Analysis: Bitcoin Long/Short Ratio Approaching Inflection Point, Stablecoin Dominance Indicates Short-Term Upside Pressure

On November 26th, Delphi market analysts examined the current bullish and bearish structure taking shape in Bitcoin: · In a bullish situation, the present trend is regarded as an ABC corrective pullback, which needs to be completed in full and break above $103,500 to be confirmed. · In a bearish situation, if the current rebound forms a lower high below $103,500, it will set off the next downward wave to complete a full 5-wave impulse down structure before experiencing a larger and more sustained rebound. · The stablecoin indicator is also worthy of attention. The market dominance of USDT is breaking out of a long-term downtrend, while its supply is contracting on the weekly chart, which is generally not the ideal background for the arrival of a sustained uptrend.