sachi2023-12-12

Crypto market trend is still uptrend.

An indicator of the strength of the trend against the price is displayed in the background of the price. The indicator indicates that the daily trend has not yet broken, although there has been a sharp drop in prices. Looking back at the driving forces behind the recent price movements, The Funding Rate was at a relatively low level (data not shown here) when physical buying (increase in coin base premiums) led to a sharp increase in OI by large BITMEX customers through market purchases, causing short-covering and a rise to 44K. The large BITMEX customers soon took profits, and when the Coinbase Premium declined and the profit-taking progressed, the FR rose to nearly 0.02, and longs liquidated, leading to the current situation. Now, one of the interesting, but unnoticed, points is that FUND VOLUME exceeded the 200,000,000 threshold that the author has designated, even during yesterday's sharp selloff. As long as the FUND is buying up bitcoin, even if a time adjustment progresses, the market environment is unlikely to lead to a major decline because the FUND may support the purchase.