Today I had an impromptu meeting that lasted more than two hours, missing BTC's new high again, and also missing today's URPD data. After the new high, the data model has changed again, and I have to redo a set.
Yesterday, the main topic was the retreat of FOMO sentiment among American investors. Even during the closing of the U.S. stock market early this morning, we could see #BTC nearly falling back to $90,000, but unexpectedly, Asian and European investors continued to FOMO. Even after the U.S. stock market opened today, $MSTR surged, while $COIN was down at the opening. Only MSTR and its CopyCat were up.
I really didn't expect MSTR to rise another 10% at this point. Yes, it surged 10% after reaching a new high, directly touching $430. It was actually MSTR's big surge that drove BTC's rise, as it and its CopyCat bought nearly $500 million worth of BTC.
Well, the depressed FOMO sentiment has returned, rising again. This is why I always say you can be bearish, but don't short, because you never know what situation or content might stimulate users' emotions. If you shorted yesterday, you'd be feeling bad today, and we don't know how long this FOMO sentiment will last. We can only measure it through trading volume and the reference of spot ETFs.
This is also what I hope my friends understand about the trend: as long as the trend does not change, subsequent positive news will amplify users' emotions exponentially. The trend is the most important.
From the URPD data, the current support has not fundamentally changed.
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