What will happen to the BTC market next?
1. After the Bitcoin price adjustment, ETF investors have a strong opportunity to buy on dips. The Bitcoin ETF experienced significant capital flows on July 6, receiving a net inflow of $143.1 million, the largest amount in a month.
2. The large-scale trend in 2024 is similar to that in 2021. In 2021, there was a Grayscale institutional Bitcoin bull, and in 2024, there was a BlackRock institutional Bitcoin bull. They both peaked in the spring at the beginning of the year, had a major correction in the summer, and then had a second wave of bulls in the autumn. Basically, The upper shock will be almost the same by the end of August and early September.
3. The liquidation data in the past few days has been comparable to the FTX thunderstorm at the end of 2022. Many mining machines have reached shutdown prices, and the characteristics of the bottom are gradually becoming more and more. I suggest everyone not to be too emotional and bearish. We are currently in the Bottom line, the answer will be known in a few months.
4. Looking at the longer term, this round of the stock market has reached about 50%, and there is still room for growth. Because the United States has not yet released large-scale water supplies, and the general election is still in its early stages, these are all factors that affect the rise of the currency circle.
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