I have to say that Musk is too idealistic. The argument between Trump and Musk is likely to replicate the result of last month's fight, and this time it might be more severe. Trump has even referenced the previous incident in South Africa and suggested that DOGE should check Musk. Cryptocurrency has once again entered an unexpected disaster, but I personally believe that although the outcome may be similar, this time the impact might not be as significant as last time, especially since there’s a relatively high probability of the beautiful bill passing.
On Monday, as BTC prices fluctuated, the number of investors in the spot ETF decreased. Apart from BlackRock's investors who still maintain a four-digit net buy, all other institutional data can be ignored. Although there is still a net outflow, the buying volume, which was already low, has decreased even further.
In the last 24 hours, a total of 105,128 people were liquidated globally, with a total liquidation amount of $268 million. The largest single liquidation occurred on Bybit-BTCUSD worth $2.6164 million.
Looking at the data chart, we can see that long positions have incurred greater losses over a longer period. The market may be undergoing a downward adjustment recently. A high liquidation volume of long positions often indicates a price drop after excessive optimism in the short term. A high liquidation volume of short positions in a short time may mean a quick rebound opportunity.
A few days ago, Ethereum performed slightly stronger than Bitcoin, mainly because it hadn't really rebounded before, making it seem more resilient. However, as long as Bitcoin continues to fall, it will definitely be dragged down as well. So there's no need to rush; wait until Bitcoin truly breaks down, and no matter how hard Ethereum tries to hold on, it will also be pulled down. From a technical perspective, the 4-hour level shows a high-level oscillation pattern, with the MACD double line flat above the zero axis and the RSI hovering around 50, indicating intense long-short battles. Key resistance to watch is the 106800-107200 range, while support below is at the psychological level of 105000 and the previous low of 104200.
[6 Major Laws of the Crypto Circle | Understanding this is worth more than learning ten types of techniques]:
1. Fast rises and slow falls = aggressive accumulation during rapid increases and slow declines, indicating that large funds are secretly buying. Don't fear the drops; watch the rhythm.
2. Fast drops and slow rises = urgent selling followed by weak rebounds, indicating that the operators are fleeing. Don't be greedy for cheap prices; be careful to avoid becoming the bag holder.
3. Volume at the top = possible continuation of the rise; no volume at the top = it's time to escape. Volume determines direction; only with volume is there a chance; no volume means it’s the end of the line.
4. Volume at the bottom should not be impulsive; continuous volume is safe. A single volume spike may be a bait; multiple volume spikes indicate consensus formation.
5. Trading cryptocurrencies is about trading emotions; consensus determines direction. Forget about the complex structures of candlestick charts and return to market psychology; volume is the mirror of consensus.
6. 'Nothing' equals everything without obsession, greed, or fear; only then is there a true win rate. Those who can hold cash and wait for opportunities deserve to have major market trends.
The last point: the only enemy in trading is yourself. The data from Beautiful Country, the mandatory announcements, and the main force’s pull are merely the surface; the real variable is the fluctuation in your mind.
