Binance's move to buy $1 billion worth of BTC, although spread over 30 days, has limited direct impact on the market. However, for those short-selling large amounts, this is a strong signal.
This indicates that Binance will be in a net buying position for the next 30 days and will not be selling off. Simply releasing this signal to the market is enough to make some aggressive shorts reconsider.
In fact, since Binance announced the news yesterday afternoon, the holdings of BTC have quickly declined from the peak. This represents a weakening of the downward momentum, and shorts are closing their positions.
The market is a dynamic game process, and shorts cannot determine whether other important players (Justin Sun, Tether) will follow Binance's actions. But the mere existence of this expectation will lead aggressive shorts to choose to back off.
In the middle of the night, gold and silver plummeted, but BTC rebounded from the bottom, which is a positive phenomenon. Currently, BTC is close to the previous $80,000 Second Leg, and it is very important for the market to have this kind of confidence injected.
#贵金属巨震 #币安10亿美元增持BTC计划
This indicates that Binance will be in a net buying position for the next 30 days and will not be selling off. Simply releasing this signal to the market is enough to make some aggressive shorts reconsider.
In fact, since Binance announced the news yesterday afternoon, the holdings of BTC have quickly declined from the peak. This represents a weakening of the downward momentum, and shorts are closing their positions.
The market is a dynamic game process, and shorts cannot determine whether other important players (Justin Sun, Tether) will follow Binance's actions. But the mere existence of this expectation will lead aggressive shorts to choose to back off.
In the middle of the night, gold and silver plummeted, but BTC rebounded from the bottom, which is a positive phenomenon. Currently, BTC is close to the previous $80,000 Second Leg, and it is very important for the market to have this kind of confidence injected.
#贵金属巨震 #币安10亿美元增持BTC计划
