Who wouldn’t be confused looking at this position of mine? 😄😄
I closed it flat today at around 69,200, but it shows a closing price of 65,000.
Before closing, I was down over 6,000 U; after closing, I was up 1,774 U. 😮😮
The actual situation is that I was initially in profit on this position, and then I closed part of it, locking in $6,000 in profit.
The remaining portion of the position was then stuck at a loss. While it was underwater, I earned over $2,000 in funding fees, so although I closed it at a loss today,
After last night's CPI data came out, Bitcoin fell to a low of 72,691U 😮
Today it rebounded to a high of around 74,150U, but has since pulled back to around 73,700.
The 74,000 level used to be support; after breaking below it, it became resistance.
A rate hike in December is probably unavoidable. Some Fed officials are even calling for a return to 50 basis points.
Everyone needs to understand: with interest rates this high, hot money out there is even less inclined to come into crypto and play.
And look at Bitcoin now—it’s barely hanging on around 73,800U. It looks like it can’t fall any further, but don’t be fooled by this illusion.
For now, this is just a rebound, not a reversal. 74,000 has become resistance, and if Bitcoin can’t break above it and hold, it’ll head back down.
If it falls further and breaks below the 72,000 lifeline, this trend will be completely wrecked. Forget about a bull market returning.
Bitcoin has already fallen this far, yet Binance’s long/short ratio is still elevated at around 2.8, and the funding rate is still positive.
That means the bulls are still frantically buying the dip—and even paying funding fees to the shorts.
At a time like this, unless the market makers completely liquidate this batch of stubborn longs, it’ll be hard to get the price moving up 😄
ETFs have seen net outflows for several days in a row, and even BlackRock has pulled out tens of millions.
So don’t try to guess the bottom. The current market setup is simply: “The odds of winning are too low, neither side has much profit potential, and you could easily get wiped out by a wick in either direction.”
My strategy for now is to keep my existing core spot position and not add to it yet.
I’ll keep holding my underwater Bitcoin short positions for now, and close them when a good opportunity comes along. After all, I’m already close to breaking even.
When the market is completely desperate, the funding rate turns negative, and ETFs stop seeing outflows, I’ll get back in and pick up the bloodied chips.
If another bear market comes, will you still buy altcoins?
To be honest, looking at all these candlestick charts now,
I hardly dare to put a significant amount into any altcoin other than Bitcoin, Ethereum, BNB, and OKB.
I still remember when I first got into crypto. It really was “gold everywhere”—you could make money buying almost anything.
Back then, altcoins listed on major exchanges had project teams full of passion, traveling the world to “recharge people’s faith.”
You could feel there was a real team working behind the scenes. Holding the coins gave you peace of mind.
And now?
The old altcoins are stagnant, drifting steadily downward. If one rises a little, it’s usually a sign that the market is nearing its end.
The new altcoins are even more brutal. Getting listed on Binance used to be the starting point for growth; now, a Binance listing feels like the project team’s cue to dump their tokens.
When the crypto market was in its boom years, even pigs could fly. Whenever a trend took off, experts were everywhere.
But we have to admit it now: the era when you could buy altcoins with your eyes closed and get rich is well and truly over.
Liquidity has dried up, and the sharks are preying on one another. This is a time when your insight and judgment are truly being tested.
It has now bounced back to around 74500 and is trading sideways. The bounce has been fairly weak.
I feel this rebound is mostly due to some shorts taking profits and closing their positions.
Only after Bitcoin breaks back above 75000 and holds there can we talk about further upside.
Alternatively, we can wait for the cluster of long liquidations around 72600 below to be cleared, then see if the price finds support and stabilizes.
At the moment, 74000 is still an entirely unattractive level.
Also, according to the data, Binance’s long-to-short ratio by number of users has surged to 2.83. Retail traders are aggressively buying the dip, and major players usually won’t reverse the trend with this many longs on board.
Sitting on the sidelines is actually the right call. Unless resistance above is broken, the overall outlook remains weak.
The live contract position that was previously down 35,000 is now back up 30,000 bucks.
Once you’ve won, someone will rewrite history for you 🧐🧐
People are very pragmatic. Until yesterday, everyone was still mocking Teacher Aoying for going short.
Even though I’m holding a lot of U too, waiting for prices to fall,
I just don’t have the guts to call for a drop.
Because when the market is going up, you’ll be showered with insults and ridicule.
That’s also why I really admire the big KOLs.
They’re never afraid of being criticized. I’m not like that.
I have a bad temper. I can’t stand people insulting me.
Honestly, I’ve always thought Teacher Aoying’s trading has been impressive.
Just like I said today: everyone asks others why they don’t cut their losses when they’re stuck in a position, but when it happens to them, they just hold on stubbornly.
But Teacher Aoying really can cut losses in time. I’ve been watching him for a long time.
I can’t do that, though, so I’ve also decided that futures trading isn’t for me.
And the interesting thing about human nature is that yesterday, lots of people were mocking Teacher Aoying’s trades. But after last night’s plunge, by today everyone has found all sorts of angles to praise him 😄😄 $ETH $BTC $HYPE #美股一夜蒸发超2万亿,多家对冲基金面临清算 #韩国推迟加密货币征税至2029年 #韩国推迟加密货币征税至2029年