The market has been really confusing lately, especially for investors who have been stuck.
For Bitcoin (BTC), the correction from mid-March has continued for half a year
Market activity has also dropped significantly, with many investors no longer actively trading or even losing their desire to operate.
Although this situation is frustrating, it may also be what market players want to see.
The main force may be planning greater fluctuations to stimulate market activity and attract external funds.
Have the main players given up on this year's market conditions?
I don't think so. They may be brewing greater volatility.
Attracting more funds through the wealth creation effect, this kind of large fluctuation has been exploited by the main players in history.
The emergence of ETFs provides large institutions with a more mature import and export mechanism. Although the entry and exit of funds will be more complicated, it is also conducive to the long-term healthy development of the market.
Currently, the key support level of BTC is in the 54-55K range. If this support level can be stabilized, it may lay the foundation for subsequent rising prices.
After all, the market has been undergoing a six-month consolidation.
In addition, the Federal Reserve’s interest rate hike decision on September 18 will be a key event in the near future.
I once thought the Fed would start a rate-cutting cycle, and now I think the cut could be as much as 50 basis points. This will not only affect the US economy, but may also change the international situation.
If a rate cut can ease market jitters, it could have a positive impact on the crypto market. On the contrary, if interest rates are raised, it may increase market uncertainty.
If you are still on the sidelines and cannot see the market trend clearly, and will only fall due to bullish views and rise due to short views, come to my personal account to find me.
Therefore, ahead of these key nodes, we may need to remain patient and pay attention to market data and Fed decisions. I believe that BTC can reach new highs in 2024.
