Will #BTC再创新高 soar to new heights or face a deep correction? On-chain data doesn't lie; don't be misled by the false information in the market, because data doesn't deceive!
Recently, Bitcoin and other mainstream cryptocurrencies have been taking turns in the spotlight. After all, we are in a bull market where traditional capital and national teams are entering the scene, and retail investors are certainly joining in the fun—there's no reason for prices not to rise. As rational traders, we must remain vigilant and not believe the chaotic voices in the market. Trust on-chain data and believe in your own decisions.
In previous articles, I mentioned that behind every financial market, there are manipulators. In the past, Bitcoin had a small market cap and no manipulators, which led to myths of sudden wealth with several hundred thousand times increases. Nowadays, with traditional capital and national teams entering, Bitcoin can only serve as a relatively good trading asset, and the chances of sudden wealth will become increasingly smaller. However, it is still better than other financial assets.
The following liquidation chart illustrates that for manipulators, whether the market rises or falls is clear. Any significant rise or fall will see the majority of funds liquidated on the opposing side. Currently, the long-short liquidation ratio is about 3:1, making it suitable for a significant downturn for liquidation; it just depends on when it will arrive.
Currently, Bitcoin has broken above the resistance level of 120,000. Whether it can hold above this level will depend on the market over the next couple of days. Once it stabilizes, the possibility of continuing to reach new highs is significant, and of course, it also presents an opportunity to short at high points. If it falls back to 120,000, it will likely face a significant downturn for the long positions; otherwise, the difficulty of rising will be too high—there's no way to soar without harvesting.
The market is crazy; this is when the manipulators take up their sickles to harvest. What you need to do is follow the trend and prepare in advance. $BTC $ETH $SOL
