It’s been a long time since I last saw the Bitcoin benchmark rate—finally, ending a stretch of negative rates that lasted for two months.



This suggests one thing: the number of long positions is rising straight up. Galaxy is certain that whoever is bullish and “bottom-fishing” in this wave is the same group that was desperately shorting in April and May—they’re actually from the same wave.

So the only solution is to avoid them and then short with the trend—until this round of sentiment has been completely exhausted.

If, in early June, it falls below the “70s range,” it will definitely trigger a huge waterfall!

If you’re the type who likes catching flying knives, be careful…
BTC-1.81%
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