Trader CryptoCapo: Bitcoin’s frenzy is already evident, a reversal is only a matter of time, and most altcoins are in a downtrend
According to Odaily Planet Daily, trader CryptoCapo posted in his community: “Since the Middle East ceasefire on June 22, Bitcoin has continued to show strong momentum. Some altcoins have started to catch up, but most are still in a clear downtrend, forming a series of lower highs. Traditional markets, on the other hand, are showing signs of weakness and may be forming a top.
The frenzy around Bitcoin is already apparent, and in my opinion, a reversal is only a matter of time.
Currently, all my short positions are in a loss. Fortunately, I am using very low leverage, so to the disappointment of some, I have not been liquidated yet. Even if I do get liquidated, these positions represent only a small portion of my total net assets. They are positions I have built strategically to test my market judgment, and at the same time serve as a hedge against a possible 'black swan event'—even though this idea may sound crazy now, the possibility still exists.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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