Traditional finance is accelerating its entry into the cryptocurrency market. Charles Schwab has gradually opened BTC and ETH spot trading to approximately 39.8 million active brokerage accounts, with client assets of approximately $13.1 trillion as of the second quarter. Cryptocurrency assets are further entering the standard investment channels of traditional securities firms.
But the short-term market is not easy.
According to real-time market data, approximately $888 million has been liquidated across the entire network in the past 24 hours, with both long and short positions experiencing large-scale liquidation. The long short ratio of BTC accounts remains high, and long positions have not completely withdrawn, indicating that the market is still in a high volatility game stage.
Meanwhile, an anonymous whale has sold a total of 7513 BTC over the past three weeks, worth approximately $487 million. It is worth noting that during the period of large selling, BTC did not experience a synchronous uncontrolled decline, indicating that there is still a certain degree of absorption in the spot market.
This is currently the most noteworthy contradiction:
Traditional capital entry is expanding, but large chips are still being cashed out.
In addition, the expiration of BTC/ETH options today may further amplify short-term volatility. BTC is currently close to the key option price range around $63500, and investors need to pay attention to the changes in hedging positions before and after expiration, but it is not advisable to simply regard max pain as the target level that the price will inevitably reach.
Set warning location:
Above $64000: Observe whether you can increase your trading volume and stabilize yourself, and confirm whether the selling pressure has been continuously digested.
$63000- $63500: Key observation area, to prevent further release of leverage in case of loss.
Around $62000: If quickly retraced, observe whether spot funds have been taken over again.
What is truly worth watching now is not whether BTC will immediately rise after 39.8 million accounts enter the market, but rather:
When traditional funds continue to expand their entry while whales continue to sell, who is eating up these chips.
Funds are entering the market, chips are being exchanged, and the true direction selection for long and short positions has not yet been completed.
Risk Warning: The above is only for market information sharing and data analysis, and does not constitute any investment advice.
