🤔Has the cryptocurrency market really entered a bear phase?

The past few weeks have been turbulent for the cryptocurrency market. Fears of a recession and growing negative sentiment among investors are dragging prices down. Bitcoin (BTC) has dropped below the $80K mark for the second time in three weeks, further intensifying the feeling of instability. The fear and greed index has frozen at 24, signaling 'extreme fear.' But what does this really mean? Is it time to panic or, on the contrary, prepare for new opportunities? Let's figure it out.
🤔Has the local market bottomed out?
To be honest, predicting the exact bottom is like fortune-telling in coffee grounds. The current situation with the index at 24 indicates that many investors are either selling in panic or simply waiting. Historically, such low values have often preceded reversals, but not always immediately. For example, in the past, we have seen how the market can continue to "storm" at low levels for some time before starting to recover. Personally, I think the current decline may be close to a local bottom, but much depends on external factors such as macroeconomic news or decisions by the Fed. If BTC settles below $75K, this could signal further decline, while holding above $80K would give hope for a rebound.
🤔At what price would I buy on the dip?
For me, buying on the dip is always a balance between risk and potential reward. If BTC drops to $70K-$72K, I would start looking for an entry. This is a level where strong support has often been observed in the past and it looks psychologically significant for the market. As for other coins, I would consider buying ETH - considering its fundamental value and prospects after network upgrades. But of course, I would wait for at least minimal signs of stabilization to avoid catching a "falling knife".
💎What coins are in my watchlist?
Besides BTC and ETH, I am keeping an eye on several altcoins that could perform well in case of a market turnaround. For example, SOL (Solana)—despite the volatility, the ecosystem continues to grow, and a price around $115-120 seems attractive. Another coin is ADA (Cardano). It is currently trading quite low, but the project's long-term potential remains high. And of course, I cannot ignore GT—its connection with Gate.io makes it resilient even in tough times, especially if the price drops below $20, it will be a great buying opportunity.
🤔What am I thinking?
The cryptocurrency market is clearly experiencing turbulence, and 'bearish' sentiments are currently dominant. But I don't believe this is a full-fledged bear market in the classical sense - rather a deep correction against the backdrop of global uncertainty. History shows that such periods of fear often open up opportunities for those who are willing to take risks wisely. The main thing is not to succumb to emotions and to monitor key levels.

#Has the Crypto Market Entered a Bear Market?