Last night, Powell's speech caused panic, and the price of bitcoin fell from 91,700 to around 87,000. The main reasons were two key remarks.
1. Don't rush to cut interest rates. Interpretation: Then the interest rate cut in December will increase uncertainty.
2. Inflation is still a long way to go to 2%. Interpretation: Expressing concerns about inflation, once it cannot be suppressed, subsequent interest rate cuts may be cold. At the same time, there is a very small probability of reversing.
Yesterday, BTC's ETF outflowed 400 million dollars. Although this number is not large, it has a huge impact on the market.
A week of large inflows, the largest inflow in one day was close to 1.2 billion dollars, but the pull was only 3,000-4,000 points. But on the first outflow day, there was a drop of about 5,000 points.
This shows that there are huge differences in funds here.
Everyone knows that the current bull market mainly depends on the inflow and outflow of spot goods.
That is, the orders given in the past few days are also based on the situation of ETFs. At this time, orders can only be made in a wretched manner.
Today is Friday, and it is expected that outflow will continue. Before next Monday, the market will not change much. Of course, when the price of the currency continues to rise and the weekly K and monthly K hit the upper level, there must be a wave of correction. After the correction, it will fluctuate at a high level.
If the weekly K of the main rising wave closes, it will basically continue to insert a needle downward in the second week and then quickly withdraw, and the high level will be horizontal for about three weeks
In the past two days, if there is a position of 90,000 or above, you can consider trying a short order. It is unlikely to see a new high before next Monday, and the stop loss can be 600 points.
