Disaster! The Bitcoin market is undergoing a dramatic change! The MenTouGou transfer stirs the market, increasing the risk of price drops

Recently, the market has been in turmoil, with Bitcoin prices soaring to 100,000 and subsequently experiencing several price drops, leading to a pervasive bearish sentiment. The latest movements from the MenTouGou account have once again stirred the market. Here is an in-depth analysis of the current situation and operational strategies:

MenTouGou Transfer: A Test or the Calm Before the Storm?

According to on-chain data, the MenTouGou account has recently transferred out over 2,600 Bitcoins again. Although the amount is not large, historical data indicates they often first test market sentiment with small transactions before proceeding with large-scale sell-offs. If history repeats itself this time, the market may face greater selling pressure, with the risk of price dropping to 93,000 or even lower increasing.

Analysis of Influencing Factors:

Microsoft Shareholder Meeting Bitcoin Investment Proposal Rejected

The market had high hopes for this proposal, but it ultimately did not pass, leading to further downward pressure on market sentiment.

Market Sentiment Continues to Decline

Without significant positive news to drive the market, the bearish trend is unlikely to ease. The strong support level at 90,000 has become the last psychological defense line for the market.

Short-term Strategy for Bitcoin: Seize Opportunities in Range Fluctuations

Operational Strategy:

Short-term Positioning: If the Bitcoin price retraces to the 93,000 to 92,000 range, consider trying to enter long positions, with a stop-loss set below 90,000 and a target set at 100,000. Timely Profit-taking: If the price approaches 100,000, it is advised to decisively take profits to avoid the risk of further declines.

Risk Warning:

The current market environment is quite complex, and volatility is significantly affected by news, so it is recommended to control positions and set strict stop-loss levels.

Outlook for Future Trends: Consolidation or Continuation Until the Next Rate Cut

The expectation of a rate cut by the Federal Reserve is a potential positive factor for the market, but it is unlikely to materialize in the short term. Before the rate cut, Bitcoin may continue to maintain a consolidation trend, and investors need to be patient while paying attention to market dynamics.

Focus on strategies and wealth codes; opportunities lie within volatility!

Despite increased market volatility, opportunities often arise in times of crisis. Whether you are a short-term trader or a long-term investor, you need to keep a close eye on key support and resistance levels in the market and flexibly adjust your strategies.

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