A friend who has been helping the Hong Kong financial regulatory agency write application documents revealed that the Hong Kong Bitcoin ETF is on the way. It was thought that the process would still be very distant, but during the Qingming Festival, the news spread during the Hong Kong WEB3 Carnival.

Although the Hong Kong government has not yet formally approved the Bitcoin spot ETF, its advertisements are already seen everywhere in Hong Kong. According to news on April 8th, Huaxia Fund and Southern Dongying are applying for a Bitcoin spot ETF, and the applications for related funds may land in the second quarter of this year. Regarding the active layout of Bitcoin business by the Hong Kong subsidiaries of public funds, some institutional personnel believe that this move will help expand the advantages of alternative investments and may become an advantage for the Hong Kong subsidiaries of public funds to obtain alternative investments through Bitcoin business.

Overview of the latest Bitcoin ETF

In addition, many private enterprises have also purchased Bitcoin through other means. For example, a Japanese company, Metaplanet (TYO:3350), announced yesterday that, in the case of a weak yen, Metaplanet will invest up to $1 billion in Bitcoin. This funding was raised from the ninth round of stock purchase rights. Influenced by this news, the price opened high today, indicating market recognition of the company's investment in BTC and confidence in BTC's future price increase.

Looking at the trend of the past week, Bitcoin finally overcame the interference of the Federal Reserve's remarks and embarked on a relatively independent trend, leaving other risk asset markets behind. On April 10th, the Federal Reserve announced the core CPI data for March, with a previous value of 3.8, a forecast value of 3.7, and an actual value of 3.8. Treasury yields surged, and emerging market stock market returns decreased. The swap market shows that the possibility of a rate cut by the Federal Reserve in June has decreased, and non-dollar currencies have collectively plummeted. In comparison, BTC rebounded more strongly after the pullback, immediately regaining lost ground after creating a "pit." Such consolidation will be conducive to accumulating bullish momentum and preparing for a direct breakthrough of the previous high of 73794.

The recent consolidation has been a bit deceiving, always breaking through some key resistance levels during short-term consolidation. Many friends cannot bear the psychological pressure of stop-loss and cutting losses, and thus have feelings of regret:

Knowing more is not as good as "going long in a bull market." Novices who do not understand market rules and regulations blindly make purchases, hoping for a seaside villa, while those who seem knowledgeable have become the "leeks." This is because not understanding the rules means not abiding by them, and not falling into the traps set by the market. The rules are the "law," the framework established by vested interests to secure their power. Traders who follow the rules can only serve as fuel for those who set the rules.

There are two ways to break through: one is to "not follow the rules." Traders need to establish a logic system that goes beyond the established rules, such as doing things contrary to the routines, i.e., making trades contrary to your previous losses. Of course, there are many details to be resolved, but in theory, you have already stood on the opposite side of the majority of losers and will no longer lose money for common reasons.

The second is the application of "the Way." The only weapon individuals have to overcome the "law" with their meager strength is "the Way." "Go long in a bull market, go short in a bear market" is the way of investment and trading. Let the market toss and turn, let the main players draw lines up and down, let the news flood the market, you just need to recognize whether the market volume is increasing or decreasing. Without accepting formal investment education or falling into the logic of the masses, not following the rules back and forth, sticking to going long in a bull market, you can beat the teacher with random punches.

Charts speak for themselves. Let the Federal Reserve release all the smoke bombs, I will hold my coins steady, isn't it just a delay in rate cuts? It's not like it's Naruto's Rasengan, as long as the market volume is still trending upwards, as long as the market value of Bitcoin is not enough to fulfill its mission as a tool, the market has only one direction.

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