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Although I am short at the top of the mountain
But my Bitcoin bear market view remains unchanged
My liquidation price is 86k, and I will not add to my position anymore
If I fall, I hope friends will continue to short at 86k
The reasons are as follows:
1. From a policy perspective, the Federal Reserve is not cutting interest rates, possibly raising them
2. The funding environment does not support Bitcoin reaching 83k USD, trading volume is shrinking daily
3. The total open interest across the network is decreasing, and the funding rate has turned positive. But it’s important to be cautious of large short orders at the 83k range. There’s a possibility that the market maker first absorbs the short contracts at 83,000, then turns downward, so caution is advised
4. U.S. stocks are at high levels and will eventually pull back, dragging the crypto market down. On May 15, the new Federal Reserve chair takes office, and upcoming events like the World Cup will also drain liquidity
In summary, this rebound is entirely fueled by short sellers sacrificing themselves as fuel. There’s a chance it could happen again.