$BTC Early morning BTC played the "loom" in a narrow range of 87500-88000.
The 5-minute K-line is more stable than an ECG, with both bulls and bears showing their cards. Last night's Federal Reserve meeting minutes released dovish signals, directly cooling interest rate hike expectations. This should have been a celebration for risk assets, but Bitcoin is oddly trading sideways with reduced volume—hitting a high of 88000 briefly before being smashed back down, and after a low spike to 86973, it was immediately pulled back, with a volatility of less than 0.16% and trading volume dropping below the 10k mark. This market is making people yawn.
Key point competition: 87500 is the bulls' lifeline.
Market data speaks: Order volume surged around 87500, and on-chain chip distribution shows this is a concentrated trading area in the past three days. If the bears dump here, buy orders will immediately pile up like a city wall. In contrast, above 88000, there’s a mountain of trapped positions from April last year; without a volume explosion at the 30k level, there's no way to break out. Right now, this market is like a tug-of-war; whichever side loses strength first will be dragged down.
Whale activity raises alarms—beware of a trap in the market.
On-chain alerts haven't stopped—addresses in the top 100 ranked by size have net transferred out over 2000+ BTC in the past 24 hours, with some chips flowing to exchanges. These big players usually play dead, but their movements are always a precursor to something happening. Coupled with the CME Bitcoin futures gap still hanging at 84500, it’s possible that the whales are eagerly waiting to strike a blow to the bulls.
At this moment in the market, you either wait for a bullish confirmation or sit back and watch. Remember, bull markets can have sharp drops, but as long as the trend isn’t broken, don’t get thrown off the train!
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