Frequent good news continues to emerge, Bitcoin will maintain its upward momentum

Geopolitical conflicts are easing, and the FOMC is dovish. Will Bitcoin reach the 120k mark?

The one who tied the bell needs to untie it. Recently, market sentiment was once tense due to the Middle East conflict. After briefly touching the 110k mark, Bitcoin experienced a Waterloo, falling as much as 10.8% to below 100k before regaining buying support. Subsequently, with US intervention, the conflict was eased and suspended, and market sentiment completed a shift. At the same time, the FOMC released a dovish annual monetary policy report to the House of Representatives yesterday, and market sentiment achieved a comprehensive transformation from "panic" to "greed." Various indexes rose, and cryptocurrencies, led by Bitcoin, also rebounded strongly from the abyss, sweeping away the bearish haze. However, a more perplexing question for investors has emerged: Is it a reversal signal after the market bottomed out, or a new trap under a new round of bearishness? Then follow Li Mu's perspective to peel away the bullish and bearish signals under market volatility.

Here, I would like to emphasize the point: what floats under the appearance of financial games is the game between events and public opinion, and even more so, the competition between chips and human nature. In the past 24 hours, the bullish chips have become the bloodiest footnote of this massacre under the influence of macro events. The liquidation of long positions on the entire network reached 1.012 billion US dollars, with long positions alone accounting for 903 million US dollars. At the same time, after completing the liquidation, a new round of news was used to achieve a comprehensive reversal of the market, leaving only retail investors sighing at the sudden reversal of the market.

The FOMC is dovish, inflation has declined significantly, and the market is betting that the probability of a rate cut in July has increased. A new event marketing is coming again. Does this technique look familiar to everyone? But the facts prove that it is really easy to use. As the speech landed, the three major stock indexes rose in response, and cryptocurrencies followed closely to complete the second round of intraday surge. This completes the comprehensive conversion at the narrative level.

Looking back at the chips? Bullish positions have just been liquidated, short positions are still fantasizing, institutions have completed the T2 quarter's revenue, retail investors are slapping their thighs but dare not get on the bus, and the market has found a balance again in a joking atmosphere.

Combining the above information to delve deeper into the market, the hourly-level breakthrough and stabilization above the moving average is the best interpretation of the sentiment. Low-level holders can be more at ease, and new bullish opportunities are coming. However, the tug-of-war between bulls and bears is never accomplished overnight, so please be patient, hold on to your greed, and new gains will be given to solid crypto supporters as they are. #加密市场反弹