Strategist's Market Analysis: (Issue 157)
Review of Issue 156: From the chart, the bullish liquidity at the bottom is 92,200, which is the extreme position for a pullback. This time the bulls have been almost liquidated due to the drop. I sent a funding rate chart this morning. The short-selling sentiment is very strong now; the worst-case scenario is another dip to previous lows before moving up, but there’s also a significant chance of a direct rise. The bulls are at the zero point and are preparing to liquidate the shorts.
As expected, last night the Bitcoin price dropped to 92,460 without breaking below 92,000.
From the liquidation chart, it shows that around 92,000/91,500 yesterday there was no breach, and the bulls have started to increase their positions again.
From the current strength of Bitcoin, this position still needs to go down to liquidate.
Bitcoin Candlestick: From the candlestick chart, Bitcoin is currently the weakest among all mainstream coins. The rumored altcoin season is subtly gaining momentum, with ETH and SOL starting to strengthen.
Before the new year of 2025 arrives, institutions are mainly on break; Bitcoin will not have significant trading volume, and the price will continue to drop, with market share continuing to decrease.
Bitcoin ETF: Yesterday was Monday, and the foreigners clearly have not finished buying their New Year goods.
As soon as they got back to work, they started dumping, and on the 23rd, only BlackRock bought in 33 million USD.
There was a net outflow of 227 million USD; the Christmas market is still ongoing, and a new market change will have to wait until after the holidays.
Ethereum ETF: The performance here is very good, with a net inflow of 129 million USD.
The strategist has been consistently urging to buy ETH; those who bought at the 3,200 position can take advantage of several waves.
