Some people are waiting for the halving climax, while others are waiting for the gold pit
When Bitcoin hit $70,000 again and Ethereum hit the $4,000 mark again, the market suddenly became "cold". The fundamental reason is the lack of market liquidity. Bitcoin's on-chain transfers on weekdays are even only tens of thousands, which is similar to the bear market in early 2023. The gas of Bitcoin and Ethereum has dropped to historical lows, and the market's willingness to buy and sell is very low.
For both OTC and on-site investors, the current price is not attractive. From the position data, BTC fell from $70,000 to $56,000, and then rebounded to $70,000. In this process, there was no large number of users leaving the market. On the contrary, the market trading volume fell, which shows that fewer and fewer investors are willing to participate in turnover. There is no big money to sell, and there is no big money to buy. Only a small amount of retail funds are gambling. This is the current situation of the market.
The big funds waiting to buy are looking forward to the "gold pit"; and the big funds waiting to sell are looking forward to the "halving climax", and the decision is in the hands of the Federal Reserve.
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