$BTC rebounded to around 98000, and again many people are turning bullish, with many expecting new highs. If the rebound exceeds 100000, those who anticipated a slow bull market may return. But it's strange that at the end of last December, when I was bullish about January this year on the forum, saying there would be a rebound rally, the vast majority of comments below were overwhelmingly bearish. Now that the rebound has reached my projected target of around 98000, why are people suddenly overwhelmingly bullish again? Now I understand: when prices were low, many people were hesitant to enter, most were out of the market, so naturally they were bearish. Over the past two days, #BTC has risen to around 98000, and many have been convinced by the surge, rushing in with #FOMO , most now fully invested, so naturally they are turning bullish. It turns out that many people's views in the market are determined by their position—out of the market, even at low prices, they remain bearish; fully invested, even at high prices, they become bullish.
The biggest difference in the crypto market these past days is that the Nasdaq is retracing, while the crypto market is surging, creating a stark contrast. Therefore, from a macro perspective, I can't agree with such analysis—it seems more like a short-term liquidation of short positions.
BTC
88,238.07
+1.37%