This week, the cryptocurrency market experienced a significant surge and oscillation.
After a strong rise earlier, BTC briefly launched a shock towards around $82000, but then quickly fell back. In early September, it even fell below $77000, and then recovered towards around $80000. The market's long short divergence widened significantly.
However, the financial situation did not weaken comprehensively with the price correction.
Data shows that in the previous week, BTC spot ETFs still received a net inflow of approximately $924 million, while ETH related funds recorded an inflow of approximately $816 million;
At the same time, assets such as SOL and XRP have also begun to receive more funding attention, and there are signs of the market spreading from BTC to other mainstream currencies.
Large players on the chain also have frequent actions.
This week, there have been both tens of millions of dollars worth of BTC bottoming out plans and over billions of dollars worth of ETH leveraged long orders facing downward pressure;
Some HYPE whales even added billions of dollars in positions after the price increase.
Big funds did not choose to leave uniformly, but instead searched for opportunities between different assets.
Therefore, what is truly noteworthy this week is not how much BTC ultimately rose, but rather the important area around $80000 that has become a battleground for long and short positions to compete again.
If BTC can regain its stability at $80000 and break through its previous high, market risk appetite may continue to recover;
On the contrary, once it falls below $75000 again, the recent high leverage position may still become an amplifier for the next round of volatility.
Risk Warning: The views, conclusions, and recommendations presented in this article are for reference only and do not constitute investment advice. The market is risky, and investment needs to be cautious.
