Two days in advance, I told you, (nuclear-level short squeeze! Bitcoin 90k → 100k violently squeezed! The meme coin KAITO skyrocketed 1500% overnight! Shorts begging 'don't kill me'!) BTC aims to spike at 97k to lure in, and the chart showed a drop to 91, which happened today.
Extreme volatility, breaking downwards. Yesterday, when I discussed the bearish logic of this trend internally, the price was also at 96,000, those who got in yesterday should have made a profit of 3000-5000 points. BTC's current turnover rate is still very low, and the main participants in the turnover are still short-term investors. Speaking of which, I suddenly noticed that recently there have been fewer comments saying BTC is a dog fund harvesting retail investors, which can be considered a kind of progress.
From the support perspective, although BTC's price continues to oscillate downwards, the support level between 93,000 and 98,000 USD is still very solid, at least there are no signs of it breaking yet, which also indicates that more investors are not feeling much about the short-term price changes. (Short-term betting on a rebound, we'll see how the subsequent trend goes this week.)
The market is now in need of a spike; after the spike, the coin price will retract, completing the weekly head pattern, meaning the bull market is still ongoing. Right now, I see it going up to 103k; the big cycle for BTC hasn’t changed, as shown in the diagram below.
There are various opinions on this drop; some say it's due to the U.S. stock market crashing, some say it's because the bill didn’t pass, and others say it's due to the panic after Bybit. Recently, ETFs are also in a state of shrinking outflows; in fact, this is a period of changing trends, and the final direction just chose downwards. But this is also an opportunity; the overall trend of the US dollar index is still downward, and BTC has realized a price significantly higher than its coin price. Simply put, bearish in the short term, bullish in the long term, waiting for a dip.
Today, the Bybit hacker has washed away 89,500 ETH ($224M) in the past two and a half days, which is 18% of his total stolen ETH (499,000 ETH). If this frequency continues, the hacker could exchange the remaining 410,000 ETH for other assets (BTC/DAI, etc.) in another half month.
Currently, hackers are mainly exchanging cross-chain assets through THORChain.
Is the reason for today's big drop because SBF has come out?
What do you think the first thing the explosive head will do if he comes out? Maybe issue a celebrity coin to celebrate? Can Sol reverse the trend? Furthermore, could it be that after Sol's meme dies down, the next hype will be around SBF's narrative?
People are starting to miss SBF. During the last bull market, this guy was shouting for Sol to bring in the bull market, and there was also a DK who created bubbles. Luna is history; this round of the bull market feels really constrained. These two people, when the bear market came, went in... leaving these old leaders to harvest retail investors. At least during the last bull market, it was crazy with retail investors following along; this round of the bull market currently feels constrained.
Today I noticed the fear index has reached the fear range; if I recall correctly, this is the first time this sentiment has been reached in this round of the market. I checked, and indeed since coming out of the bear market in 2024, it has only been two days in the fear sentiment. The last time was early August last year during Japan's interest rate hike crash; I didn’t expect the current market sentiment to collapse to the same level as that time.
At the end of the article, I want to share something new from an internal community group—the Bitcoin network. The shares I mentioned last night have already multiplied six times! I currently bought 2.
Dragon One: odindog is currently at 5.3M, when I mentioned it last night it was 1.4M, more than three times, I feel this position is not high in market value yet, the hype is slowly building.
Dragon Two: odincat is currently at 1M, when I mentioned it last night it was 300k, more than three times.
Everything is just beginning, we must be brave to embrace new things, it's still very early, and the hype hasn't really picked up yet, let's go for it a hundred times.
Many fans do not know or are unsure how to speculate, so I am providing the ODIN.FUN graphic operation tutorial. Don't be afraid of trouble; you should try it out. It’s still quite early, and it’s a small bet for a big return. Even if you lose later, it won’t be regrettable, but if the hype picks up, it could lead to big profits. I have always set my stop loss based on profit. Like BGB, I bought in at 1U with a cost of 10,000, and sold at 7U. Now I am in the second wave, and the pressure will be much smaller; little pressure equals no pressure.
