KOL Ansem: Cryptocurrency may indicate a shift in market risk appetite; if stock indices follow suit, it will confirm a downward trend

ChainCatcher message, encrypted KOL Ansem's post analysis states, "It seems that Bitcoin has broken below the support level and has breached the trading range of the higher time frame.

The key price level maintaining the bearish view on the higher time frame is around $96,500. It is worth noting that there has not yet been any bearish range breakout on the higher time frame during this cycle; currently, there is only a downward divergence, so let's wait and see.

I believe the main issue right now is whether the cryptocurrency market is leading to indicate the overall market's risk-averse sentiment. If stock indices also decline in the coming weeks, this is more likely to be the beginning of a downtrend rather than a small setback in an uptrend."