Bitcoin started to decline on Monday morning! Here’s a brief discussion of my views, along with some thoughts on the future market!

In the early trading session, a waterfall sell-off occurred. What major negative news impacted the market?

The reasons for Bitcoin’s decline today:
1. Trump is preparing to impose additional tariffs on 8 European countries, initiating a new trade war
2. US and European stock markets are falling, dragging the crypto market down
3. Spot ETH net outflows, capital fleeing

Two possible scenarios for BTC within the next month:

1) B-wave rebound peak at 98,000, forming the second daily rebound high around January 27, then starting a C-wave decline on that critical day, with the first target around 71,000;

2) B-wave rebound peak around 100,000, around February 10, then beginning a C-wave decline, with the first target around 71,000.

Regardless of the scenario, the C-wave is getting closer.

Considering recent ETF institutional fund flows, B-wave rebound volume and days, along with slight divergence between price and volume on the daily chart, I personally believe the first B-wave rebound scenario is more likely, meaning the rebound high is below 98,000.

When the price rebounds again to 95,000–98,000, I think it’s time to start medium-term short positions on BTC and ETH.