Odaily News Kirill Kretov, a trading expert at CoinPanel, an automated cryptocurrency trading platform, warned investors to be extra cautious in the current environment: the market remains fragile and easily manipulated. Retail activity is low, trading volume is thin, and even the so-called smart money is on the sidelines. It is no coincidence that the forces that can truly drive the market have chosen to remain silent.
Kirill Kretov believes that long-term Bitcoin holders who have experienced previous cycles are still holding on to their positions, waiting for a higher exit price. This "reluctant to sell" behavior creates market selling pressure and exacerbates the fragility of price fluctuations. Although volatility may clean up retail investors who are over-positioned, he pointed out that only a "thorough clearing" of long-term holders who are forced to sell can create a "pure stage" for large investors to establish new positions. Before that, any rebound is full of dangers. They may induce impatient bulls to enter the market, followed by a violent reversal-this is a typical bull market trap in a low liquidity environment. (Bloomberg)