Postaus

BTC is now a bit like being stuck on the last big question in an exam. The multiple-choice questions at the beginning were completed with the help of a ghostwriter. Now, it's finally the turn of the person who actually has to pay to write the answer. After BTC surged to $80,000 and then fell back, I actually feel that the most awkward situation now is not with the bulls, but rather that the "driving force" behind this rally is suddenly about to change hands. The previous market trend is actually quite easy to understand. A large-scale short squeeze pushed BTC higher and higher, and many people who had bet on its decline ended up becoming the most active buyers. It sounds a bit surreal: the group that was the most pessimistic about BTC ended up driving its price up to $80,000. But the problem is that a short squeeze cannot be a perpetual cycle. Once the short positions are mostly covered, if the price continues to rise, you can't always rely on "shorts continuing to contribute buying power." So now it's time for the second phase: who will prove that the $80,000 is not a last-minute sprint? Recently, ETF funds have started flowing back in, indicating that there are still buyers outside the market, and at least this rally isn't solely driven by short sellers pushing themselves into a corner. However, the closer prices get to the highs, the more likely it is for those who bought at lower levels to start cashing out. What's really at stake now is a contest between new buyers and sellers at high prices—whose patience will ultimately prevail. Coincidentally, on August 28th, approximately $6.4 billion worth of BTC options were set to expire, making the battle around the $75,000 to $80,000 range even more intense. #BTC surges and then retreats, options expiration amplifies the battle at key levels $BTC$BTC $ETH