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Many people attribute the surge of Bitcoin from 70,000 to 110,000 to the "election frenzy" brought about by the US election. But now, this wave of election market has been gradually digested, and the market may return to the previous "ETF support" area, which is between 70,000 and 60,000. You can understand it this way: more than 100,000 is the emotional premium of the election, while 70,000 to 60,000 is the hard-core support of ETFs, because most people who buy ETFs are long-term holders and are unlikely to move positions easily.
However, if the market continues to be quiet, these ETF holders may lose patience because of waiting too long and move their funds to other assets, such as gold or Hong Kong stocks that have performed well recently. If this happens, ETF support may not be able to hold up, and the market will further decline.
Therefore, in addition to watching the market, we must also pay close attention to changes in the macro market, especially the flow of ETF funds. After all, the market has never been explained clearly by a single logic. Multiple factors are intertwined to determine the final direction. #比特币价格走势分析