Analysis: Recommend Continuing to Be Bullish on Bitcoin While Hedging Risks with Altcoin Perpetual Contracts
May 9 news, according to the latest report from Matrixport, the price of Bitcoin has once again surpassed $100,000, rising 16% since reaching a key level of $85,450 on April 11. The report indicates that after Bitcoin broke through the 21-week moving average ($87,199) and the Fibonacci resistance level ($87,045), coupled with accelerated ETF inflows, a strong upward signal was formed. Currently, Bitcoin's market capitalization share has risen to 64.5%, the highest since the DeFi boom in 2021, demonstrating the market's "safe haven" tendency. In contrast, altcoins continue to perform sluggishly, with social media attention dropping by more than 40% since December last year. The report suggests maintaining a bullish outlook on Bitcoin while hedging risks through perpetual contracts on altcoins.
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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