I found that this push was due to the joint push of HY and the futures market. So why, who is behind this?
I found through BlackRock's financial report that with the continuous increase in ETFs in the US market, a large part of Bitcoin's liquidity is locked by ETFs. When the market liquidity is exhausted, but the market liquidity remains unchanged, the first thing we need to consider is: the first futures market, then our industry attributes, he will have an additional HY market, so in the process of combining the two parties this time, it was suddenly discovered that the spot market is relatively scarce, because after the continuous appreciation of ETFs, the spot in the market is gradually decreasing
Let's recall the bad times in the past two years. Do you remember how it was handled in the end? So it reminds me of what kind of process it will be when we finally push the upward end?
I think it must be after the futures market ebbs, this time it will be much quieter, so has the total position in the futures market decreased again? If you are still deliberately bearish without reduction, I can say that this is irrational. I have been saying that this push will definitely give the market a tortoise jelly. Many people have been bearish all the way and have been hurt.
Let's wait for 2025, there is still more than a month
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