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Today's Bitcoin and U.S. stocks are both in a soft state, waiting for a rebound opportunity.
The current financial market is permeated with the main theme of 'consolidation', with Bitcoin$BTC and U.S. stocks both caught in a directionless stalemate.
Bitcoin experienced a dramatic drop from 86,000 to 60,000 at the beginning of the month, then rebounded strongly back to 70,000. Currently, it is trading in a range of 67,000 to 71,000. This is not merely a price stagnation, but rather a period of pain for market deleveraging: futures funding rates remain low, and although there have been sporadic buying activities since over $3 billion exited ETFs in January, institutions are no longer chasing higher prices, adopting a cautious stance of 'bullish but not buying' to price risks. On the technical front, the weekly RSI has fallen to an extreme oversold level of 15.9, a ten-year low, and historical experience suggests there is resilience at the lower levels, but it can only be seen as a corrective rebound until it stabilizes above 72,000.
Bitcoin experienced a dramatic drop from 86,000 to 60,000 at the beginning of the month, then rebounded strongly back to 70,000. Currently, it is trading in a range of 67,000 to 71,000. This is not merely a price stagnation, but rather a period of pain for market deleveraging: futures funding rates remain low, and although there have been sporadic buying activities since over $3 billion exited ETFs in January, institutions are no longer chasing higher prices, adopting a cautious stance of 'bullish but not buying' to price risks. On the technical front, the weekly RSI has fallen to an extreme oversold level of 15.9, a ten-year low, and historical experience suggests there is resilience at the lower levels, but it can only be seen as a corrective rebound until it stabilizes above 72,000.
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BTC
65,933.24
-2.38%