1. $BTC took the opportunity of weak liquidity during the Christmas season to drop to a low of 92,500. In the last 24 hours, liquidations reached $285 million, affecting both long and short positions. Overall, the liquidation volume is not large, and trading volume has not increased as a result. With the holidays approaching, American investors' trading appetite is low.
2. Today, the possible price range is between 91,000 and 95,000. If it falls below 91,000, $1.4 billion in long positions will be liquidated; if it rises above 95,000, $1 billion in short positions will be liquidated. Around 4-5 AM, during the shift change between East and West, the Eastern market has pulled from 93,000 to 95,000.
Tonight is Christmas Eve, and U.S. stocks will close early; tomorrow is Christmas Day, and U.S. stocks will be closed. Then we enter the weekend, with the initiative in the hands of Eastern market makers, so be cautious of contract risks and use leverage wisely.
3. Yesterday, MicroStrategy, with its infinite bullets, purchased $BTC again, totaling 5,262 coins at an average price of $106,662. They did not buy directly from the market but rather through OTC, with the price likely agreed upon earlier and executed yesterday. Therefore, from the price of this large purchaser, it seems that the current price in the secondary market is not very expensive.
4. Although $BTC has dropped significantly, the second-tier coin $ETH has shown very strong performance, with only a small decline and a strong rebound. $ETH has driven a collective strength in altcoins; it’s truly a sight to behold. Originally, $BTC's market share was heading towards 60%, but it has now been broken, although the spring of altcoin season has yet to arrive.
