Bitcoin has failed to break through the 7 mark after three attempts. There are multiple positive news in the cryptocurrency circle, so why is the market not rising?
The current price of Bitcoin is close to US$68,000. Since the correction and shock in March this year, this is the third time that it has reached around US$70,000 on a weekly basis.
As the saying goes: Three times the limit, Bitcoin has failed to reach the $70,000 mark three times. The low market sentiment has made many people feel that the market is not doing well and they have no confidence in the subsequent market.
It is too early to draw a conclusion on this point. Bitcoin has not yet closed this week, but judging from the current market trend, there is a high probability that there will be no reversal signal when the weekly line closes, which means that the upward trend has not ended yet.
On the other hand, the reason why market sentiment is not high is that there have been continuous good news recently: Ethereum ETF has officially landed and started trading, and Trump gave a public speech at the Bitcoin conference, expressing his support for the future development of the encryption field.
The question is, with such a big positive news, why doesn’t the market rise? Is the positive news bad news? This can’t stimulate the market.
There are many kinds of positive factors, and we need to analyze them from multiple dimensions, whether they are long-term positive or short-term positive factors. Long-term positive factors will not immediately show up as a big positive line in the short term, but for the development of the entire industry and the huge future market, obstacles are constantly being cleared. If there are continuous positive factors but the market does not rise, it can only mean that the time the main force has been waiting for has not yet arrived.
Many giant institutions in ETFs have a demand that is not just a small amount of money purchased by retail investors. They need enough time and space to accumulate chips. Once the time comes, even the smallest positive news can become a reason for the rise. Share it with everyone in real time at any time!
