6.8 BTC repeatedly rises and falls, has the bear market come to an end? Where is the peak?
From the data perspective of BTC, the performance is the same. In the last 24 hours, despite significant price fluctuations, BTC's turnover has actually decreased. Most investors are not very interested in price changes, and the main participants in turnover are still those who chased high prices earlier. Looking at the support, temporarily, $93,000 to $98,000 is very solid support. Although the accumulation at $100,000 to $105,000 is about to overtake, this part is still mainly composed of short-term investors, so it cannot yet be considered an effective support range.
Everyone knows what happened on Thursday. Under the situation of conflicts between the two sides, BTC almost fell below $100,000. Before looking at today’s data, I was even wondering if there would be a large-scale sell-off today. In fact, it did not occur. Although there was indeed a net outflow, the outflow amount was very limited and did not differ much from previous outflows. BlackRock, Fidelity, ARK, and Bitwise also only saw outflows in the three-digit range. Indeed, some investors felt panic, but such investors are still quite few, which also indicates that most investors are not very interested in such short-term price changes.
Friday's data is a bit interesting. Although yesterday's BTC data showed a net outflow, ETH continued to maintain a net inflow. Even the conflicts did not affect investors' interest in ETH investments. Saying this makes me a bit skeptical, but indeed, despite the drop yesterday, investors from BlackRock and Grayscale bought more than five digits of ETH in total. The selling side, Fidelity, did not sell more than five digits either, so the ETH spot ETF data is still showing a net inflow. However, this data is not much different from BTC. Although there is a distinction between net inflow and net outflow, in reality, it's just a small part and will hardly affect the spot price.
Operational Suggestions:
Short BTC at 105800-106300, target around 102000-98000. Stop loss at 107000.
Short ETH at 2520-2560, target around 2400-2300. Stop loss at 2600.
