$BTC Last night it once again climbed to 80,000.
It rebounded from the June low by nearly 40%; last week it rose more than 20% on a single-week basis. Last week spot ETFs saw net inflows of about $1.9 billion—its strongest week since October of last year. Even yesterday, several hundred million dollars continued to come in.
The main drivers were the Ministry of Finance expanding long-term Treasury repo operations. The market interpreted this as suppressing yields and directing funds toward inflation-hedging assets. Combined with short sellers getting liquidated, it pushed things up for a round.
But trading volume in the 80,000-to-90,000 range has historically been thin, and analysts have also warned that the real test will be the subsequent pullbacks. A healthier scenario might be for it to first stabilize around the 75,000 area.
I’m more interested in whether the incoming capital keeps up, and this week’s PCE data, rather than chasing or selling into spikes.
For reference only, not investment advice.
#BTC突破8万
It rebounded from the June low by nearly 40%; last week it rose more than 20% on a single-week basis. Last week spot ETFs saw net inflows of about $1.9 billion—its strongest week since October of last year. Even yesterday, several hundred million dollars continued to come in.
The main drivers were the Ministry of Finance expanding long-term Treasury repo operations. The market interpreted this as suppressing yields and directing funds toward inflation-hedging assets. Combined with short sellers getting liquidated, it pushed things up for a round.
But trading volume in the 80,000-to-90,000 range has historically been thin, and analysts have also warned that the real test will be the subsequent pullbacks. A healthier scenario might be for it to first stabilize around the 75,000 area.
I’m more interested in whether the incoming capital keeps up, and this week’s PCE data, rather than chasing or selling into spikes.
For reference only, not investment advice.
#BTC突破8万