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A company's earnings report surprisingly caused Bitcoin to surge by 8%?
Just yesterday morning, Bitcoin was hovering around $64,000, and suddenly, like it had been injected with adrenaline, it broke through $69,000 and headed straight for the $70,000 mark. And the trigger for all this was actually a financial report from CRCL.
35%, that was CRCL's gain yesterday. 8%, was the increase Bitcoin followed with.
Honestly, when I first saw these numbers, I was stunned. Can a financial report have such power?
But thinking more carefully, the message behind it is even more frightening: How fragile is the current crypto market? A quarterly report from a traditional company can make the world's largest cryptocurrency dance.
What does this mean? It shows that Bitcoin is no longer the "digital gold" it once was; it’s more like an emotion amplifier.
Just look at the trading data: trading volume skyrocketed, but turnover rate declined. What does that mean? It indicates that most people are on the sidelines, and only a small group is truly driving the price.
The market is like this now: short on money, even more short on confidence.
CRCL’s earnings report looks good, but did it change the regulatory environment for cryptocurrencies? No. Did it increase market liquidity? No. It just gave the market an excuse to go up.
This kind of rise, frankly, is just bottom-fishing funds betting on a sentiment reversal. But emotions, they come fast and go just as quickly.
What really worries me is: if a financial report can make Bitcoin rise 8%, what about a bad report? Or the next negative news?
The current crypto market is like a startled bird; any gust of wind can trigger violent swings. This sensitivity is both an opportunity and a trap.
For those planning to enter the market, I just want to say: don’t be blinded by today’s 8%. This might just be a technical rebound in a bear market, not the start of a bull run.
The market won’t change its trend because of a financial report, but it will expose its fragility because of one.
#深度创作营 $BTC $GT