Negotiations have collapsed again. I feel there is nothing left to discuss. Currently, both the U.S. and Iran are trapped in a coward's trap; no one can stop! Oil prices will rise! $ETH
Today there are two major events: first, Trump ordered the blockade of the Strait of Hormuz, increasing geopolitical risks, and BTC temporarily fell below $71,000; second, the US spot Bitcoin ETF saw a net inflow of $787 million last week, and institutional buying is ongoing. My feeling is that, in the short term, we should first look at emotional suppression, with higher volatility, but as long as ETF funds continue, the downside potential for BTC may be limited, leaning towards consolidation and then recovery. $BTC
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Simple summary: The United States wants to withdraw, but Israel does not listen, and Iran feels that they are being deceived! Engaging in sneak attacks… So how can it be stopped? 1. How did the ceasefire come about? Mainly due to Pakistan's desperate mediation, and in the end, China gave a crucial push, and Iran agreed to a two-week ceasefire. Even Trump acknowledged that China played a significant role. 2. Iran announced "victory," listing 8 demands, such as the U.S. paying reparations, withdrawing from the Middle East, lifting all sanctions, and recognizing Iran's control over the Strait... But to be honest, the U.S. will not genuinely agree to any of these conditions; Iran is just shouting slogans internally. 3. Israel is unhappy and wants to continue bombing, believing that two weeks is too short and they want to drive Iran back five years. Moreover, Israel refuses to ceasefire with Hezbollah, which is a bug. 4. Iran wants to charge tolls: during the ceasefire, tankers passing through the Strait of Hormuz will be charged $1 per barrel in cryptocurrency (like Bitcoin). Empty ships are free. 5. Trump's operation this time is quite ridiculous: extreme pressure for half a day, and in the end, he softens first. The reason is that the domestic MAGA base has rebelled—staunch supporter Carlson is leading the opposition to starting a war, saying, "We only care about the Americas, don't meddle in other places." If Trump loses these votes, he might be impeached. 6. Three possible futures: ① Trump quickly defeats Iran; ② if unable to manage it, he will brag and then withdraw the troops; ③ stubbornly hold on until losing the midterm elections and being impeached. Time is on Iran's side. 7. Market reaction: Once the news broke, crude oil fell by 15%, while gold, silver, and U.S. stock futures rose. Global capital no longer believes Trump's "wolf is coming." Trump played big this time, but domestic pressure is the real crucial issue. Iran's unilateral announcement of victory, how much they can actually gain is hard to say. The outcome will be clear after two weeks of negotiations.
Trump's master manipulator, during his presidency, made over a hundred billion for the family. Can the midterm elections get through? Will Vance become the new president? $ETH #霍尔木兹海峡再次关闭
How much longer will the bear market last? Can we bottom-fish now?
In the pullback of the bear market, the emergence of 'new demand' will determine the duration of the entire bear market cycle.
The cost basis distribution heatmap of short-term holders (STH) gives us a very clear perspective. When there is a dense cost distribution in a certain range, it indicates that a large amount of new demand has entered the market.
From Figure 1, when BTC pulled back from the historical high of 120000 to around 105000, the first wave of bottom-fishing demand appeared (during 10/17-11/2).
I speculate that at that time, quite a few investors thought this was just a phase pullback, so they started building positions in batches from this point.
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