Odaily News Encryption KOL Ansem stated that a clear SFP (Swing Failure Pattern) can be observed from the weekly charts of XRP, SOL, and ETH, indicating that the market trend resembles a momentum termination rather than a new bull run. He pointed out that this situation is similar to LTC's trend in 2021, while BTC's price has also fallen below the 2024 high. Ansem believes that the extensive distribution phase lasting for 10 months may be nearing its end, and the market lacks new narrative drivers. MSTR has fallen below the 200-day moving average for the first time since peaking last November, turning into a resistance level, showing a weak market structure. He added that unless BTC reclaims $112,000, it is difficult to change the current bearish outlook.
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