A brief look at Monday's #Bitcoin trend and data: ETF data has not yet been updated, but the mainstream crypto fund USDC market cap has decreased by another 200 million, indicating a slight net outflow.
Returning to the market, Monday's decline put pressure again on the 4-hour MA200 trendline. Although it temporarily stabilized and rebounded, the rebound was noticeably weak. Considering the net outflow of crypto funds, it is clear that the current rebound cannot be 100% confirmed as effective support; it looks more like a technical rebound under cautious market observation.
Therefore, in the absence of #BTC ETF data for now, caution is still advised. Although the ETF saw some inflow last Friday, the magnitude was low and the inflow was weak. This week, the macro environment is under dual pressure from energy and high yields. The upcoming breakthrough will still depend on CPI data as a turning point.
Additionally, if the risk market cannot escape the unfavorable environment of high oil prices and high long-term bond yields, under financial liquidity tightening, funds may be more inclined to buy strong earnings US stocks. BTC, lacking a core narrative driver, may underperform US stocks in the near term.
Of course, the overall trend remains optimistic. If it really breaks below the 4-hour MA200 and continues to pull back, I believe that will present a good opportunity to enter. The next market rally will mark the start of another trend! #Institutions continue to position, so why does BTC still face pressure?
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