In-depth analysis of the cryptocurrency circle: the similarities and differences between the bull market trajectory in 2024 and 2021, and the recent market volatility
Although the cryptocurrency market in 2024 showed an institutional bullish trend, with huge amounts of money pouring in from BlackRock ETF, the trend was far inferior to the Grayscale heyday in 2021. At that time, the contract leverage piled up like a mountain, which eventually led to a collapse; today, Bitcoin's independent bull market attracts huge leverage, and contract positions are unprecedented. Good news came frequently, from the halving effect to the support of institutional ETFs, the Fed's dovish signals and Trump's support, but none of them stopped the market from taking a sharp turn. After the weekend carnival, BTC plummeted from 70,000 to 62,000 in 72 hours, with no unilateral downward movement, and market expectations turned into bubbles. In summary, the market bubble has reached its extreme, and the subsequent trend is worrying. Where is the future of the big pie? Only time can give the answer.
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