The moment I see Bitcoin returning to 84200, I always feel like it’s about to break up 🤔🤔
Bitcoin has recently been ranging around 82500 to 84400.
Based on Glassnode data, there’s a large amount of long-term holder supply in the 84000 to 85000 range.
The “whales” need extremely strong momentum to break above this level, but trading volume has been sluggish. In the past, they could keep driving it up by repeatedly squeezing short sellers, but now the shorts have mostly been squeezed out too.
So this is a time of extreme boredom: for the price to rise, it needs positive catalysts and additional inflow support; for it to fall, it needs negative news.
So everyone is probably waiting for the data on Wednesday and Friday—this is currently the lead-up to a turning point.
Going forward, do you think the market outlook is bullish or bearish? (single choice)
1. Why so much talk? This is the starting point of the bull market
2. The next phase is a weak rebound plus a slow grind down; macro policy and the high U.S. interest rates don’t support a bull market arriving
3. This is just a correction during an uptrend—eventually it will still go higher
4. I firmly believe the real hunt hasn’t arrived yet—keep waiting for the great waterfall
5. Stay neutral and observe a bit longer to see: $0G $CELO $CRV #Bitget黑客盗资转移被拒退回 #日本FSA支持第四例稳定币贸易结算试点
Bitcoin has recently been ranging around 82500 to 84400.
Based on Glassnode data, there’s a large amount of long-term holder supply in the 84000 to 85000 range.
The “whales” need extremely strong momentum to break above this level, but trading volume has been sluggish. In the past, they could keep driving it up by repeatedly squeezing short sellers, but now the shorts have mostly been squeezed out too.
So this is a time of extreme boredom: for the price to rise, it needs positive catalysts and additional inflow support; for it to fall, it needs negative news.
So everyone is probably waiting for the data on Wednesday and Friday—this is currently the lead-up to a turning point.
Going forward, do you think the market outlook is bullish or bearish? (single choice)
1. Why so much talk? This is the starting point of the bull market
2. The next phase is a weak rebound plus a slow grind down; macro policy and the high U.S. interest rates don’t support a bull market arriving
3. This is just a correction during an uptrend—eventually it will still go higher
4. I firmly believe the real hunt hasn’t arrived yet—keep waiting for the great waterfall
5. Stay neutral and observe a bit longer to see: $0G $CELO $CRV #Bitget黑客盗资转移被拒退回 #日本FSA支持第四例稳定币贸易结算试点
