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It really is “rising as a hedge, falling as a hedge”!
Hedging without retreating—big pizza is hard-pressed to see a larger rebound!
But from the whole of March, we can see: as hedging eases, big pizza rebounds. Once things heat up again, it comes under pressure once more—and today’s drop is the best example.
However, we can’t put too much trust in “Chuan Ge.” Tonight, the key focus is the 70,000 support level. As for how the short-term trend will move, it still depends on how hedging plays out. $BTC