Analysis: If there is a lack of sustained positive support, it cannot be ruled out that BTC may experience a short-term correction
Deribit's Head of Asia Pacific Business, Lin Chen, posted on X stating: "Recently, it has been in a state of extreme greed for five consecutive days, with the greed index reaching 90 at its peak. The current market FOMO sentiment is beginning to cool down, and the market purchasing power is gradually declining. At the same time, there are signs of net outflows from BTC ETFs.
However, liquidity tends to be insufficient over the weekend so we need to pay attention to the trend of U.S. stocks opening tonight. Currently BTC is fluctuating around 90 thousand; if there is a lack of sustained positive support, we cannot rule out the possibility of a short-term correction."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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