The mainstream crypto scene has been pretty clear lately, with some bounces but no real reversals. The upper resistance levels are holding strong, and we continue to see downward fluctuations. Those who were hoping for a reversal have likely been slapped back to reality, but it's not too late to wake up. Just watch out for those who think we're at the bottom and it's all good again.
Let's set aside the stale narratives and uncertainties for a moment and focus on this: Recent data shows that Japan's 10-year government bond yield has risen by 10 basis points to 2.8%. No need to spell it out; those who understand know exactly what the yen is pegged to. This quasi-rate hike in the current environment makes it a bit fanciful to think we can drive the crypto market up based on economic narratives. It's best to either short or sit on the sidelines for now; this situation will likely push the crypto market lower. However, one comforting point is that Bitcoin at 60k and Ethereum at 1800, in my view, won't go any lower.
Now, on to the short-term. It's the beginning of another week, and the familiar early Monday drop is here. Whether we'll see a bounce during the day isn't the main concern; the crucial point is that the drop hasn't reached its target yet. The upper levels to watch for a new entry are around 77.7k/2165, but it might not give us that opportunity. Then we could look for the next dip. Without going too far, a small trend reversal won't be confirmed until Bitcoin hits 75.8k/74.6k…
#比特币ETF净流入1.31亿美元 #日本证券商拟推加密投资信托 $BTC $ETH
Let's set aside the stale narratives and uncertainties for a moment and focus on this: Recent data shows that Japan's 10-year government bond yield has risen by 10 basis points to 2.8%. No need to spell it out; those who understand know exactly what the yen is pegged to. This quasi-rate hike in the current environment makes it a bit fanciful to think we can drive the crypto market up based on economic narratives. It's best to either short or sit on the sidelines for now; this situation will likely push the crypto market lower. However, one comforting point is that Bitcoin at 60k and Ethereum at 1800, in my view, won't go any lower.
Now, on to the short-term. It's the beginning of another week, and the familiar early Monday drop is here. Whether we'll see a bounce during the day isn't the main concern; the crucial point is that the drop hasn't reached its target yet. The upper levels to watch for a new entry are around 77.7k/2165, but it might not give us that opportunity. Then we could look for the next dip. Without going too far, a small trend reversal won't be confirmed until Bitcoin hits 75.8k/74.6k…
#比特币ETF净流入1.31亿美元 #日本证券商拟推加密投资信托 $BTC $ETH