April 8, 2024 Grandpa checks in

In the past two days, a new concept BVM has emerged and appeared in the public eye. The transaction volume and price of Bitcoin inscription ecology and on-chain NFT have both increased. The market value of Runestone has exceeded BAYC, which means that the top NFT brand in the Bitcoin ecology has officially surpassed the top NFT brand in the Ethereum ecology. At the same time, the discussion on ecological expansion has become lively again, and RGB++ has gradually been mentioned by more projects. From this point of view, the inscription NFT market in the Bitcoin ecology may once again exert its strength and become the driving force for a new round of market conditions.

In fact, the launch of the last round of market was also prompted by BRC20. ORDI and other stocks were listed on the stock exchange one after another. The beautiful wealth-making stories attracted a large number of newcomers to enter the market. With the support of ETF, the price of Bitcoin has been rising all the way. Perhaps affected by this wave of Bitcoin ecological NFT market, the price of Bitcoin has once again reached 70,000, and is currently around 71,000, just a few points away from the new high of 73,000. Although the market has not risen much, the rise of Bitcoin can basically eliminate the decline caused by the previous negative market.

In the next market, the breakthrough of Bitcoin is crucial, because it is supported by the NFT market, and the funds of ETFs have shown net inflow again in recent days, so there is still a chance to break new highs. Once Bitcoin breaks new highs, we can continue to party and dance. At present, it is still an independent market for Bitcoin, but it doesn’t matter. The direction of the market still depends on Bitcoin. In fact, if Bitcoin breaks through first, it can give us more reaction time.

In terms of operation, I still say that I will take as many positions as I have received in the past week, and wait for the big cake to hit the high level before seeing whether to sell it. In the short term, the situation is definitely good, and in the general direction, it has reached the 73,000 pressure level again. We can continue to sell the chips at this pressure level. Other mainstream and copycat stocks have not officially rebounded. When they rebound and the big cake continues to go sideways, we will decisively sell them. After all, the pressure of just over 70,000 has been tried several times but failed to break through, and this may also happen this time.

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