The turnover rate is still declining, but the main participants in the turnover are still primarily short-term loss investors. However, there is no substantial negative impact on the market direction.
In recent days, the main contract data has been decreasing, with no signs of a stop in the decline or an increase in holdings, indicating that no new funds are entering to buy. Therefore, whether the current position can hold is still a big question mark.
Additionally, as we mentioned before, James Wen has changed his address but is still bullish on Bitcoin. He is too high-profile, and the main players will definitely want to break him.
Currently, the market is still viewed as experiencing wide fluctuations, so I personally believe that it requires time for observation to buy the dip. Everyone can pay attention to whether there are main funds accumulating near 101k.
