The Bitcoin (BTC) derivatives market has been showing a gradually cautious trend recently. The strategic shift of Bit Digital focusing on Ethereum (ETH) mining, combined with geopolitical tensions, has been raising concerns about a potential trend reversal.
After Iran attacked a US military base in Qatar earlier this week, the Bitcoin price temporarily dropped below $100,000 (approximately 139 million won). Although it rebounded to $108,000 (approximately 150.12 million won) on Wednesday due to demand recovery, internal market sentiment detected skepticism about continued upward momentum. Particularly, the subtle psychological changes in the derivatives market substantiate this atmosphere. Investors appear to be placing more weight on the possibility of adjustment rather than short-term further increases.
This wariness was more distinctly revealed in Bit Digital's recent business adjustment. The company declared a transition from Bitcoin mining to other blockchain-based revenue models, such as Ethereum staking. Consequently, the industry is concerned that other mining companies might show similar movements and potentially release their Bitcoin holdings to the market. Especially at a time of constrained liquidity, there are analyses suggesting that large-scale selling could trigger a sharp price decline.
Nevertheless, macroeconomically, there are still many factors supporting the market. With Trump continuing to pressure the Federal Reserve for rate cuts, the global liquidity expansion trend continues. This background supports investment preference for risky assets like cryptocurrencies. However, the derivatives market's flow shows that such optimism cannot be definitively realized.
While Bitcoin may re-enter an upward trajectory, considering the overall industry's profitability issues, miner trends, and institutional fund inflow, it is a time to be wary of volatility expansion. Investors need to focus more on structural market changes rather than finding relief in short-term price rebounds.
Real-time news...Go to Token Post Telegram
<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>
