Yesterday I was still murmuring about the increasing pressure from the funding rate, and today the price of CLUSDT dropped to a low of 85 dollars. This time, I won't be greedy; 85 dollars is my set standard line, and now I'm closing 75% of my short position, leaving 25% to see if any miracle will happen by Wednesday. To be honest, I no longer believe much in miracles, but since the profit is close to 80%, it doesn't matter, holding a little to see is fine.
This closing has also withdrawn the margin, which is basically equivalent to giving up this position. If there is another rebound, I will short for the fourth time, still starting from 90 dollars. I always believe that high oil prices are a disaster for the world, and the smooth passage of the Strait of Hormuz is just a matter of time.
Although I think this way, time is not very ample, especially for Trump. Wednesday is the day when the CPI data for May will be announced. Today's drop is highly likely a pessimistic expectation for tomorrow's CPI data, which reflects investors' risk-averse sentiment. If Trump still cannot reach an agreement with Iran to open the Strait of Hormuz before the announcement tomorrow, the market will definitely expect no interest rate cuts until 2026, while the probability of interest rate hikes and recession will increase.
I wonder if, in the middle of the night, Trump will regret getting involved in Iran for no good reason, resulting in an ongoing situation that has lasted for three months now.
Looking back at Bitcoin's data, the situation is improving. Although today's drop is larger, the turnover rate of investors has actually decreased, indicating that more investors are gradually emerging from the shadow of this drop. However, tomorrow the CPI data will be released, and there is a considerable possibility that the data will exceed expectations. Trump may not be of much help, and the rest will depend on bitcoin:native itself.
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