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Based on the recent surge of Bitcoin, the situation looks quite healthy. A couple of days ago, we saw a fluctuation that drained some altcoins, and then, before most retail investors even reacted, a new high was directly established, followed by a slight pullback that tempted some shorts, continuing the push towards new highs.
I know some people are already considering shorting, especially the seasoned investors; it's said that novices die from chasing highs, while veterans die from shorting too high.
However, don't rush to short just yet. You can look at shorting or even short other cryptocurrencies like ETH, but be cautious about shorting BTC.
Although the current positions indicate that if it drops, the amount of long positions liquidated will be higher for the market makers, there are multiple market makers involved with Bitcoin. If one market maker decides to dump, they must consider whether they can buy back at a lower price without benefiting other market makers.
Compared to harvesting a bit of long positions, losing the chips in hand would be a greater loss; after all, Bitcoin currently has more wolves than meat, and many institutions are eyeing the opportunity to scoop up the meat. This is also why Bitcoin has been so strong in this halving bull market!
Next, on the 19th, the Federal Reserve is likely to meet and cut rates by 25 basis points, which gives Bitcoin a chance to challenge the $115,000–$120,000 mark. Hold onto your chips and don't fear heights!
I know some people are already considering shorting, especially the seasoned investors; it's said that novices die from chasing highs, while veterans die from shorting too high.
However, don't rush to short just yet. You can look at shorting or even short other cryptocurrencies like ETH, but be cautious about shorting BTC.
Although the current positions indicate that if it drops, the amount of long positions liquidated will be higher for the market makers, there are multiple market makers involved with Bitcoin. If one market maker decides to dump, they must consider whether they can buy back at a lower price without benefiting other market makers.
Compared to harvesting a bit of long positions, losing the chips in hand would be a greater loss; after all, Bitcoin currently has more wolves than meat, and many institutions are eyeing the opportunity to scoop up the meat. This is also why Bitcoin has been so strong in this halving bull market!
Next, on the 19th, the Federal Reserve is likely to meet and cut rates by 25 basis points, which gives Bitcoin a chance to challenge the $115,000–$120,000 mark. Hold onto your chips and don't fear heights!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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