Currently, Bitcoin is really not pushed up by buying pressure.
Has Bitcoin reached a new high again recently?
You think many people are buying? Actually, that's not the case.
The truth is: chips are locked up, and no one is willing to sell.
To put it simply: the spot on exchanges is getting less and less. Those who should sell have already sold out. The ones still holding are really unwilling to move. If you ask them to sell, they might find you annoying.
The more you guess the top, the more it rises.
This market means: 'You think it should drop,' and it just continues to rise.
Don't forget, it rose from 70,000 to 100,000 since last October. You said it should correct, but it just doesn't. There hasn’t even been a proper adjustment, at most it dipped to 88666, and then went straight up.
This wave of movement looks like a replica of that previous wave.
The big trend is charging forward; it hasn't even started accelerating yet. If you short now, isn't that going against the trend?
A correction is not a peak; it’s a washout.
Currently, Bitcoin is in a typical 'healthy rise' stage.
Occasional fluctuations and pullbacks are meant to make you get off, not to reverse, but to clear out floating positions.
Without systemic risk, how can there be a crash? It's hard. Looking at the exchange data, withdrawals are increasing, and circulating coins are becoming less.
This means: Bitcoin is becoming 'scarce.' Do you want to buy? There may not even be anyone willing to sell to you.
The weekend movement is quite interesting.
Here's another interesting discovery: Recently, the weekend movements have been quite strange. Treat the time from 8 AM to 6 PM as the 'Asian market'.
When you look at the 'U.S. market' at night, you'll find: → Asian market pushes up, U.S. market sells off. → Binance buys, Coinbase sells. Isn't this a classic replay from 2023? Some smart money has already entered, and the chips that were sold off are likely being 'quietly picked up.'
This week is not over yet; there is still heavy data to come.
CPI, PPI, retail sales — all are on the schedule.
Especially with CPI, market expectations are already quite poor. If the data disappoints, it might directly ruin the interest rate cut expectations for September.
But this is not the end; July and August still have 'life-saving data' to come, which will likely bring sentiment back.
One last reminder: be careful with altcoins.
Bitcoin has no problems; the structure is very stable. But altcoins rely on two things: sentiment + liquidity.
Now both of them are not around; if there's a correction, altcoins will crash first, while Bitcoin remains the backbone.
Final suggestion: It's better to go with the trend than to guess the top.
Currently, we are still in the middle of a bullish trend, with stable technical structure and clear form. Don't always think, 'Is this the top?' Unless it later surges to the weekly overbought line of 134431, but momentum doesn't keep up, then it might be a top.
Otherwise, as long as it doesn't drop below 102394, the logic of a bull market is still intact, and the trend remains upwards.
The market does not operate on imagination; predicting up or down on the left side is gambling, while going with the trend on the right side is real skill.
