Analysts at Bexplus believe that BTC's rise has reached a record high of more than $22,000, and the volume has been steadily enlarged, indicating that the bulls still have strong control over the market. At the same time, the market of mainstream cryptocurrencies has followed the pace of BTC to further rise.
(There is an increase in price changes, so be cautious when chasing the rise)
During the period of BTC's sharp rise, in addition to washing out the short positions of active traders of $600 million, there was also a blowout in spot trading. BTC's 24-hour trading volume has rebounded to more than US $50 billion, which is almost double the US $26 billion on December 16th. Although the trading volume is lower than the previous level of US $60 billion, considering the impact of long reluctance to sell and the heat of trading, the trading volume of BTC will also show higher values.
In terms of overall trend performance, as the BTC price has continuously reached new highs, the historical hold-up of the new price has disappeared. Therefore, if the trend of BTC is maintained well and the adjustment is controlled within a small space, it will not have a substantial impact on the price increase.
In the direction of the transaction, whether the market can rotate or not depends on the trend of BTC, because BTC is the leading cryptocurrency as well as the one with the highest market value. Holding BTC is still the most potential trading direction.