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Today is Sunday, and it's also Dragon Boat Festival holiday and Father's Day, everyone is resting, and the market hasn't moved much, it just quietly nudged up a little.
$BTC $63833 increased by 1%, $ETH $1726 rose by 1.4%, $SOL shot up by 3.35% directly.
It looks pretty good, but I advise you not to get too excited; we're still in a slight breather at the low after last week's FOMC crash, it's too early to say it's recovering.
There's one signal I think is worth noting: the funding rate turned negative, -0.0031%, meaning there are more shorts than longs now, and shorts are paying longs.
A bunch of people expect further drops and go short, but if BTC doesn't break down further, this situation could easily trigger a short squeeze and a rebound upward. Not saying it will definitely rise, but this scenario is quite interesting.
SOL rose 3% today; I’m not too eager to chase it. With such poor liquidity over the weekend, it's normal for prices to be easily pushed around. Wait until BTC stabilizes above 64k first.
Gold continues to stay strong, while BTC remains lukewarm. This divergence makes me a bit uncomfortable, indicating that institutions still treat BTC as a risk asset rather than a safe haven. This characterization won't change in the short term, so BTC's rebound potential will be limited.
The most important thing today isn't what happened today, but the opening of the US stock market on Monday. Last week's FOMC shock hasn't been fully digested by institutions; next Monday will be the real stress test. The prices over the weekend don't count; just wait and see.
Light positions and observe, don't make reckless moves.
DYOR, not investment advice.