MSCI is reviewing Strategy’s index eligibility, as it added another 267 BTC
$BTC Current price: $81,346 (24h: -1.51%)
Strategy added another 267 BTC today, but the price is still languishing around 81,345.
Institutions are buying, but the market isn’t following suit. That kind of disconnect in sentiment is worth unpacking.
Funding rates are still positive, but longs are barely putting any money down;
open interest hasn’t built up either, with both bulls and bears waiting on the sidelines.
The Strategy news becomes clearer when you break it down: it bought 267 BTC, while MSCI is reviewing its index eligibility.
The former is routine buying; the latter is the uncertainty hanging over the market. Until there’s a decision, investors would rather stay cautious.
Over on ONDO, the two timeframes are at odds, and some are warning to watch out for a liquidity sweep. That naturally makes traders more reluctant to chase.
Above, the people who got caught out around 83120 a couple of days ago are waiting to break even. If the price gets there and nobody steps in to buy, the rally is still on shaky ground;
below, 80637 is the low from the past couple of days. If the price drops there, we’ll see whether anyone is willing to buy in earnest. Volatility has already narrowed considerably, and volume is shrinking too. This kind of market wears you down.
I think the price is more likely to test the 80637 area first. Until it gets above 83120 and holds, don’t read too much into any bounce.
#BTC #币圈日常 #盘面观察
$BTC Current price: $81,346 (24h: -1.51%)
Strategy added another 267 BTC today, but the price is still languishing around 81,345.
Institutions are buying, but the market isn’t following suit. That kind of disconnect in sentiment is worth unpacking.
Funding rates are still positive, but longs are barely putting any money down;
open interest hasn’t built up either, with both bulls and bears waiting on the sidelines.
The Strategy news becomes clearer when you break it down: it bought 267 BTC, while MSCI is reviewing its index eligibility.
The former is routine buying; the latter is the uncertainty hanging over the market. Until there’s a decision, investors would rather stay cautious.
Over on ONDO, the two timeframes are at odds, and some are warning to watch out for a liquidity sweep. That naturally makes traders more reluctant to chase.
Above, the people who got caught out around 83120 a couple of days ago are waiting to break even. If the price gets there and nobody steps in to buy, the rally is still on shaky ground;
below, 80637 is the low from the past couple of days. If the price drops there, we’ll see whether anyone is willing to buy in earnest. Volatility has already narrowed considerably, and volume is shrinking too. This kind of market wears you down.
I think the price is more likely to test the 80637 area first. Until it gets above 83120 and holds, don’t read too much into any bounce.
#BTC #币圈日常 #盘面观察
