It must be acknowledged that in the entire spot market, the only continuous buying demand comes from the US session.
Basically, after the US market opens in the morning, there will be continuous buying of spot until 5 PM when the market closes.
After that, it is the futures market's turn to start competing.
Yesterday, the bulls were too aggressive, raising the rate to over 0.07%, and as a result, liquidation was inevitable.
To be honest, I feel that a pullback to 85000 only affects the futures market, while spot bulls seem to be unaffected.
It is important to note that in the past week, on every trading day, as long as the CB premium spikes, BTC can reach new highs.
Early today, BTC also slightly broke through 90,000, but there was no follow-up breakout, which indicates that the buying power of US investors in the spot market may have weakened.
After all, FOMO sentiment generally lasts about a week; to stimulate it again, it relies either on time (through volatility) or on space (with a large bullish candle) to brew again.
