"Determinants of the Future Process in Bitcoin and Altcoins"

The cryptocurrency market experienced the biggest crash in history last night, significantly drawing the attention of investors. Analysts have made forecasts about the developments expected in Bitcoin and major altcoins from now on.

The crash that occurred on Friday night has been referred to as "black night" in crypto history. During this process, Bitcoin dropped to 103,000 dollars, while Ethereum fell below 3,400 dollars. Some altcoins lost more than 90% of their value, briefly dropping to as low as 0.01 dollars. The total cryptocurrency market capitalization decreased from 4.1 trillion dollars to 3.3 trillion dollars, resulting in a loss of approximately 800 billion dollars. This situation increased uncertainty in the markets, and 19 billion dollars worth of positions were liquidated. 1.6 million investors experienced losses.

Currently, prices have partially recovered, but analysts believe the market has entered a "bottoming process," which is expected to progress slowly. Zaheer Ebtikar, Chief Investment Officer at Split Capital, noted that markets typically enter a multi-step "bottom formation" process after such significant crashes. This process progresses with the withdrawal of liquidity providers and the stabilization of data flow.

In the initial phase, the market may continue to "bleed." During this crash, liquidation orders increase and the market faces deepening sell-offs. Market makers will temporarily withdraw to reduce their risks, while gradually closing positions they acquired at lower prices. This will result in price movements remaining within a narrow range and fluctuating horizontally.

According to experts, investor confidence will slowly return after a new bottom level is established. However, the only factor that could accelerate this process is the easing of trade tensions between the US and China. If this tension continues, market stability may be further delayed.

In conclusion, the cryptocurrency market is still in the early stages of the recovery process. The wave of liquidation amounting to 19 billion dollars that occurred last night stands out as the most critical factor determining the market's direction in the short term. The most important point for investors to pay attention to is to be patient during this process. The developments to be monitored in Bitcoin and altcoins will influence the strategies determined by investors.