​Recently, the uncertainty in the Bitcoin market has increased, and investors are concerned about the balance between investment returns and risks. Although the dispute between the SEC and Grayscale may not have a conclusion soon, the 20,000 Bitcoins held by the US government are about to be sold, which will bring huge selling pressure to the market. In addition, FTX is facing a $3 billion debt repayment, and Mentougou is about to be liquidated, which may lead to market adjustments. In the short term, we need to pay close attention to the support level of $25,300. Once it breaks, it may break the short-term shock pattern.#BTC

At present, the biggest impact on the market is the spot ETF. Grayscale won the lawsuit against the SEC last week, and the judge overturned the SEC's decision to refuse to convert the Bitcoin Trust Fund GBTC into an ETF, which made people more confident that the Bitcoin spot ETF will be approved soon. It is expected that the crypto industry will usher in the approval of the first Bitcoin spot ETF between mid-October 2023 and mid-March 2024. (It is expected that Grayscale and many other companies' Bitcoin spot ETF applications will also be approved at the same time)$BTC

In addition, after BlackRock led a wave of Bitcoin spot ETF applications, Volatility Shares submitted an Ethereum futures ETF application to the SEC on July 28, and then many US fund management companies also applied for Ethereum futures ETFs. Currently, there are as many as 16 Ethereum futures ETFs waiting for SEC review. According to insiders, the SEC may approve multiple Ethereum futures ETF applications at the same time. Volatility Shares plans to launch the Ethereum futures ETF on October 12, making it the first Ethereum futures ETF launched in the United States according to standard procedures.

In recent days, the market has once again fallen into a deep decline, with both prices and trading volumes continuing to be sluggish. Compared with the entire market, most altcoins have performed poorly, except for a few projects that were manipulated by DWF or hyped by Korean investors.

Even if you participate in the projects that are the focus of the entire network traffic, it is difficult for you to make a profit because DWF's manipulation is too strong. It is incredible that the price of some projects has risen from $3 to $10. When you realize that $10 is already very expensive for the network and want to wait and see whether to short, the market pushes the price up to $15; when you think that $15 is too outrageous and you can at least make twice the profit, the market directly raises the price to $20.

You finally opened a short order, but the market continued to rise to $40. At this time, you may still believe that shorting can make a profit, but your short order cannot withstand the pressure, and you do not have enough funds to continue to increase your short position, so you can only choose to blow up your position or cut your losses.

Until the price of CYBER has fallen to 6 points, you look back and realize that your judgment on its price trend is correct. You clearly know that the price will fall, so you choose to short it, but you cannot make a profit. This is the reality of the cryptocurrency circle. Only when the risk of ambush at a low level is relatively low can you get better investment opportunities. #解析cyber

In daytime trading, we recommend short-term long and short trading in the range of 25600-26150. It is not recommended to participate in the current price trading of Bitcoin because it is difficult to set a stop loss point. If you want to trade at the current price, you can enter the market around 100 points at the two major positions.

There are many currencies in the cryptocurrency market that are experiencing explosive growth. It is easy to get liquidated if you short them, so it is recommended to wait and see.