Is that dull knife of the downward oscillation about to cut to the bone?
$BTC Last night, a heavy blow smashed through 72k, currently sitting at $71210. Watching the volume spike to 50 billion, and comparing it to the confident 82k back in mid-May, this nearly 10% decline this month has really shaken a lot of people's faith.
But I actually think this isn't a bad thing. In the later stages of a cycle, chronic bleeding is what really squeezes out high leverage and panic traders. The current volume feels more like smart money looking for liquidity on the downside. The market is recalibrating expectations, cleaning itself up, making it lighter.
However, let’s throw some cold water on this: it's fine to hold spot, but jumping into high-leverage contracts during these sharp price spikes is just fueling the exchanges.
Markets always grow in a state of half-belief. Do you think the psychological barrier at $70k will hold? Let’s discuss your script in the comments.
$BTC Last night, a heavy blow smashed through 72k, currently sitting at $71210. Watching the volume spike to 50 billion, and comparing it to the confident 82k back in mid-May, this nearly 10% decline this month has really shaken a lot of people's faith.
But I actually think this isn't a bad thing. In the later stages of a cycle, chronic bleeding is what really squeezes out high leverage and panic traders. The current volume feels more like smart money looking for liquidity on the downside. The market is recalibrating expectations, cleaning itself up, making it lighter.
However, let’s throw some cold water on this: it's fine to hold spot, but jumping into high-leverage contracts during these sharp price spikes is just fueling the exchanges.
Markets always grow in a state of half-belief. Do you think the psychological barrier at $70k will hold? Let’s discuss your script in the comments.