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Both BTC and ETH have failed this time. Many whales have chosen to cut their losses and exit, and a lot of people across the internet have been liquidated. However, after the whales cut their losses and left, they entered long positions again one after another.
BTC did not drop to a very deep level this time. Its rebound is still quite strong. So as long as it can stabilize above 3000 points within a few days, we can still remain bullish for the future.