Trader Eugene Ng Ah Sio wrote on X platform, "This is when most people start to panic, for the following reasons:
- BTC, ETH, and SOL are retesting the range lows of December 5, and the market is beginning to accept that these support levels may not hold.
- BTC's next support level is $85,000, which is very far away.
-People's psychological dependence on the "January Bull Market" begins to weaken, and most people realize that their unsold assets have gone through a complete cycle of ups and downs, and begin to suffer losses, and then find themselves not only completely giving back profits, but also finding that they are no longer so fond of the coins they hold when the market falls sharply."