The Truth Behind BTC's Violent Surge!
In the early session, it surged violently by 6% directly! This wave of main forces is too ferocious! Look at this five-minute candlestick chart, with six consecutive large bullish candles pushing the price above 110,800, and the MA7 moving average being pulled up directly; this is something ordinary retail investors can’t do! It’s definitely top institutions playing hard to lock in positions and push up!
Latest data shows that Coinbase's trading volume in the early session increased by over 25% compared to yesterday, and Wall Street institutions are continuously increasing their BTC holdings through the spot ETF channel. On-chain data has detected that the Grayscale GBTC premium rate has rebounded to -12%, indicating active arbitrage activities among institutions. The current global crypto asset management scale has reached $380 billion, an increase of 12% from last month, with institutional funds still being the main driving force! The MACD double line has confirmed a golden cross above water, RSI has been bluntly high at 82, and trading volume has expanded threefold compared to the previous day; this kind of short squeeze situation is rare in a decade!
Focus on two key indicators: First, the Chicago Mercantile Exchange's Bitcoin futures open interest has increased by 18,000 contracts, with the long-to-short ratio breaking 2.3:1; second, Binance's premium rate remains at a high of 1.5%, reflecting strong following sentiment in the Asian market. If the ETF premium turns negative after the US stock market opens, be wary of short-term profit-taking pressure, but the current open interest has surged by 40% compared to last week; the bulls’ ammunition has not yet hit the bottom!
Short-term support has moved up to the psychological level of 110,000. If it retraces without breaking this level, continue to be bullish, with the first target hitting the historical concentration area of 112,500. Pay attention to real-time liquidity changes in exchanges; if there are large sell orders of more than 5,000 coins, consider taking partial profits. This wave of market clearly shows that Wall Street institutions and whale funds are jointly controlling the market, and retail investors should closely follow the movements of the main forces!
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