The long sideways movement of Bitcoin has finally been broken, but it was not the expected upward breakout that led the way; rather, it was the US stock market showing fatigue under the resonance of multiple negative factors;
The stickiness of inflation exceeded expectations, the expectations for interest rate cuts have been further weakened, institutional investors concentrated on lowering target prices after the earnings reports of tech giants, and hedge funds quickly returned to net long positions in the derivatives market;
A series of signals are reminding us: risks are rising, blindly chasing the rise is no different from taking chestnuts from the fire;
Personal trading advice: For aggressive traders, consider entering short positions when rebounding to the two levels of 117200–117800, reserving space for replenishing at 118500, with targets at 115300, 113200, and if it breaks, look at 110800! $BTC