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⏳Bitcoin has shown an upward price trend recently, influenced by mixed sentiment and whale movements, yet facing macroeconomic uncertainties. 🪬
1. Technical rebound: Recent technical indicators show a bullish MACD crossover and RSI rebound from oversold conditions.
2. Whale activity: Reports of mega whale accumulation and positive ETF flows suggest renewed institutional interest.
3. Macroeconomic concerns: Global liquidity issues and high market leverage pose significant risks to Bitcoin's stability.
1. Technical rebound: BTC's RSI6 has significantly rebounded from deeply oversold levels (32.40 to 62.98) in the last 24 hours, coupled with a bullish MACD crossover, suggesting a potential shortterm upward trend.
2. Whale accumulation: A mega whale reportedly bought $1 billion in Bitcoin, indicating smart money is accumulating during the dip, and ETF net flows turned positive on Friday.
3. Market sentiment shift: The Greed & Fear Index turning bullish and increasing odds of potential rate cuts are leading some Bitcoiners to call a bottom, hinting at renewed positive sentiment.
Trade Risks Management 🚧
1. Macroeconomic headwinds: Japan's exploding bond yields and global liquidity repositioning are seen as a "macro earthquake" that could significantly impact Bitcoin, as previously observed.
2. Significant outflows: Recent money flow data shows a substantial total outflow of over $51 million, with large transactions contributing significantly to this negative flow, indicating selling pressure.
3. High leverage & liquidations: The market experienced $329 million in liquidations, with long positions being hit hardest, suggesting high leverage remains a risk and could lead to further price declines.
Community Sentiment 🎯
1. Mixed outlook: Community discussions reflect a mixed sentiment, with some posts predicting further corrections towards $86,000, while others foresee a "real bottom" forming and a massive move toward $92,000+.
{spot}(BTCUSDT)