The tide goes out and it turns out I was swimming naked?
The market has been stuck at 11.92 for a whole day without breaking. The US stock market opened in a selling state. In the end, someone has to pick up the tab for this feast. Yesterday's PPI shattered the dreams of many who were hoping for new highs.
Especially for ETH, which was just $76 away from its new high, less than a 2% increase, and that dream was crushed. In just one day, 119 million contracts were liquidated, with the bulls standing at 74.91 million. Tonight is the last trading day of the week for US stocks, and if there isn't a clear upward movement, then Saturday and Sunday will likely see a downward trend, especially with retail investors in altcoins running away.
The market always needs someone to pick up the tab, but I didn't expect it to be me 🤡🤡
$BTC is currently fluctuating around 119,000. If it doesn't break through this level, it is very likely to dip down before continuing to rise to fill the CME gap below.
Watch the 120,000 level above and the 116,500 level below. Retail investors can't push BTC's price up; only when funds flow back from ETH will we see a significant rise. We're just 3.2% away from the previous high.
BTC ETF saw outflows last night, but the market absorbed it all. Only when the tide goes out do we know who has been swimming naked.
39.56K
3
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.