Surge continues amid ETF inflows, but caution advised. View dips as buying opportunities with potential risks in an overextended market.

• Early on Monday, the bitcoin market smashed through yet another barrier as ETF inflows continued to support the market.
• Having said that, we need exercise extreme caution when pursuing the market at this time because we are also extremely overextended.

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Monday's trading session saw Bitcoin continue to gain significant traction due to the large number of purchasers who were eager to enter and take advantage of this market. Given this, I believe there will be a lot of traders out there chasing, and regrettably, I believe that this is how people will perceive it going forward.

Somebody Will Get Hurt

Having said that, there is a good likelihood that someone will suffer harm, but it is obvious that you cannot be a short seller right now. To be honest, it would be a terrific way to lose money. Given that, I believe you should consider any downturn to be a possible opportunity to buy. Additionally, I believe that traders will keep participating whenever they can.

Having said that, see dips as a chance to participate in the current meltdown that is occurring. It seems probable that the Bitcoin market will aim for the $70,000 mark before everything is said and done. And things are just the way they are. If we manage to reach $62,000, there will be a good number of people there whenever we retreat.

Then there are 52,000 following that. Nevertheless, it's very difficult to conclude from this chart that we are not experiencing a melt-up bubble of some kind. This indicates that Wall Street is participating, and you need to be aware that a lot of this is driven by ETF inflows. Thus, a significant sum of money will be invested in this. When it's time to give your baggage to other people, a lot of money will also come out of it. Therefore, even though I enjoy purchasing dips, I am aware of how risky this is. Unless it's for a fast smash and grab setup, chasing it all the way up here is just playing with fire.

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