Ansem warns BTC's 2% drop post-Binance hack not a bullish signal

Crypto trader Ansem stated that Bitcoin's approximately 2% decline following the $6.3 billion Binance hack should not be seen as a bullish indicator. He noted that retail speculative demand has shifted from leveraged Bitcoin trading to memecoins, onchain assets, and stock perpetual futures, altering the market structure. This change is a key reason for Bitcoin's reduced volatility during significant negative events. Ansem explained that with fewer speculative traders holding leveraged long positions in Bitcoin, immediate declines in response to bad news may be less severe. However, he cautioned that this should not be interpreted as the end of the downtrend, indicating that selling pressure is becoming more passive.

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