After Bitcoin rebounded above $100,000, the price of the currency fluctuated sharply and fell back. Wall Street's Bitcoin spot ETF holdings surpassed Satoshi Nakamoto. The U.S. Treasury Department rarely admitted that Bitcoin is mainly used for value storage, and Amazon shareholders proposed to include Bitcoin in the balance sheet to prevent inflation. This is in line with the trend that companies including Microsoft and Tesla are exploring Bitcoin as an asset. Trump was interviewed by NBC on Sunday. When the host asked him whether he would try to replace Powell, he said there was no plan at present.
Bitcoin sends a 'huge sound' back to 100,000
During times like weekends when the market is stagnant with no volatility, we must remain calm and collected, doing our defense regardless of long or short positions, and conserve our strength. The weekly K-line closes with six consecutive positive days, a new week has begun, and while we look forward, we must also pay attention to risks.
Today, the Bitcoin daily trend channel turned red, marking the end of the 'easy' money-making trend. From the K-line perspective, the 1-hour level shows a downtrend, the 4-hour level is sideways and slightly weak, the 12-hour level is sideways, and the daily level is sideways, with EMA20 becoming a critical boundary. If the price holds above EMA20: wait for the trend channel to turn green and continue to go long. Or if the price falls below EMA20: the unilateral rising logic ends.
Just a reminder that the futures premium for BTC by the end of September next year is 13.5%, with prices breaking through 110,000 USD.
Looking back at last week, ETH ETF was relatively strong, with Thursday almost reaching a historical high for single-day net inflow at 111,567.04 coins, and a total weekly net inflow of 838 million USD, with a net increase of 222,946.99 coins. However, ETHE saw a consecutive five-day net outflow (of 27,180.27 coins), with the main buyers still being BlackRock and Fidelity, who increased their holdings by 152,711.02 coins and 79,052.72 coins of ETH, respectively.
Additionally, the current ETH/BTC exchange rate has successfully risen nearly 0.04.
In a bull market, there are indeed big ups and downs. Look at last week when the US unemployment rate was announced; did the market undergo continuous corrections? No, it only dropped briefly before bouncing back. This is the trend of policies, for example, the Fed chair said that BTC is a competitor to gold. This is the chairman of the central bank of the US we're talking about. This call stimulates the emotions of global crypto enthusiasts, so in the face of trends, no one can stop it, and macro data has to take a back seat.
Look at PEPE hitting new highs, BabyDoge with a daily increase of 90%. The only interesting thing last weekend was that Musk posted two pictures on social media on Saturday, one of dogs sweeping the city and another of an old horse carrying a small horse. After these two pictures were posted, the entire MEME sector moved, with Babydog's daily increase reaching 90%, Doge increasing slightly, and PEPE setting a new historical high in the evening.
The entire market has sparked a small climax, this is the power of Musk. Regarding Shiba Inu SHIB and Dogecoin, I shared strategies in our internal group a few days ago and publicly reminded everyone to pay attention, sharing my views on them. In less than a week, there has been an overall increase of several dozen points, which is the advantage of buying when no one cares.
As a result, I reviewed a round of altcoins, most of which are undergoing adjustments on the 1-hour lines. This afternoon or tomorrow, a short-cycle adjustment should be about done, and altcoins can make another wave, but don’t have overly high expectations, as most are at high levels, and risks should still be noted! For those who are not short-cycle traders, this type of buying point can be skipped, as the profit margin won’t be very large, only about 20%.
Currently, we are at high levels, so risks should still be noted. Everyone must manage their positions well. Shorting in a bull market has two major downsides: either getting stuck for a long time or missing out on huge gains. Moreover, just because a major correction might happen, does that mean we should stop trading every day? Is staying in cash every day the safest choice? There is still a chance that planes can crash, but does that mean we should stop flying? It's not time to worry excessively; wait until the immediate profits are in hand before feeling anxious or cautious, then it won’t matter.
