Where will the BTC market go next?
1. After the Bitcoin price adjustment, ETF investors have a strong opportunity to buy on dips. The Bitcoin ETF experienced significant capital flows on July 6, receiving a net inflow of $143.1 million, the largest amount in a month.
2. The large-level trend in 2024 on the weekly chart is similar to that in 2021. In 2021, there was a Grayscale institutional Bitcoin bull, and in 2024, there was a BlackRock institutional Bitcoin bull.
They all peaked at the beginning of the year and in the spring, with a big correction in the summer and a second wave of bullish returns in the fall.
Still the same sentence: the main decline in 21 is 4, 5, and 6 months
In 2024, there were three months of May, June, and July, which basically fluctuated until the end of August and the beginning of September.
3. The liquidation data in the past few days has been comparable to the FTX thunderstorm at the end of 22. Many mining machines have reached shutdown prices, and the characteristics of the bottom are gradually becoming more and more. I suggest everyone not to be too emotional and bearish. We are currently in the Bottom, we’ll know the answer in a few months
4. Looking at the longer term, this round of the stock market has reached about 50%, and there is still room for growth. Because the United States has not yet released large-scale water supplies, and the general election is still in its early stages, these are all factors affecting the rise of the currency circle.
