The weekend is wrapping up, and BTC has been so sluggish today it’s making me sleepy 😴
I checked a little after 7 tonight,
and it was around $77,900,
up about 0.6% on the day.
Over the past 24 hours, it’s been drifting within a narrow range of $77,300 to $78,200—a swing of less than $1,000.
The Fear Index is at 34, still in fear territory.
Compared with the rest of the week, it really feels like someone hit pause:
the Binance incident, the FBI identifying the mastermind, withdrawals restarting in batches—
any one of those would normally be enough to rattle the market,
but come the weekend, prices have gone quiet instead.
My take is:
this narrow-range grind doesn’t mean there’s no direction;
the market is waiting on two things on Monday.
First, will ETF inflows pick up again?
Second, what will the proof of reserves on November 3 actually look like?
Until we have those answers,
neither the bulls nor the bears wants to show their hand first.
That’s what makes bottoming out so exhausting:
it doesn’t fall all the way, but it doesn’t bounce either.
People with big positions count every wiggle,
while those on the sidelines worry they’ll miss out.
It’s uncomfortable on both sides.
So I’m mostly sitting tight this weekend.
Frequent trades in a narrow range
are probably just putting money into the exchange’s pocket in fees.
A question for you:
With this kind of grinding weekend market,
would you stay put and wait for a signal,
or slowly build a position while volatility is low?
When the market opens on Monday, which signal will you look at first?
$BTC $ETH #市场观察 #Bitcoin
This is not investment advice. DYOR. Trading involves risk.
I checked a little after 7 tonight,
and it was around $77,900,
up about 0.6% on the day.
Over the past 24 hours, it’s been drifting within a narrow range of $77,300 to $78,200—a swing of less than $1,000.
The Fear Index is at 34, still in fear territory.
Compared with the rest of the week, it really feels like someone hit pause:
the Binance incident, the FBI identifying the mastermind, withdrawals restarting in batches—
any one of those would normally be enough to rattle the market,
but come the weekend, prices have gone quiet instead.
My take is:
this narrow-range grind doesn’t mean there’s no direction;
the market is waiting on two things on Monday.
First, will ETF inflows pick up again?
Second, what will the proof of reserves on November 3 actually look like?
Until we have those answers,
neither the bulls nor the bears wants to show their hand first.
That’s what makes bottoming out so exhausting:
it doesn’t fall all the way, but it doesn’t bounce either.
People with big positions count every wiggle,
while those on the sidelines worry they’ll miss out.
It’s uncomfortable on both sides.
So I’m mostly sitting tight this weekend.
Frequent trades in a narrow range
are probably just putting money into the exchange’s pocket in fees.
A question for you:
With this kind of grinding weekend market,
would you stay put and wait for a signal,
or slowly build a position while volatility is low?
When the market opens on Monday, which signal will you look at first?
$BTC $ETH #市场观察 #Bitcoin
This is not investment advice. DYOR. Trading involves risk.