Last week, the cryptocurrency market experienced a significant sell-off, with Bitcoin, Ethereum, and Solana all seeing notable declines. Outflows from Bitcoin spot ETFs also reached record highs, indicating a loss of investor confidence. The crypto fear and greed index is now at its most fearful level since July 2022. However, there are indications that liquidity will stabilize, causing Bitcoin and other crypto assets to potentially surge. While the author remains bullish on Bitcoin, they express skepticism towards meme coins, stating that aside from a select few like DOGE, most meme coins are likely to be discarded for newer ones. The sentiment towards the Pump.fun project, closely associated with meme coins, is described as hateful, indicating a decline in interest. The red market could be a positive sign that meme coin mania is losing steam, potentially leading to a rotation towards coins with more value and utility.



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