#BTC连续破新高，你看到多少？ #市场回调，观望还是上车？ #BTC冲破9万 $BTC
As soon as the CPI was released the day before yesterday, the result was very good. BTC jumped from 87,000 to 93,000 in one breath, which was a complete carnival. The overall visible trend is that there is no black swan event that can stop the rising market.
So what stage are we in now?
From the weekly chart, **there are only 3 consecutive positive lines! **, in the history of BTC, there have been many weekly positive lines of 5 consecutive positive lines, 6 consecutive positive lines, and even 7 consecutive positive lines. For example, in October 2023, 8 consecutive positive lines were opened, which is still fresh in our memory. In 2021, there were even 7 consecutive positive lines, and 4 super 4 consecutive positive lines with very high energy levels. And after 2 weeks of adjustment, there were 3 super super weekly 3 consecutive positive lines with energy levels twice as high as this. So it is enough to prove that **currently, it is just the beginning of the bull market**.
The current daily trading volume of Bitcoin is 18 billion US dollars, and the average daily trading volume in April 2021 was **50 billion** US dollars (only spot trading, not contracts), so it has not yet reached the trading peak in 2021, and this bull market trading volume will definitely surpass that of the bull market in 2021. Why?
We know that in the last wave, it was the institutions that were strong, but this time it is the institutions + the government that are strong.
How much Bitcoin did institutions buy in the 2021 bull market? The estimated result is about 1.26 million to 1.36 million. If converted into cash (based on a conservative calculation of $40,000, most institutions should be below this price), the maximum estimated total value is about $50 billion.
Now let's take a look at the current purchasing power of institutions. This time, ETFs have been added. From the ETF data table below, we can see that the current purchasing power of ETFs is 1-2 billion per day. If I assume 22 working days a month, it is 22-44 billion. So the volume for 2-3 months must be at the level of 100 billion US dollars, and this only counts the ETF level.
The purchasing power of institutions and governments in this round must be much higher than the previous wave. Last time, institutions such as MicroStrategy and Grayscale appeared, and this time, the real super whale BlackRock and the attention of the world's top government, the United States, appeared. Therefore, if this round of bull market can be successfully launched and detonated, it will definitely be an unprecedented market.