As the market's enthusiasm for spot Bitcoin exchange-traded funds (ETFs) cools down, the price of Bitcoin has fallen by more than 10% from its record high. JPMorgan strategists have warned that there is further room for the price to drop.
From Monday to Wednesday, a total of $742 million flowed out of 10 spot Bitcoin ETFs, marking the largest three-day net outflow since their launch on January 11. Meanwhile, the world's largest cryptocurrency saw one of its worst weekly performances of the year after a 4% price drop. As of 06:57 Singapore time on Friday, the token's trading price was $65,415.
Based on the current market trend, the price of Bitcoin, as well as other mainstream currencies including Ethereum, is expected to continue on a downward trend. Without significant positive signals, the price is likely to fluctuate downward. The author believes that the bull market has come to an end and advises against blindly buying the dip, especially for those operating in the spot market. Instead, consider trading Bitcoin and Ethereum contracts, which is still a good choice! As shown in the figure, the short positions laid out by the author earlier this week have all yielded profits, which is quite satisfactory!
The current market volatility is still significant, so it's important for our trading friends to plan their operations reasonably. The key point lies in how to control positions effectively and manage risks. In such a volatile market, failure to cut losses will likely lead to a blowout, even if you manage to escape nine times out of ten. Therefore, it's crucial to always set a stop-loss, which is of utmost importance. After controlling the risks, then seek profits! Leave the rest to the teacher and grasp the entry and exit points as instructed! Leave professional matters to professionals. If your trading performance is not ideal and you want to trade with me, remember to find Xiao Shen Shuo Bi!
Xiao Shen's Message:
Congratulations once again to friends who followed my layout. Bitcoin has perfectly gained 2000 points. Xiao Shen has been providing professional contract and spot guidance for many years and has a certain insight into market analysis. Tailored solutions for position control and fund management are available. If your trading performance is not ideal and you want to trade with me, remember to contact Xiao Shen Shuo Bi.
Below is Xiao Shen's daily sharing of real-time market analysis and layout!
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