Phyrex
Phyrex|Jul 10, 2025 19:08
Today's homework is a bit headache, not because it's difficult to write, but because I can't get back to my friends' questions. I know everyone is asking what happened to make BTC continuously break new highs overnight. In fact, there is no real positive news today. In the morning, China admitted that it is still negotiating tariffs with the United States, and the talks have not collapsed yet. There is also no new news announced tonight. The ETF data will not be available until tomorrow, but looking at the trading volume data, it can be seen that although it has been breaking new highs in the past two days, there has not been any unexpected increase in trading volume, and even recently it has been at an average level. At least from the perspective of the market, there has not been a large-scale buying, so the main reason for the price increase is that there are too few people planning to sell. This data can be seen from the stock of exchanges that I have been fond of watching for the past year. The overall stock has been continuously declining, even now. This means that even though the price of BTC has broken through new highs, the stock of exchanges is still decreasing. This indicates that the new highs have not made investors have the idea of selling, but rather more BTC has been taken away from the exchange by investors, resulting in a decrease in selling volume and a slight increase in buying volume. The URPD data is out of the question today. After reaching a new high, it will need to be rearranged and the support positions will be sorted out tomorrow. However, overall, the current support is still very strong. Unless there is a systemic risk, the support levels should not be a problem.
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