Core content: Where has the bull market gone now? Is there still a chance for copycats?

First of all, let’s review this round of market conditions so that we can learn about the new by reviewing the past.

This round is driven by the inflow of funds with Bitcoin as the core, thus promoting the bull market.

Market Leader: Bitcoin (BTC)

Driving Core: Funding + Narrative

Main funds: ETF

Narrative: end of interest rate hike + expectation of interest rate cut, expectation of Bitcoin halving, inscription (asset issuance method), expectation of ETF, entry of funds into the market + emotional promotion

1. Bottom foundation: Bitcoin emotional bottom, K-line bottom

2. The trend of Bitcoin is the result of the accumulation of good news.

Reasons why the market is weak now:

1. ETF is expected to be implemented

2. ETF funds entered from small to large, until recently they returned to a steady state of entry and exit (emotional attention decreased)

3. Bitcoin halving is approaching

4. Chip exchange, the main force needs to continue to wash away a large number of early profits near new highs

5. Market sentiment is overdrawn

It is difficult for us to know where and when this wave of main force will wash out. From a technical point of view, 62000U and 59000u are still very strong supports, and they are also worth entering. As for when the wash will last, as long as it is above 62000 The longer it lasts, the more conducive it is to the subsequent pull-up. The main force is very thin and will not use space to exchange chips. This is not cost-effective. It is in the best interest of the main force to use pins and use time to wash the market.

About Hot Copycat Season:

This round of funds has been coming in and out around Bitcoin. All the funds coming out of Bitcoin have entered hot spots and copycats with positive expectations. 🐍 District Qiewei: rgbn996 The bigger the hot spot narrative, the longer the market will last. As the currency grows, With the increase, it is already difficult to have the overall copycat market like in 2021, at least until the end of the bull market. I personally think that this hot season should last until the end of the mid-term bull market.

Conclusion: It is difficult for Bitcoin to fall sharply. It is currently in a resting stage after continuous pullbacks, which is equivalent to the middle stage of a bull market.

#大盘走势 #Meme #WIF #sui #SHIB