Bonk Guy: BTC may dip slightly again to form a local low, and most of the downward pressure on altcoins has been released

Bonk Guy posted that BTC has fallen from about $79,000 to about $77,000, with most altcoins following with slight declines, but overall performance is stronger than BTC.

He believes that Binance seems to have repurchased most of the stolen tokens from the theft incident, with the involved funds amounting to about $6.3 billion, of which about half (approximately $3 billion) has been frozen and is expected to be returned to Binance, while the remaining portion is also expected to recover most of it within a reasonable timeframe.

Bonk Guy assesses that BTC may dip slightly again to form a local low, after which the market may turn positive in the coming weeks to months, and most of the downward pressure on altcoins may have been released, leaning towards going long on altcoins and gradually dollar-cost averaging during pullbacks.