The bulls are weakening, where will this round of rebound go?

Bitcoin hit the 68,000 pressure level, but failed to stand firm. It fell for 6 consecutive days in four hours, and the short volume did not increase, showing a high-level consolidation state. It is certain that liquidity has risen, but it still needs to be driven by ETFs after the opening of the US stock market in the evening, so focus on the Bitcoin ETF in the evening

This week, Bitcoin ETFs have a total inflow of nearly US$1.4 billion, and yesterday they have inflows of US$457 million. Compared with before, the purchase volume of Bitcoin ETFs has increased by nearly 10 times, and the market liquidity has fully risen. Therefore, Bitcoin's performance this week is very eye-catching, so that Bitcoin began to suck blood from yesterday, and the Shanzhai funds flowed into Bitcoin, so the probability of hitting 70,000 this time has greatly increased!

Shanzhai

Bitcoin continues to fluctuate at a high level, and the Shanzhai peak selling sentiment has become increasingly serious. The continuous sucking of blood has caused insufficient funds in the Shanzhai market, and it is unable to continue to drive the rise. As mentioned in the previous article, there will not be a scene of thousands of coins flying together. At present, the crypto market is moving towards formalization. Most retail investors' trust in crypto is limited to Bitcoin, not Shanzhai. This can be seen from the ETF purchase volume applied by Shanzhai leader ETH. Therefore, the inflow of off-market funds will only flow into Bitcoin. Only when Bitcoin generates profit-taking will funds flow into Shanzhai. In this round of Bitcoin pull-up, Shanzhai followed for 2 days, and the profit-taking has basically reached the top; so we should be cautious about Shanzhai at this stage, and never chase highs. Wait for the opportunity to fall back and enter the market in batches, and make reasonable layouts!