Waking up this morning, I believe many people were confused, not expecting Bitcoin to jump directly to 89,000.
The 89,000 that many people shouted for has finally arrived, but in this way, it seems everyone is having a hard time accepting it.
If yesterday was a wave of short squeezes, then today has been a massive long squeeze. Currently, it has rebounded by 10,000 points, and it's the same old saying: the price has returned, but the positions are gone.
Personally, I feel that the subsequent market trend will still head upwards👆, as the washout is meant for better rises. Additionally, Ethereum and altcoins did not follow Bitcoin’s drop this time; instead, most altcoins are still rising, indicating that funds seem to be flowing into Ethereum and altcoins.
I actually knew there would be absorption in the next 3-5 days, with a drop of several thousand points or even 10,000 points, but I didn’t expect it to happen so quickly; it was indeed unexpected. In extreme market conditions, everyone can lower their trading frequency; don’t trade just for the sake of trading!
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