This week is essentially the final showdown of the crypto world in 2023. The macro environment is full of heavyweights: regulatory meetings in the US, non-farm payroll data, CPI, unemployment claims, all coming one after another; Japan’s rate decision is the grand finale. Once Christmas arrives, market momentum will noticeably slow down, so policy expectations, institutional actions, and large capital flows are likely to be completed within this week. For every participant, this has become a critical "must decide" moment—whether to reduce positions, switch coins, or clear out junk projects. It’s better to make decisions early rather than drag on.

Is the bull market underperforming expectations? That’s normal. But when it comes to investing, never let emotions take over. If you really need to cut losses, I actually recommend exiting early, going light, and waiting for the next opportunity.

What can truly shake the market is Japan’s rate hike on Friday, which is almost a certainty. Japan has been a global haven for cheap capital for years. As soon as they raise rates, hot money will withdraw, causing real damage to all risk assets. If combined with hawkish expectations management, the crypto market might have to endure more pain. Some analysts are even discussing scenarios where Bitcoin drops to 70,000.

Altcoins are even more chaotic. It’s basically indiscriminate selling—old projects hitting new lows, new listings breaking down or being cut in half, making it increasingly difficult for those hoping to rebound. Those still able to rise against the trend are mostly manipulated "whale coins." Their technical setups might look decent, but trusting their fundamentals will only lead to losses. Once the funding chain breaks, these coins will be ruthlessly dumped, so don’t follow the herd and hold on blindly.