There have been quite a few recent events,
Here’s a brief overview,
The Federal Reserve cut interest rates by 25 basis points, which is pretty much what I expected
Bitcoin has surged to a high of 76900, but it feels like it can't fly any higher; I think it will consolidate for a bit or there might be a small pullback
Trump's situation hasn't been resolved yet, and Bitcoin has already risen to 73000.
As soon as the news of his victory came out, Bitcoin shot straight up to 76000.
Actually, at this time, many people thought Bitcoin was about to enter a bull mode,
But the market is lacking money, and the rise isn't very strong.
Those who like to play nice and harmonious, their losses are truly tragic
From 66800 to 76900, they were basically all harvested clean.
Now I estimate that most have turned bullish, and the market has become quite lively
But now is the time to be even more cautious
I just took a quick look at the on-chain data; when Bitcoin hit 76900, shorts were liquidated by about 1 billion.
But if Bitcoin pulls back to 71000, the bulls could be liquidated by 3 billion.
Will institutions take the opportunity to eat up these chips?
Remember back at the end of October, Bitcoin also surged to previous highs and then suddenly dropped by 5000, harvesting a wave of bulls.
Then there was negative news released, saying Harris's votes would exceed Trump's, resulting in another wave of shorts being tricked in.
In fact, this is all part of institutions' strategy to harvest the chips from the contract market.
Simply put, for a rise, there needs to be money to buy; for a fall, just sell the chips in hand or let the data crash.
The market is still lacking money; funds have all gone to ETFs.
For a significant rise, there are still certain difficulties; to put it bluntly, it still relies on a massive increase in money printing
