According to the latest news, the U.S. SEC will decide this week whether to approve the BTC spot ETF listing application. The impact of this event is far greater than the expected interest rate hike in July. The direct reason for the rebound from the bottom on June 15 is the BTC spot ETF applied for by BlackRock. The rise was driven by emotions, not the impact of incremental funds, so this event will directly affect whether Bitcoin will continue to reach a new level or return to its original shape.

Regarding BlackRock's application for a BTC spot ETF, Yiming has expressed his views many times. The probability of approval is relatively high, but the probability of the SEC directly approving it this weekend is very small. Traditional finance has to solve many issues to enter the crypto market, including taxation, compliance, supervision, fund custody, investor protection and other issues. It is a bit unrealistic to complete the review in such a short time, so this incident is very likely to be the fuse that triggered the short-selling.

As for why we judge that the rebound is about to end and the market is entering a correction trend, the SEC review is just the fuse, and more of it is caused by cyclical factors:

1: The current monthly line level is still in the bear market cycle, and the trend determines everything.

2: The Federal Reserve’s interest rate hikes are still ongoing, market funds are tightening, and the liquidity crisis has resulted in no incremental funds entering.

3: The rise driven by emotions will definitely lead to a market crash due to emotional disappointment.

Yesterday, I shared with my fans a high-win-rate gameplay using AI analysis in an article. Friends who used it made a profit on the same day. In such a bleak market, it should be a blessing to have such a profit.

The bigger the wind and waves, the more expensive the fish. Although Typhoon No. 4 "Tali" has just left, a new round of typhoons is quietly approaching this market. Are you ready?