#AI与GameFi市场表现
Bitcoin's astonishing reversal! Bull market suddenly turns into bear market?
Bitcoin has been fluctuating greatly. This month we have witnessed a significant surge, increasing by more than 30,000! Last week, Bitcoin was hitting new highs every day, with very strong buying interest. Just as it was about to break through the $99,000 mark, it unexpectedly turned down when it was just $400 away from $100,000. The $100,000 mark is a psychological barrier, and many traders were going long at this point. As a result, when Bitcoin retraced, many traders were forcibly liquidated, and this is still ongoing.
I may have been mistaken, but the overall market trend shows that Bitcoin dropped back to the $90,000 to $92,000 range after touching $97,000. However, many buyers made a fortune during this operation, with profits reaching as high as $5 billion! These operations, combined with market performance, have propped up Bitcoin, which surged more than $30,000 in just a few days.
Although the market trend has been somewhat similar in the last couple of days, looking at the charts and the 24-hour trading volume, sigh, the trading volume is only $44 billion, which is quite low. Therefore, I feel that Bitcoin is just putting on a brave face, trying to attract buyers to go long. But if someone really dares to go long, they might just get forcibly liquidated.
Although Bitcoin is still in the bull market range, I feel that today's bull market may be about to turn into a bear market. So everyone needs to be cautious and ready to respond at any time. In such a low trading volume market, it’s better for us to stay away. The big whales (large holders) are already moving.
Thank you all for taking the time to read!
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