Institutions increase their holdings of BTC, and ETFs have a significant inflow‼ ️
The interest rate cut and water release open the upward trend, and the decline is a buying opportunity💓
Last night, the US stock market Nasdaq closed down, ending the short-term rebound trend.
In recent times, Bitcoin has been very resistant to declines. Although the market has experienced a correction, the sentiment on the chain has not fluctuated, and institutions are increasing their holdings. This shows that for the Fed's interest rate cut and water release in September, institutional funds chose to increase their holdings of risky asset allocation.
This action also shows that institutional funds will return from long-short game to an upward trend in their judgment of subsequent market trends.
There will be core PCE data this Friday, and the market expects that there will be repeated risks. The impact on the interest rate cut is 25or50, and the probability of 50 is relatively small.
At present, the callback range of BTC and ETH is different. BTC has a smaller decline, while ETH has adjusted to the solid line position at the bottom of the previous upper shadow area. Here, both BTC and ETH have reached a position where the more they fall, the more they buy. The high point can be seen from the previous high point of the rise, BTC's 65,000 and ETH's 2820.
