Analysis

Currently, the price of Bitcoin is around $83,500. Overall, the market sentiment is quite conflicted. From a weekly perspective, last week closed with a "spinning top" candlestick, indicating that both bulls and bears are at a stalemate at low levels, with neither side able to gain a clear advantage. On the daily chart, yesterday's small bearish candle combined with low trading volume clearly shows a decline in market activity, as everyone is waiting for a more definitive direction.

From a macro perspective, last week the U.S. spot Bitcoin ETF saw an outflow of $829.9 million, and the long-short ratio has also decreased, reflecting a cautious attitude in the market. The upcoming Federal Reserve meeting on March 20 is a key point; if they truly pause tapering, the market may welcome a short-term bullish trend, and a recovery in liquidity might drive prices up. However, on the other hand, changes in inflation expectations also pose a significant risk. If the market starts to worry again about uncontrolled inflation and the Federal Reserve maintains a tough stance, the market may come under pressure again.

My opinion: Currently, Bitcoin is in a phase of consolidation. In the short term, policy news will be crucial in influencing market direction. If the Federal Reserve releases positive signals, Bitcoin may experience a corrective rally; but if the stance is hawkish, the market may continue to fluctuate weakly. The key now is to patiently wait, avoiding the urge to chase highs or panic sell; in terms of contracts, just stick to the strategy.

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