Avoid Getting Rekt in coming days
As of now the only strategy I'm going to apply is hold my spot bags that I've bought over the weeks with market going down and DCA'ing back
Now the time is to wait and watch instead of getting Rekt on a day like Friday, sat or Sunday.
Let the fomc dust settle down in couple of days and than see how market is doing moving into October.
I'm still expecting a correction to occur before we witness the real father pump of all pump.
At this point I'd be happy being in Altcoins than positioning in BTC etc because I know what narratives are going to lead, what events and news are going to move specific altcoin.. so it's going to be fun as long as volatility is there.
Wrapping Up...
In the end people are mostly expecting a bullish month of october so seeing all that sentiments on the social media I believe there's going to be a big lie liquidation event to make everyone upset moving into October.
And than people will be on sidelines, market will keep going higher or other scenario is that people are already sidelined and we won't get any dip anymore from now on. Curious to know what's your thoughts about it, feel free to share it in the comments.
