It has bottomed out in the short term and will fluctuate repeatedly.
I have figured out the position holdings. The previous set has indeed changed because the size of Bitcoin has increased and the main participants have also changed. Today I have been struggling with the issue of position holdings.
In 2019, BitMEX cleared long positions once every 1 billion Bitcoin positions, and the market plummeted.
Now Bitcoin is larger in size, with a position holding of 5-6 billion. The leverage effect of clearing 1 billion+ is the same. This also makes it easier for the main players to come and go to harvest. It is not realistic to completely blow up the longs. The current position holdings match the current market value. In the future, Bitcoin will be cleared by 6 billion, 1 billion, 1.5 billion, and 2 billion.
It is already difficult for Bitcoin to double, and the main players can only make profits through the coming and going of waves.
Breaking 55,000 during the day, the position was blown up by 500 million, and huge liquidity has been obtained. Bitcoin has bottomed out in the short term. I have figured out the logic. We can no longer use the past logic to look at the current market size. Buy it back in the second round
