AllianceDAO co-founder: Several savvy traders have turned bearish, and overall sentiment in the crypto market is becoming cautious.
QwQiao, co-founder of AllianceDAO, stated in a post that currently, most experienced traders and long-term investors have turned bearish on different timeframes, and the overall sentiment in the crypto market is clearly becoming cautious. QwQiao said that he has been cautious about the market trend since mid-September, despite still having a positive outlook on the industry in the long term. However, in the case of multiple converging signals, he believes that moderate reduction of positions is a more rational choice. He pointed out that the market may currently be in a phase of structural differentiation: AI concept stocks continue to rise, while other assets including crypto assets are facing continued pressure.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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