Trader Luyao said the crypto market remains in a broader bear-market cycle, even if it may have moved into the first half of the later stage of that downturn. In his description, the market is now in a "monkey market" phase, marked by sharp back-and-forth price swings rather than a clean trend. He said the current rally could still continue, with Bitcoin possibly pushing toward $90,000 to $100,000. Even so, he argued that the bear cycle has not ended when measured by its duration and the scale of the previous decline. Luyao warned that the market may still see violent moves ahead. For positioning, he said investors should avoid being fully in cash or fully invested, and instead keep moderate exposure, sell after larger advances, and buy after deeper pullbacks. He added that traders should stay flexible rather than lean aggressively bullish or bearish. In his view, the market is still in a phase of "super volatility," and 99.9% of altcoins remain unattractive buys.
On Aug. 24, trader Luyao said the crypto market is still in a larger bear-market cycle, though it may already have entered the first half of the later stage of that period. He described the current phase as a "monkey market," with prices showing obvious up-and-down swings.
Luyao said the current rally may still extend, and Bitcoin could even move higher toward $90,000 to $100,000. At the same time, he argued that the bear-market cycle has not finished, based on its duration and the size of the earlier decline. He said the market could still face sharp volatility in the period ahead.
On strategy, he said crypto investors should avoid being completely out of the market or fully invested. Instead, they should participate with moderate positions, sell after stronger gains, and buy after larger declines. He also said traders should avoid taking an extremely bullish or extremely bearish stance and keep their approach flexible.
Luyao added that the market remains in a phase of "super volatility" and that 99.9% of altcoins are still not worth buying. He said investors should control position sizes and stay cautious.
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