$BTC Has the upward trend reached its peak, or is it just the buildup before a new round of explosion?
From the intraday news perspective, there hasn't been any major positive or negative news that can directly change the market landscape. However, the market's sensitivity to macroeconomic data and regulatory policies remains very high. Some rumors regarding the Federal Reserve's monetary policy can cause fluctuations in market sentiment.
In terms of moving averages, EMA5 and EMA20 are intertwined, indicating that the strength of both bulls and bears is relatively stuck in the short term. Indicators suggest that the market is in a relatively balanced state, but slightly tilted towards the sellers.
Personally, I believe that the current oscillation of BTC is the market digesting previous gains and waiting for new catalysts. Although there is a lack of clear upward momentum in the short term, there are also no signs of a significant downturn.
In the future, if there is major positive news, such as more traditional financial institutions announcing their entry into the crypto market, or significant easing of regulatory policies, then BTC is likely to break through the current oscillation range and start a new upward trend.
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