Btc has risen, is it a rebound or real increase? The trend for the next week #加密市场反弹
What is the nature of this surge? From the price path, it resembles an "emotional repair rebound" after a leveraged massacre, rather than a "real start" of a trend reversal.
1. As of around noon today, the price of Bitcoin (BTC) is about $70,300, up about +8.4% in 24 hours, but down about 16.2% over 7 days and down about 22.7% over 30 days.
2. This week, the highest was around above 80k, and at one point dropped to around 60k. News and data indicate that this major drop was primarily caused by the concentrated liquidation of high-leverage long positions + panic selling, followed by strong buying at the 60k area, forming a V-shaped recovery.
3. The total market capitalization over 7 days is still about -15.6%, and the fear and greed index is at 8 / 100 (extreme fear), which is a typical environment of "having dropped too much, short-term panic has overreacted, rational funds and buy-the-dip orders are entering the market, causing prices to bounce back somewhat."
What is the nature of this surge? From the price path, it resembles an "emotional repair rebound" after a leveraged massacre, rather than a "real start" of a trend reversal.
1. As of around noon today, the price of Bitcoin (BTC) is about $70,300, up about +8.4% in 24 hours, but down about 16.2% over 7 days and down about 22.7% over 30 days.
2. This week, the highest was around above 80k, and at one point dropped to around 60k. News and data indicate that this major drop was primarily caused by the concentrated liquidation of high-leverage long positions + panic selling, followed by strong buying at the 60k area, forming a V-shaped recovery.
3. The total market capitalization over 7 days is still about -15.6%, and the fear and greed index is at 8 / 100 (extreme fear), which is a typical environment of "having dropped too much, short-term panic has overreacted, rational funds and buy-the-dip orders are entering the market, causing prices to bounce back somewhat."