"Was I too greedy?" Bitcoin fails to break $70,000, then trades weakly

BTC, record of 170 billion won in long betting liquidation in the futures market
BTC touches $66,000...altcoins also fall weakly
The market slowly rises on the back of low-price buying in the afternoon
Experts advise "Wait for the announcement of US corporate earnings"

On the 22nd, BTC fell due to the liquidation of the surge (long) betting positions that poured out in the overnight futures market.

When BTC broke through $69,000 on the 21st, there was a lot of public opinion among investors expecting BTC to break through $70,000. With high expectations, when BTC failed to break through $70,000, the long betting position liquidation that occurred on the 21st recorded about $123 million (about 169.97 billion won).

Based on the large-scale long betting liquidation that occurred in the futures market, as BTC plummeted, additional selling pressure continued, and BTC fell to $66,000. With the decline in BTC, altcoins also weakly declined, giving up all the gains they had made on the 21st.

However, from the afternoon, low-price buying pressure flowed in, and the entire cryptocurrency market, including BTC, began to show a gradual upward trend.

◇BTC = As of 4 pm on the 22nd based on Upbit, the price of BTC is 926.9 million won. BTC dominance was 58.38%.

With BTC's rally coming to a halt and declining, experts expressed a somewhat cautious view on BTC's future outlook.

Cryptocurrency trading company Vincent analyzed that "the announcement of quarterly earnings of US companies could put pressure on investors' risk appetite" and "due to the strong correlation with the US stock market, cryptocurrencies could be negatively affected."

He also mentioned that "considering the recent continued upward trend of BTC and the week of US earnings announcements, this week is likely to be a risk-averse week."

◇Rising Coins = As of 4 pm on the 22nd based on Upbit, the cryptocurrency that recorded the largest increase compared to the previous trading day was Uniswap (UNI), which rose about 18%.

Uniswap is a decentralized cryptocurrency exchange (DEX) that provides automated liquidity supply.

The Uniswap token (UNI) is licensed under the General Public License (GPL) and is used as the governance token for the Uniswap exchange. Users can secure ownership of Uniswap community assets, the Protocol Fee Switch, and other utilities, and in the process, remove the need for a trusted intermediary and unnecessary forms of rental extraction, enabling fast and efficient trading.

◇Fear and Greed Index = The Cryptocurrency Fear and Greed Index provided by Alternative is 70 points, entering the 'Greed' stage. The Greed stage is a period when price volatility and trading volume are high, and prices are rising. There is a high possibility of forming a short-term peak, so caution is required when selling.