🦃 Wall Street "early exit", is a liquidity black hole emerging in the crypto market?
While Americans are busy carving turkeys, for us Web3 natives still glued to the screens, today may be a deceptively "hunting moment".
Black Friday, the US stock market exchanges NYSE and NASDAQ will close early at 1 PM EST (2 AM Beijing time on Saturday). This means that the spot ETF channels (like IBIT, FBTC) that typically provide hundreds of millions of dollars in buying support for BTC every day will be in a "disruption" state for most of the trading day.
Historical data shows that trading depth in the crypto market usually plummets by 30%-40% during Thanksgiving.
Assuming you are the market maker, when would you choose to make a move? After all, what normally requires 1000 BTC to break through the support level may only take 100 today to smash it to pieces. The current candlestick chart looks more like a few remaining speculators who didn't go on vacation are "drawing charts". This upward push under low liquidity is often a false signal of short covering; and a sharp drop may be to deceive panic sellers.
So, don't treat today's volatility as a trend.
Before Wall Street wakes up from its Monday hangover, any breakout or breakdown is likely to be an invalid signal. The current market is like a self-driving luxury car; if anyone slightly nudges the steering wheel, the car will sway violently, but it hasn't really gone anywhere.
👇 So, the soul-searching question arises:
In this "vacuum weekend" without ETF support, will you choose to sit on the sidelines and watch, or do you think this is a good opportunity to buy the dip?
