The pancake has undergone a correction this time. There won't be any major moves in the next few days, mainly focusing on finding the bottom. Currently, it hasn't stabilized, so don't go long, as there isn't enough capital to buy the dip. The market is more inclined to decline 📉, shorting at highs for $Wif, $Bonk, and other meme-type coins.
Reasons are as follows:
1: The probability of the Federal Reserve lowering interest rates by 25 basis points in June is 5.6%. Not lowering interest rates will lead to daily adjustments.
2: Super big player James Wynn has opened a 40x short position on $Btc with a holding of 112 million USD, opening price at 107,214, liquidation price at 130,540 USD, dancing with institutions and market makers.
3: Bitcoin has fallen below 106,000 USD, the cumulative long position liquidation intensity on mainstream CEX will reach 1.122 billion. If Bitcoin breaks above 108,000 USD, the cumulative short position liquidation intensity on mainstream CEX will reach 664 million.
3: The 160 million USD worth of Sui will be unlocked on June 1st, shorting at highs.
