I looked at the minute-level data and found that the upward trend started at 10:30 PM Beijing time, which represents two points: first, four US stocks, including $MSTR and $SMLR, only announced the purchase of BTC in one hour, especially with MSTR and SMLR's net buying amount close to $500 million.
And this positive news directly led to a surge in MSTR and SMLR after the opening, and this surge then stimulated the rise of #BTC, which is also the second point: the rise of BTC broke out only after the US stock market opened and saw a significant increase in volume, while the previous wave, although BTC also surged to $90,000, was purely due to MSTR's announcement, but the difference in trading volume is very significant.
Only after the US stock market opens is there a significant increase in volume and price together, so if the price continues to rise, the contributors this time should be MSTR and SMLR, which may periodically trigger investors' FOMO sentiment again, but it's hard to say how long it can last.
Therefore, for BTC, my consistent advice is to be bearish but not short, as you never know when an event will again awaken investors' emotions. Frequent trading may miss the opportunity to get in; as long as the trend doesn't change, holding might be the best approach.
This tweet is sponsored by @ApeXProtocolCN | Dex With ApeX
