The core of the plunge a few days ago was on the asset side. As funds have been continuously concentrated on core targets in the past few months, a large amount of leverage has accumulated on Nvidia. With its third-quarter performance guidance falling short of expectations and the postponement of mass production of B200, a downward leverage market has occurred;
The decline in the asset side (Nvidia, Tokyo Electron and other AI technology stocks), accompanied by the exaggeration of the Bank of Japan on the liability side, further amplified market volatility; in the allocation of many funds in the United States, BTC and Nvidia are regarded as an investment portfolio, which has also led to a sharp decline in BTC.
The key to the future market is whether Nvidia can stabilize. At present, the first round of decline has basically ended. The follow-up is to digest the valuation of 60 times PE. After all, AI is not a bubble. It is highly likely that Nvidia will go out of a volatile market with a narrowing volatility, and digest the valuation through time function and profit growth.
In this way, the price guidance for BTC in the medium term should also be a volatile market. In the past few months, the price level of BTC has been mostly between 60,000 and 70,000, and it is still relatively low at present.
In the short term, BTC has strong pressure at 57,000. The bottom-fishing positions can be appropriately reduced. Looking forward to doing a reverse T (DOYR) within the day. Attached to the comparison of the power of buyers and sellers: