Some small discoveries from the data 💡
$ETH The concentration of short chips has reached an extremely high level during the year. The highest concentration of short chips this year occurred when the first fall from the 4k high was in March, and then the short-term low appeared three days later and began to rebound 📈.
Looking at $BTC , it has just entered a state of concentration of short chips. The concentration is not at a high level, which is a strong performance relative to ETH. However, the concentration of shorts may also increase further. If we add kinetic energy performance for analysis, we can find that the recent squeeze kinetic energy performance is similar to that from February to April this year. The current kinetic energy is in a bull squeeze state (at the blue line). It was in a similar kinetic energy state in mid-April and then the bull kinetic energy weakened. The market turned bearish and fluctuated, falling for about half a month to its May peak and short-term low.
Based on the above findings, will the same situation happen in the market situation? That is to say, the market will begin a short-term rebound next week after a rapid correction this week, and then fluctuate back and forth for about half a month until it begins to rise in early 2025? Worth continuing to observe!
Data source:blave.org
