#BTC Since February, the volatility has gradually tightened, and this month I adopted a strategy of not being greedy, accumulating small wins. During this period, the 12 consecutive wins and the current 7 consecutive wins both settled down steadily first. Otherwise, being too greedy not only fails to gain, but also easily leads to retracement or being swept out. Due to poor liquidity, big moves are hard to make...

Bitcoin, and altcoins this month, have extremely poor liquidity, with a 70% reduction compared to February, and a 40% reduction compared to April. Currently, retail traders are barely active, relying solely on institutions and whales to absorb orders.

Why is liquidity getting worse and worse?
1: Global liquidity is tightening, inflation is high. Rate cuts are delayed, geopolitical and regulatory uncertainties lead to market hesitation, and investors are reluctant to enter.
2: Retail traders' basic stance is that enthusiasm is diverted by AI, US stocks, and the crypto market's activity and trading volume have halved. Small funds can only lie flat, and they dare not touch spot.
3: Institutions are locking in coins, continuously accumulating, and "only holding without selling" means no volume in spot, leading to shrinking liquidity.
4: Around 80,000 becomes a "no man's land," with short-term costs concentrated between 80,000 and 82,000. Both bulls and bears hesitate, large orders within the range are sparse, and liquidity further deteriorates.
If the "Wosheng stage" on the 15th cannot stimulate the market, then poor liquidity will persist until the end of the month.

Ultimately, the root cause of the current market situation is inseparable from Wosheng: its hawkish policy stance prompts various institutions to accelerate their positioning in Bitcoin assets; after entering the market, institutions only hold and do not sell, locking in positions long-term, which directly causes the current low-volume, narrow-range, low-liquidity oscillation market. #美国4月CPI上涨3.8%