Today’s trend of #比特幣 is really making people love and hate it!
In the morning, there was a tentative upward attack, and it was about to break through an important pressure level. However, in the afternoon, it took a turn and directly inserted the needle downward, which made everyone's heart beat faster. With such a volatile situation, many people are wondering whether market funds are laundering funds, or are large investors preparing for new arrangements?
At present, it seems that the main driving force of the market still comes from several key factors:
1️⃣ Macroeconomic impact: The recent trend of the U.S. dollar index has obviously put considerable pressure on BTC prices. There are also the effects of some international events, such as stock market fluctuations, gold hedging demand, etc., which have indirectly affected the crypto market.
2️⃣ Big fund movements: Institutions have been particularly quiet in the past two days, especially big players such as MicroStrategy. The market has calmed down a little.
3️⃣ Retail investor sentiment: Judging from the trading volume, the FOMO sentiment of retail investors is not as strong as before, which may be one of the reasons why Bitcoin cannot break through quickly.
What’s the next key point?
👉 Short term: We need to closely observe the support level near US$28,000. Whether it can be stabilized is the key. If it falls below, it may be time to test the next support level.
👉 Mid-term: If there are new positives in the market news, such as increased institutional investment or policy changes, then Bitcoin is still very likely to retest the target of $30,000 or even higher.
👉 Strategic advice: This trend is very suitable for fixed investment. A volatile market is a good opportunity to accumulate chips. Don’t panic just because of a drop in one or two days.