April 2, 2024 Grandpa clocked in
Today, the pie suddenly plummeted 5%, falling rapidly from 69,000 to 69,000. According to Coinglass data, long positions in the contract market were liquidated by US$146 million. In fact, in my opinion, this drop is really nothing for crypto assets. A mere 5% liquidated the position by 1 billion yuan, which shows that the bullish sentiment in the market is still too strong.
During the period when Big Pie reached 70,000 but failed to break through, tariffs were also rising quietly. This shows that even after a 20% drop, the market remains overall bullish. However, judging from this wave of decline, the market just wants to continue to drive the leveraged bulls off, but there is no signal to turn downwards. There will be multiple wide fluctuations in the market in the future.
In fact, from a financial perspective, there are really no signs of shortage in the market, and there are even no obvious signs of the main force retreating. But even so, I still stick to that point of view: the market has not obviously turned, but it can be defended in advance. The biggest feature of this wave of market is the rotation of sectors. The recent solana ecosystem has made great progress, and there may be others next month. This kind of market is extremely difficult for retail investors to operate.
The market will still fluctuate in the future. The potential energy of this wave of decline has been released. It will rebound first, but it can be predicted that there will be a larger retracement in the future. In the past few days, everyone has continued to reduce their positions while the price of Bitcoin has reached 70,000. If you did so, you can take it back first, with a profit of about 5 points. The subsequent operations must be more Buddhist.
Thanks for following and liking.