The one that’s rising the most isn’t necessarily the safest moment on the board. Mining companies and the $BTC wealth treasury company saw a huge single-day jump—looks like risk appetite has returned across the board. But I’m focused on something else: $BTC spot is at 78660, up 5.07% over 24 hours, while contract trading volume is 9.9 times the spot volume. This suggests the chase is mostly happening in derivatives, not in the spot market.
This kind of rebound will transmit even more aggressively to US-listed crypto stocks. Stocks have amplified beta, and miners and treasury companies have always been easier to push around with sentiment than the coin price itself. So it’s not strange to see Canaan, MARA, Strive, and Metaplanet surge together. The real thing to distinguish here is whether this is the start of a new uptrend, or a repricing driven by expectations of liquidity.
The US Treasury has expanded the scale of long-term Treasury repo operations. What the market is trading first is the idea that “money will loosen a bit,” not that “the fundamentals suddenly changed.”
I didn’t chase too much. Above 78600, I only left 2% of my existing long position. I set take-profit at 79480—if it doesn’t get there, I’ll close. For a new position, I place a short order around 79800, with a stop-loss at 80350 and a target at 77600. The reason is simple: the funding rate is only +0.0100%, not overheated. But open contract positions have already reached 106,045 BTC. If the price fails to break above the 79500 high, the positions chased in above will start stepping on each other.
This is the type of market that most easily makes people mistake “stock price volatility” for “confirmation of the coin price.” I don’t make that equation. I’ll treat it as turnover around the highs first. $BTC #Bitcoin
The market can flip faster than a book. Keep some dry powder.
This kind of rebound will transmit even more aggressively to US-listed crypto stocks. Stocks have amplified beta, and miners and treasury companies have always been easier to push around with sentiment than the coin price itself. So it’s not strange to see Canaan, MARA, Strive, and Metaplanet surge together. The real thing to distinguish here is whether this is the start of a new uptrend, or a repricing driven by expectations of liquidity.
The US Treasury has expanded the scale of long-term Treasury repo operations. What the market is trading first is the idea that “money will loosen a bit,” not that “the fundamentals suddenly changed.”
I didn’t chase too much. Above 78600, I only left 2% of my existing long position. I set take-profit at 79480—if it doesn’t get there, I’ll close. For a new position, I place a short order around 79800, with a stop-loss at 80350 and a target at 77600. The reason is simple: the funding rate is only +0.0100%, not overheated. But open contract positions have already reached 106,045 BTC. If the price fails to break above the 79500 high, the positions chased in above will start stepping on each other.
This is the type of market that most easily makes people mistake “stock price volatility” for “confirmation of the coin price.” I don’t make that equation. I’ll treat it as turnover around the highs first. $BTC #Bitcoin
The market can flip faster than a book. Keep some dry powder.