When Bitcoin hovered around $109,000, signs of withdrawal from Asian funds began to emerge. This is already the second occurrence of a similar situation this year — in May, when Bitcoin was at $105,000, Asian funds had already exited early, and subsequently, American funds stepped in, pushing the price to a high of $111,000.
Initially, many believed that Asian funds were too 'cautious' in their operations, but that may not be the case. Their operational logic is clear and coherent: cashing in early when the market rises and decisively entering during market corrections, achieving a balance between risk and reward through this 'anticipatory' layout.
The current focus of the market is whether such a capital relay script can be played out again. If American funds can continue to flow in like they did in May, stepping in after Asian funds withdraw, Bitcoin is likely to welcome another rising trend.
Whether Bitcoin can continue to ride the waves and break the current price range depends critically on the direction of American funds.