Ansem: Cryptocurrency may indicate a shift in market risk preference. If the stock index follows a decline, it will confirm a downward trend

KOL Ansem posted an analysis saying, "It seems that Bitcoin has already fallen below the stop-loss support level and has broken through the trading range of the high time frame. The key price point to maintain a bearish view on the high time frame is around $96,500. It's worth noting that there hasn't been any breakthrough in the bearish range of the high time frame in this cycle yet, only a downward deviation at present. Let's wait and see. I think the main issue now is whether or not the cryptocurrency market is leading to indicate risk aversion sentiment in overall markets. If stock indices also fall in coming weeks, it could more likely be seen as beginning of a downtrend rather than just a minor setback within an uptrend."