BTC bull market returning??? Stop dreaming!!!!
On October 26, rumors say McRib is back!!!
There is an interesting correlation circulating in the crypto community: every time McRib returns, Bitcoin often experiences a significant surge. Many crypto community members jokingly urge investors not to short the McRib trend.
First, let's look at the fundamentals of BTC and ETH:
$BTC has been consolidating for over two months, fluctuating between 78,000 and 87,000. Currently, it is trending downward, hitting a bottom at 79,168 before rebounding, but still drifting downwards in a weak consolidation.
It keeps testing new lows + rebounds that don't surpass previous highs, but each bottom is lower than the last!!!
$ETH is similar, consolidating sideways between 2,300 and 2,800 for over two months from August 18 to the end of October. Currently, it is also drifting downward with lower lows and lower highs. However, compared to BTC, ETH's 24-hour trading volume remains consistently higher, liquidity is better, and retail participation is greater!
Summary: The current macro environment is that BTC and ETH are under pressure, with escalating US-Iran geopolitical tensions, rising crude oil prices, persistently high US Treasury yields, and increasing expectations of Federal Reserve rate hikes.
Given these fundamentals, don't expect a reversal for BTC and ETH.
It's a very simple strategy: once the pump ends, it's time to short! #BTC现货ETF资金反复，市场买盘能否企稳？
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