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Yesterday, the inflow of Bitcoin spot ETF exceeded US$340 million, helping Bitcoin rise from 51,000 to 57,700. This increase has exceeded the performance of most copycats. At the same time, the Bitcoin financing interest rate is now 91% annualized. Interest rates are already quite scary. I think the market is already brewing for deleveraging, which will appear in the next 1-2 days. 57500 is an important Fibonacci resistance level. I will place a callback short order at this price.

Yesterday, the inflow of Bitcoin spot ETF exceeded US$340 million, helping Bitcoin rise from 51,000 to 57,700. This increase has exceeded the performance of most copycats. At the same time, the Bitcoin financing interest rate is now 91% annualized. Interest rates are already quite scary. I think the market is already brewing for deleveraging, which will appear in the next 1-2 days. 57500 is an important Fibonacci resistance level. I will place a callback short order at this price.

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