Ends on March 22, 2024. #BTC Spot#ETFbitcoin The cumulative net inflow is US$11.2 billion, and the net inflow has been negative for 5 consecutive days. With a retracement of approximately 10% from the highest net inflow amount of US$12.1 billion, the total net assets dropped from 60.96B to 52.54B, a retracement of approximately 13%.
Brad IBIT’s retracement was exactly -13%
#BTC The callback is also -13%
Because the current position of Bitcoin is just around the previous high of 69,000, coupled with factors such as spot ETFs, #比特币减半 , #HotTrends , and Japanese yen interest rate hikes, it is a bit unclear for everyone. In fact, the market is often or always like this, and every period is accompanied by endless changes and news. We can simplify the complex and eliminate the factors that interfere with us, leaving only the most real and least deceptive things, so that we can see the essence of the market clearly. ----Volume-price relationship (see the picture below)
This is the data of COINBASE. Because ETFs are all traded here, the data here will be more accurate. The amount of each increase (blue) corresponds to the relative high point. The falling volume (yellow) corresponds to the relative low. We briefly discard all kinds of news from our brains and only observe the volume and price relationship on the chart. Is the current position (monthly line level) in an upward trend or the beginning of a downward trend?
Put this answer in the comment area.......
Any news needs to be implemented on the market. Otherwise it is invalid. This is my trading experience and principle. If the market peaks, there should be good news all over the sky, and all kinds of news that 100,000 is not a dream, so that profit orders can be distributed at high levels and profits can be taken. At this time, the volume energy must be increased. But not now
Cycle---The Fed is now incapable of raising interest rates. It can be said that the Fed's second-in-command is sent out to raise interest rates during a short period of time. It is normal for the sensitive crypto market to experience a correction at this time. At this time, institutions are waiting and watching, and it is normal for individual large investors to take advantage of the institutions' breathing space to enter the market to grab funds. (Picture below) Note: The picture quotes Ni Da’s X, which is also found in the square. You can follow it by yourself @PhyrexNi . After all, the interest rate cut cycle has not yet begun. The worst has passed and the cycle has not officially begun.
So my conclusion is:
A; The volume-price relationship does not conform to the characteristics of the top
B: The message surface does not meet the top characteristics
C: The cycle is in the early stages of interest rate cuts
A+B+C=The top structure is not established
If you have different opinions, please leave your opinions in the comment area~~
