Today, BTC is moving quite choppily; both longs and shorts are tugging at each other.
On the options side, there are some large-sized positions being opened on the long side. But in the mining sector, there’s news that an established mining pool has applied for bankruptcy. Companies holding BTC are also selling coins to repay debts and pivot.
There are developments on both sides, but neither has gained an absolute upper hand.
In times like this, the worst thing isn’t that the direction is unclear—it’s chasing back and forth.
Right now, I’m more inclined to view this as consolidation and digestion, and to wait for the market to choose a direction on its own.
Do you think it’s more like building momentum right now, or do we need to wait a bit longer?
For market observation only, not investment advice.
#BTC #Bitcoin #Crypto
On the options side, there are some large-sized positions being opened on the long side. But in the mining sector, there’s news that an established mining pool has applied for bankruptcy. Companies holding BTC are also selling coins to repay debts and pivot.
There are developments on both sides, but neither has gained an absolute upper hand.
In times like this, the worst thing isn’t that the direction is unclear—it’s chasing back and forth.
Right now, I’m more inclined to view this as consolidation and digestion, and to wait for the market to choose a direction on its own.
Do you think it’s more like building momentum right now, or do we need to wait a bit longer?
For market observation only, not investment advice.
#BTC #Bitcoin #Crypto