Today, Bitcoin's price has slightly fallen, and some friends are beginning to worry whether the bull market is about to cool down or if the market is preparing for a significant correction. Frankly, during times like this, it's not necessary to pay too much attention to price fluctuations, especially on weekends. Even the trends of altcoins may not hold until the market opens next Monday.
Trading volume in the market is generally low on weekends, and a few small transactions can cause significant fluctuations. Whether it has truly entered the 'altcoin season' will depend on the attitude of American funds when the U.S. stock market opens next week. If Ethereum can maintain a gain of more than 5% and its upward momentum exceeds that of Bitcoin, there may still be something to look forward to.
Looking back at the past week, the market's hot topic has undoubtedly been MSTR. This topic is likely to continue to evolve next week. Michael Saylor recently revealed in an interview that he raised $10 billion over the past month to purchase Bitcoin. Arkham's data also shows that MSTR currently has $3 billion worth of Bitcoin to buy. However, it is important to note that this funding will likely be purchased through over-the-counter (OTC) transactions rather than directly on the secondary market, so its direct impact on market prices may be limited. But if Saylor announces that he has completed the purchase of $3 billion in Bitcoin, it would be a different story.
In addition, there is another 'big player' worth paying attention to this week — BlackRock. Data shows that in the past five trading days, BlackRock has purchased a total of 21,294 BTC, with total spending exceeding $2 billion. Overall, the current market sentiment is relatively stable, and there has been no panic selling, with no significant changes in the chip structure. From the existing data, a large number of investors have built positions in the $98,000 to $99,000 range, while the positions in the $87,000 to $96,000 range amount to approximately 880,000 BTC. This indicates that short-term funds are flowing towards higher price ranges; as long as market sentiment does not collapse, the possibility of a significant retracement is low. Therefore, a cautious bearish outlook is possible, but it is not advisable to short easily.
