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The US stock market is about to open. Will Bitcoin go up or down today?
Brothers, the US stock market is about to open. Bitcoin surged to around 70k. In Lao Lei’s view, the current rebound has no substantial capital support, ETF net outflows continue, whales are distributing at highs, and the market appears strong on the surface but weak in reality. The Fed's rate hike expectations remain, inflation repeatedly suppresses risk assets, and with the FOMC approaching, the US stock market opening is likely to trigger a sharp drop in the crypto market.
Lao Lei believes this rebound is just a shorting opportunity. After the US stock market opens, selling pressure will likely be released quickly, with a rapid pullback to 68,000, and if support breaks, it could head straight below 67,000. Remember to hold your hands, avoid chasing sharp moves, focus on high positions, and follow the trend.