Market conditions change rapidly, trading is all about the present moment, singing whatever song fits the mountain you're on. The current price of Bitcoin is around 88,000, and it once dipped to below 84,000 today. Did anyone take a long position at this lower level? Why is Bitcoin experiencing a price correction now? The good news is that Trump has announced that the U.S. national reserve Bitcoin bill executive order has passed and will be implemented. There's also news that Trump is only using 88,000 confiscated Bitcoins as part of the storage plan, which isn’t a major positive. Not using taxpayer money to buy Bitcoin means that from the perspective of locked-up funds, the market indirectly reducing the supply of Bitcoin is also a positive. However, why is the price correcting? It is due to retail panic causing a sell-off. In the long run, as long as Trump passes this bill, many countries will likely follow the U.S. in implementing this strategic reserve, and more countries may use taxpayer money to purchase Bitcoin, leading to revolutionary changes in the market.#特朗普签署行政命令
#比特币走势分析 After rebounding from a lower level of over 70,000 and then coming back down, we can observe that Bitcoin's highs are continuously decreasing, but recently, there’s good news that its bottom is consistently rising, from over 70,000 to over 84,000 USD. If it continues to follow this trend without breaking through the bottom, we believe that this round of market activity will come soon, right? Many people don’t believe it. In fact, over the past month, from February to March, it has only been a month since Bitcoin has experienced long-term fluctuations that have worn down many people's confidence. Today, the fear index has risen to 34, indicating a slight increase compared to yesterday, showing that there is no panic regarding the entire market.
Currently, many cryptocurrencies are experiencing a correction, especially Ethereum, which has dropped back to over 2,100 USD. Ethereum has hardly risen in the past year and has actually fallen by 43%, while Bitcoin has increased by over 40% in the same period. Other cryptocurrencies have also seen slight increases over the past year. Many believe that a bear market has arrived, and indeed, there are many such claims. Currently, we do not see a continuous inflow of stablecoins, indicating a certain level of orders. Previously, during the upward trend, money was continuously printed, but this time the rise has encountered a bottleneck, and no new funds are being printed. If Bitcoin breaks through 95,000 again, we will certainly participate in this final wave of Bitcoin and altcoin increases. Currently, Ethereum has dropped as much as it can; if it breaks below the 2,000 USD level, we must give up on Ethereum. Additionally, Ethereum, Solana, and other cryptocurrencies are still being added to the U.S. strategic reserve. Regardless of how the market adjusts next, it will involve clearing contracts. In the next thirty days, the Bitcoin clearing chart still indicates a breakthrough of 100,000 USD, with a support level of around 84,700 USD in the next seven days. Today, there is no extreme fear in the market. I believe there will be a strong breakthrough next, and many altcoins have the potential to rise alongside mainstream cryptocurrencies, even though stablecoins are currently stagnant and there is no inflow into spot ETFs. However, we must patiently wait for the judgment announced tomorrow. That’s all for today.
