BTC continues to consolidate, ETH awaits a breakout
It is clear that Bitcoin may continue to retrace, and today's market fear and greed index continues to cool down, reaching 75. The state of red warmth is long gone, and the short selling power in the market is starting to stir.
In the US stock market, the Bitcoin stock MSTR has raised funds to buy another 50,000 Bitcoins at the high of 97,000, which indicates a determination to stick to the plan. Even though it is clear that the market has begun to target its own stocks, MSTR is resolutely raising funds to buy at high levels. As of now, MSTR has clearly reported losses. If MSTR decides to reduce leverage in the future, it could very likely trigger a cascade. My advice to you is not to use leverage. If you have spot holdings, hold them; if you have leverage, reduce it.
ETH is a standout in the crypto space. ETH/BTC continues to improve. We should never doubt the strength of the leading altcoins. We remain optimistic about ETH; when ETH/BTC reaches 0.05, it means ETH still has at least a 1000-point increase potential.
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