November 5, 2025

The market is looking really bad, especially Ethereum, which actually led the decline this time and became the largest mainstream asset. Holding a piece of Ethereum, I want to cry a bit. During the time this year when it was being bought up by listed companies, just when it was about to break 5000, I did reduce my holdings appropriately, but my real plan to hold on started from the breakout of 5000. And during the recent decline, I bought some at the bottom again through grid trading, and now I'm at a floating loss.
Saying all this is not to complain, but to state a basic fact: it is very difficult to truly see a coin rise to a price that everyone envies. The twists and turns in the middle can only be understood through experience, and I am currently in that process. To be honest, the current coin price has not yet reached a point of despair. Buying Ethereum at 2000 feels like just yesterday, and no one can guarantee that the future price of Ethereum won't drop below 1500 again.
Ethereum is still like this, and other altcoins are not much better. The price of Bitcoin, which has been the most resilient, is currently struggling to hold at the significant integer level of 100,000. Given this market structure, the probability of a complete breakdown is not low and could very well happen in the coming weeks. As for the short term, considering that the overall market has dropped quite a bit, a small-scale oversold rebound is expected.
It's ironic to say that even with such a terrible market, there are still some players who come out to crazily harvest the retail investors. The MMT that went live yesterday surged 10 times in the middle of the night, directly wiping out some of the hedged accounts. It was truly shocking to wake up and find the positions gone. I think this might just be