Most people are bearish, which isn't a great sign—it can lead to overcrowding in the shorting lane. I’m bearish too, but I don’t want my outlook to align with the majority.
I’ve noticed that recently on Twitter, there’s been very little chatter about hitting 85k, 90k, or even 100k. It turns out the VPNs in mainland China got shut down, making Twitter pretty quiet. I thought it was just the market shaking off some weak hands, but when I checked Weibo, folks were really complaining about the VPNs being blocked.
If the big players break through 80k and hold, that would be quite the charity move—there are a lot of trapped bags above that price range, which would mean the big players have bigger targets in sight. With ETFs seeing continuous net inflows and MicroStrategy buying up more, while the US stock market keeps hitting new highs, Bitcoin is still showing all sorts of divergences. If this were a bull market, we would’ve already taken off.
$BTC
I’ve noticed that recently on Twitter, there’s been very little chatter about hitting 85k, 90k, or even 100k. It turns out the VPNs in mainland China got shut down, making Twitter pretty quiet. I thought it was just the market shaking off some weak hands, but when I checked Weibo, folks were really complaining about the VPNs being blocked.
If the big players break through 80k and hold, that would be quite the charity move—there are a lot of trapped bags above that price range, which would mean the big players have bigger targets in sight. With ETFs seeing continuous net inflows and MicroStrategy buying up more, while the US stock market keeps hitting new highs, Bitcoin is still showing all sorts of divergences. If this were a bull market, we would’ve already taken off.
$BTC