What will be the trend of the market in the future? Will it directly liquidate longs as most people predict?

Let's talk about the reasons for the rise in the past few days.

On the one hand, it is because Powell said that the economy has not declined, and on the other hand, it is the token2049 event held in Singapore. This involves a concept of "conference market".

Like the previous cryptocurrency conference held in Hong Kong, such a grand event usually gathers "half of the world" in the currency circle. During the conference, the market performance is usually not bad, after all, these people have the ability to pull the market. If the market is too bad, how can the conference be held happily?

Not only do they have enough chips in their hands, but they can also create hot spots for speculation. For example, the founder of Ethereum, Vitalik Buterin, sang a song at the conference, which directly increased the market value of Ethereum by 30 billion US dollars, and the increase and trend were stronger than BTC.

Next, let's roughly predict the future trend of the market.

It is obviously unrealistic to start a violent bull market at this stage. You can refer to the experience of historical interest rate cuts, and most of the current altcoins have large bubbles and too high market value.

At present, Bitcoin will liquidate 260 million shorts at 65,000 and 750 million longs at 60,000. Combined with the above, the probability of a downward trend at this stage is very high, and it is not worth buying at a high price.

Of course, many people go short after seeing the liquidation data, thinking that the price is high enough now. Why can't we liquidate shorts first and then longs? And the market is still in a state of shrinking volume and may continue to rise.

Therefore, long orders can leave some positions to earn profits, and shorts are better off waiting for the trend to reverse clearly before "betting".