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Analyst: Bitcoin market warning, high leverage triggers a drop in volume

Analyst: Bitcoin market warning, high leverage triggers a drop in volume

Bitget2024/11/01 04:44

According to Crypto Hunter on X, after the author reminded investors not to be blindly optimistic in yesterday's market analysis, the Bitcoin (BTC) market quickly showed a trend of sharp decline. The current daily chart has formed a dusk star pattern, which is a typical top reversal signal. From the perspective of coin-based holdings, Bitcoin's holdings have not significantly decreased and the market leverage is still at a high level. The market currently lacks positive signals and it is not advisable to rush to buy at low prices. Effective market turning signals include significant improvements in macro liquidity, significant reductions in leverage rates, and noticeable weakening of sell orders.

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