Happy Labor Day! Wishing everyone a day without labor! May you all achieve financial freedom! The A-share market was closed for 5 days during the May Day holiday, leading to a capital inflow into the crypto and a rebound. The main reason BTC isn't falling is that it's currently being supported by the strong US stock market, and there are too many short sellers with negative funding rates for 50 consecutive days. Market makers won't let most people profit; they'll only let a few. The lack of a significant breakout above 77900 in the last 4 hours indicates weakness on the bulls' side. If the US stock market pulls back, and liquidity is withdrawn from the crypto due to the June World Cup, then the crypto will fall very rapidly. 77.5K is the best short point in the short term. Once leverage in the market starts shifting from short liquidation to long liquidation, the market will begin a rapid decline, giving no chance for a rebound to recover losses.
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