Yesterday, BTC felt like it was pushing through a false breakout. BTC ETF net outflows were of more than $100 million, and above 70, basically no one was buying except Saylor. Yet the price broke through the resistance at 69 from 68 and climbed all the way to 72. I judge this was probably a fierce manipulation—purely a short squeeze.

Overall 24-hour holdings decreased slightly by -0.27%, with a larger decrease on HL of -7.58%. At this point, the risk-reward ratio is actually fairly average. Upside space is to 75, and downside could also go to 65. Overall the risk-reward ratio is close to 1:1, so it isn’t particularly a good spot to open a position.
Instead, the previously consolidating CPU sector leader $INTC has broken out of its range, directly exploding higher by +50%.. Sure enough, if you look at rebounds, the US stock market bounces far more than BTC—after all, the buy-side demand for $BTC is now entirely propped up by $MSTR issuing preferred shares.