The overall events of the past few days and people’s panic
On Monday, the gaming industry received shocking news that An and its CEO Changpeng Zhao "CZ" were sued by the Securities and Exchange Commission (SEC) of Country M. The SEC announced a second lawsuit against Coinbase on Tuesday and asked a federal court later in the day to grant a temporary restraining order to freeze assets related to Coinbase, but the market, led by Big Pie, shrugged off the SEC's enforcement. There was a rebound due to the action, including ARB ALPHA KAVA that I follow
So what could be the reason for the unexpected rebound?
My analysis is that due to the waterfall in the early hours of yesterday morning, many people were increasing their bargain hunting. Just after everyone gave up on this direction, the big V Tianlong appeared. Avoiding mainstream hype is a typical method that reverse players can use. It is not clear at present. Is the stage a dead cat reversal, or is it a sign of resilience that the market is not intimidated by the current situation?
