ARK Wood's fund's reduction of Coinbase shares is worth noting, because every time Wood's rhythm of buying at the bottom and selling at the top is quite beautiful. Historical data shows that her success rate is very high. As for her increase in GBTC, she actually saw the entry of Wall Street funds. GBTC will gradually equalize the negative premium, and some previous data show that Wood is buying a lot of GBTC. So after this round of premium comes up, Wood's revenue should be very, very high, yes, so this must be a relatively good indicator in trading.
The impact of the first Bitcoin leveraged ETF on the market
Another thing about the launch of Bitcoin leveraged futures is that it will increase the volatility of Bitcoin, but it is not a spot ETF after all. So it is not very helpful for the long-term rise of Bitcoin, but will increase some short-term volatility.
Today's market hotspot---WAVES
In addition, the surge in the past two days is because there are rebel forces in Russia, after Putin's speech characterized the rebellion. The Belarusian president participated in the mediation, and in the end, the rebel forces were actually a hype of a hot event. So in trading, we will pay attention to some major local trends and the increase in market enthusiasm, such as Matic in India, and there are many good projects in South Korea and Japan. So in trading, we should have some habitual hot thinking.
Today's market analysis
Finally, let's analyze the market. From the perspective of the risk index, the risk index has increased from 20 in the early stage to 64 today, which has reached the extreme greed index. As for Bitcoin, it has also experienced a wave of market growth and reached a high point of 31,500. We can see that Wood reduced her holdings first, and then BlackRock applied for an ETF. However, it is not expected to be passed within the year, and there may be the last interest rate hike in July. Therefore, we all believe that under the expected positive effect of Wall Street funds entering the market in the early stage, if there is no substantial positive effect, the risk has reached a high point in the short term.
Synchronizing the on-chain data, we can also see that the on-chain chips have loosened recently, and in this round of rise, we can see that other altcoins have followed very few, so we are more inclined to believe that this is an off-market positive stimulus to boost the concentration of on-market funds and realize the positive stimulus of Bitcoin ETF application.
From a technical perspective, Bitcoin's four-hour and daily lines have the possibility of a top divergence, so in the short term, we do not recommend chasing high prices in terms of risk. And since it is just a game of funds on the market, at this stage, we prefer everyone to gradually lock in profits and wait for the technical level to fall back between 28,000 and 29,000. Then consider the opportunity to enter the market again and strictly control the position.
