Let's look at two important data:
Yesterday, the Bitcoin spot ETF had a net inflow of 479 million US dollars, with large net inflows for two consecutive trading days;
Bitcoin futures holdings hit a new high of 42.5 billion US dollars, and the holdings increased by more than 5 billion US dollars in two days.
On the one hand, ETF funds continued to flow in in large amounts, and strong buying pushed $BTC up in a trend. On the other hand, high leverage pushed the holdings up rapidly, making the market continue to generate deleveraging needs.
Next, the script for $BTC may be to take three steps forward and then take one step back to clean up the high leverage, while the script for altcoins may be to take three steps forward and take two steps back.
Therefore, don't be too aggressive when the market rises to avoid liquidation caused by high leverage. Don't be too afraid when the market falls, and the pullback is an opportunity to increase your position.
