Why is the cryptocurrency market so quiet this year?
Because there are no newcomers, and the players in the market have basically gone through a complete cycle of bull and bear markets, so it is very quiet.
Another point is that currently, Bitcoin has been highly controlled by Wall Street, and both the Asian and European markets are basically stagnant in the first half. Volatility still depends on the Nasdaq CFD, and any decent market movements basically occur after the U.S. stock market opens.
The current situation in the cryptocurrency market is somewhat like a battle for pricing power, mainly centered around the 'Understanding King' exchange.
Bitcoin is a currency, so Wall Street, led by BlackRock (ibit), is buying it up crazily. Ethereum operates on a staking model, where people are just holding it for interest, while the manipulators are aggressively selling off, leading to very low participation from retail investors in this process.
When retail investor sentiment has little impact on Bitcoin and Ethereum price movements, they naturally feel that the cryptocurrency market is very quiet.
However, from the perspective of institutional investors, it's extremely exciting. The price seems to have little change, but the existing funds are almost being drained by them.
The last bull market was highly correlated with the U.S. stock market.
The next bull market, which is about to begin, is expected to be highly tied to the U.S. stock market as well? Let's wait and see together.点击进群