Who is dumping? Data confirms: this round of correction is led by American investors, $BTC has fallen below $66,000.
Brothers, we have found the root of this correction!
Coinglass's latest data shows that since March 19, Coinbase's Bitcoin negative premium has continued to expand. Meanwhile, Bitcoin has dropped from $74,000 all the way down to around $66,000 currently. These two sets of data cross-validate, pointing to a key conclusion: the leading force behind this round of correction is American investors.
Generally speaking, Coinbase's premium represents the buying strength of American funds. Now that the negative premium has expanded, it means that the selling pressure over there is being concentrated and released, while the Asian session has not seen effective support. So stop blaming the decline on some “whales dumping,” this is institutions washing out, it's compliant funds exiting in the short term.
On the market, the $66,000 level is currently a tug-of-war. Since we've determined that the bearish momentum comes from the U.S. market, our strategy should be clear:
1. Short-term: If there is no strength in the rebound during U.S. market hours, it remains a high short strategy, don't easily buy the dip on the left side.
2. Medium to long-term: This negative premium led by compliant exchanges is often a golden pit for spot gold. Waiting for the premium to recover is the charge signal for entering on the right side.
At this stage, it’s not about who makes money quickly, but who manages risk well. Control your positions well, patiently wait for the Americans to finish this wave of selling, and when quality chips are dumped, we must dare to catch them!
Protect your capital and wait patiently for the flowers to bloom.
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