🚨 Bitcoin returns to $70,800! Oil prices drop, does the market get excited?
Last night, oil prices plummeted, with WTI dropping nearly 2%. Bitcoin shot back from below $68,900 to $70,800, making the bulls' counterattack quite fast!🔥
Interestingly, ETH, XRP, and SOL did not keep up with the gains, all hovering within 1%.
A typical "vampire market"—Bitcoin rises alone while altcoins remain stagnant.
The macro situation remains complex: the Middle East situation is still tense, and the S&P 500 has also broken through key moving averages, indicating that large capital's risk appetite is declining.
At this time, the cryptocurrency market's ability to rebound against the trend is more of a short-term reaction to the drop in oil prices + expectations of policy intervention.
👉 To summarize:
It's good that Bitcoin stabilizes at $70,000, but if altcoins do not follow, one must be cautious about this rebound.
Next, keep a close eye on oil prices + U.S. stock trends; don't just look at the candlestick charts.
📌 In the short term, expect fluctuations; in the medium term, wait for direction. Don't chase highs recklessly; saving ammunition is the way to go.
