On August 24, trader Lu Yao stated that the cryptocurrency market is still in a major bear market cycle and may have entered the first half of the later stage of the bear market, referring to it as a "monkey market," characterized by significant "up-and-down" fluctuations. Bitcoin is expected to further test the $90,000 to $100,000 range, but the bear market cycle has not yet ended, and the market may still experience severe volatility. Investors should avoid being fully in or out of the market, participating with appropriate positions, selling during upward trends and buying during downward trends, while maintaining a flexible trading strategy. The current market is in a "super big fluctuation" phase, and 99.9% of altcoins are still not worth buying; investors should control their positions and remain cautious.
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