Today I saw many brothers saying "🐮 is back," so Beichen wants to share a personal view.
First of all, I personally think the bull is not back yet, and the reason is simple. This wave of rise is actually a rebound after bad news has settled. Previously, midterm election results, crypto regulatory expectations, Binance security incidents, and other negative factors continuously impacted the market. $BTC once dropped to around 75,000, and $ETH also followed with a significant pullback.
After the market releases concentrated panic, selling pressure naturally eases. Moreover, yesterday, the Bitcoin spot ETF saw a renewed inflow of about $74.6 million, ending three consecutive days of net outflows. A large number of shorts were liquidated, and short covering further amplified the upward momentum.
A short-term rebound is possible, but it's still too early to call the bull 🐮 back. Currently, the outlook remains bearish. In the next article, Beichen will discuss short strategies for Bitcoin and Ethereum!
#非农在即，就业数据能否强化12月加息预期？
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