Four years ago today, the China Internet Finance Association and two other institutions issued a warning about the risks of virtual currencies, leading to a liquidation of 6.9 billion dollars on that day. Now, time has passed, and although the policy hammer is gone, the scalpel of the manipulators is much sharper than it was back then.
Take a look at the current market: Bitcoin's weekly chart has reached an all-time high, and the percentage of addresses holding over 1000 BTC has plummeted from 15.5% to 8.2% within a week, indicating that the manipulators are pulling back while pushing up the price.
Ethereum's performance is significantly weaker than Bitcoin's, and altcoins are collectively playing dead. This market feels like a constipated patient squatting in the restroom, holding back a big move! It could either surge explosively or collapse into the pockets. However, it seems that before the manipulators completely withdraw, they will still pump it above 110,000 to create a façade.
So, brothers, if you want to avoid being cannon fodder, don’t trust esoteric indicators; golden crosses and death crosses are just aphrodisiacs used by manipulators to create FOMO. Remember those influencers who shouted "ETH will reach 10,000 dollars by the end of last year"? Now the grass on their graves is two meters high.
