Greeks.live: Most traders are focusing on BTC potentially dropping to the 78,000-81,000 USD range
Macro analyst Adam from Greeks.live released a Chinese community brief, stating that the market sentiment is leaning towards bearish, with most traders focusing on Bitcoin potentially dipping to the $78,000 to $81,000 range. Some members believe that Bitcoin will rebound, but most traders are cautious about short-term trends, especially after experiencing large-scale ETF outflows. Several traders have observed that there is currently a blank chip area lacking effective support and indicators show a net outflow of $757 million from the US spot Bitcoin ETF. The crypto market shows an unusual trend where the Bitcoin Dominance Index (BTCD) did not rise during its fall; altcoins performed relatively well indicating a different market structure than before.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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