From A Jian’s personal experience, this round of “bullish” market rise is actually the most confusing one. A large number of friends hesitate at this kind of moment about whether to get on board. Because leverage most easily makes the price action look stronger than the real underlying demand. A big batch of people will first fail in their judgment of the buy-side order book structure, and then—because they also misjudge supply and absorption—pay another round of tuition.

Including coins such as $XRP , $HYPE , and $ZEC , the specific reasons behind the upswings of major coins were already broken down by A Jian yesterday. Some are driven by ETFs, some by whales, some by short-term leverage, some by buyback/repurchase expectations, and some are simply that supply hasn’t been dumped into the market for the time being. Multiple factors working together makes the rally both stronger and more confusing. So I hope all you friends, when you turn bullish in this wave, first understand exactly which kind of “rally” you are buying into.

Spot? ETF? Agreement/contract revenue? Or leverage? The hotter the market gets, the more active both buyers and sellers become. And the more you must not be taken out early just because you were right on direction but your position is too oversized.