This market is also interesting. For five months, the fluctuation range has been up and down by 15,000 US dollars. So far, the long and short sides of Bitcoin seem to have not figured it out.
Bitcoin has fluctuated by about 30% for five months and has been at a high of 70,000 for five consecutive months. However, the altcoins have been cut again and again in the past five months, and there has been an obvious bottom structure support recently. I also said that there was no break in every big drop in the past five months. In fact, it is because Bitcoin will not go downhill, but it has not broken through or fallen below this large range, which is very mysterious. The altcoins have never been cut like this in history. The overall market indicators have not gone bad. I feel that in addition to the pretext of listing and pricing, the most important thing is the intensive contract volume. For as long as 10 months, the contract volume has steadily increased. If you keep paying attention to the data, you will find that the leverage that has been exerted for a few days will come back in two days. I also talked about this issue with my friends, and they all think that the market has become a "casino". The market share of the largest exchange in the universe has continued to decline, but the revenue has not declined. But that's not right. Now CB should be the first one. It's a matter of time. The positive funds and ETF custody flowing into the market are all in CB. Some of the money has been diverted to small exchanges and DEX. The market share of DEX is at a historical peak.
I hope that the big Bitcoin holders will stop fighting each other. The short-term upward space is there. There are no retail investors playing Bitcoin. It's all institutions fighting each other. I hope you can fight and decide the winner as soon as possible. You should be tired of swinging in this range for five months. However, for traditional hedge funds, the fluctuation of this range is simply the regular army entering the slaughterhouse. There is no point in being anxious. Logically speaking, I think you have reached the limit of fighting for four months. In the third month, there were no retail investors participating in the fight. Now it's just pure dog big holders fighting each other. There is nothing to fight for the broken pie, and there is nothing to brag about. The size is too large... Five months of the same day is not attractive.
