BTC breaks below 108,000 USDT, 24-hour decline of 0.98%
Here are a few points of my conclusion
1. Short-term technical correction: BTC breaking below 108,000 USDT is a normal consolidation after recent highs, and the 0.98% decline has not significantly deviated from the fluctuation range. We need to observe whether it can maintain key support levels (such as 105,000 USDT) in the follow-up.
2. Market sentiment is cautious: The trading volume in the last 24 hours has not significantly increased, indicating that selling pressure is concentrated on short-term profits, and both bulls and bears have not yet formed a trend consensus. We need to be cautious of increased volatility caused by insufficient liquidity.
3. Macroeconomic factors at play: The US dollar index, the performance of US tech stocks, and the expectations around Federal Reserve policy remain key variables. If risk assets are under pressure overall, BTC may face further downward pressure.
4. On-chain data reference: We need to consider indicators such as net inflows to exchanges and miner selling volume to judge the direction of funds. If large transfers (such as over 1,000 BTC) continue to increase, it may indicate a continuation of short-term adjustments.
5. Long-term logic remains unchanged: Institutional holdings (such as ETF inflows), halving cycles, and network effects still support BTC's medium- to long-term value. The current price fluctuations have not changed its narrative as digital gold.
$BTC
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