FIL has long been a classic chronic bear, down over 99.5%! This isn't just a short-term correction; it's a structural issue that's been dragging on.
With a total supply of nearly 2 billion and around 780 million in circulation (only about 40%), the continuous unlocking of tokens + miner rewards is putting immense dilution pressure. The growth in use cases is far outpaced by the influx of new coins, naturally putting pressure on the price.
Over the years, FIL has transformed from a top narrative project into one of the representatives of 'dead coins'. At the slightest market disturbance, it's easily sold off, and when risk appetite shifts, it falls even harder.
That's why I've always been bearish on this market, with a conviction to see it below 1.
#BTC Bitcoin dip-buying funds are already in action! Can this wave still surge?
Brothers, the Bitcoin chart is really interesting right now: while the U.S. stocks dropped in the early hours, Bitcoin just won’t fall. Instead, huge amounts of capital are quietly picking up at lower prices.
This is a very positive signal—the market is voting with its feet.
Bitcoin can still rise, and there’s plenty of opportunity! For the short term, keep an eye on two key resistance levels: 61,000 and 62,700. Especially around 62,700, you could consider taking profit on part of your spot holdings first, or even placing a light short order to try to catch a move.
As long as the U.S. stocks don’t keep dragging things down, I believe BTC could consolidate and rebound over the next few weeks toward the 67,000 neckline area—room for upside is still quite significant.
Overall, the structure remains bullish. If it can’t drop, that’s the best support.
Luckily after going up, I managed to knock it down. Licked it once and ran.
Didn’t dare to take any more, worried it would ramp back up again. Ran off first—then I’ll see where it is and go in for another round.
东哥的小圈子
·
--
#Velvet This market opportunity, I’ll place a high-level short order around 1.2.
The current price is already in a late-stage high zone; there are plenty of profit-taking orders, and in the short term the upside momentum is struggling.
If there’s a pullback, I’ll put a high-level short; the risk is controllable—it's a relatively comfortable way to play the odds.
#Velvet This market opportunity, I’ll place a high-level short order around 1.2.
The current price is already in a late-stage high zone; there are plenty of profit-taking orders, and in the short term the upside momentum is struggling.
If there’s a pullback, I’ll put a high-level short; the risk is controllable—it's a relatively comfortable way to play the odds.