The decline may continue, and we need to be patient and wait for the negative factors to be digested...🍏🤕

In the first week of July, the market continued the downward trend in June. It was originally expected to hold the $BTC price range from July onwards and conduct shock consolidation or start a rebound. However, multiple negative factors (#ETHETFsApproved postponement, institutional selling pressure, etc.) have made market investors more cautious. Be conservative. Other negative things to worry about in the short term are the declines in other risk assets. If the stock market starts to weaken, it may further put pressure on crypto assets.

What can be expected is that only when the negative factors materialize and dissipate, will the currency price bottom out and stabilize; conversely, if there are unexpected positive factors (increased easing expectations, capital return), it may also provide a boost to the trend. Friends who are long can pay attention to the market in the second half of the month. It is expected that the market may squat first and then jump in July📈.

📊 From the data perspective:

- BTC chips have maintained a concentration of short positions for nearly a month (large investors are short and retail investors are long). Although the concentration of short positions has declined, there is no sign of a trend reversal;

- The capital scarcity index once again hit a new low (funds are very abundant), indicating that traders are not actively engaging in leveraged transactions and that the market has abundant funds;

- The BTC squeeze kinetic energy shows that the short kinetic energy continues and the kinetic energy state is still at a high level.

- Mainstream/copycat data shows that the current performance of copycat coins is better, such as #BNB Ecology, $EDU $DYM , etc...

💡In terms of operation, it is recommended to find strong and weak currencies for long and short transactions. You can make short-term market prices and funding rates at the same time, and you can also seize the rebound of short-term strong copycats! 😁

Data source:blave.org