#2024-07-04

According to the Shilian Niubite (niubite.com), Charles Edwards (@caprioleio), founder of digital asset management company Capriole Investments, posted on the X platform that a chart shows that there has never been such a large-scale movement of Bitcoin on the chain in history, with an amount of $9 billion, about 10 times the previous peak. This huge transfer came from Mt. Gox, which indicates that Mt. Gox's compensation may really begin.

The shipment from Mentougou will bring short-term selling pressure to the market, but don’t chase the short position of Bitcoin at this level. ETF funds bought in again yesterday. The price around 58,000 has high liquidity and there are a lot of buying orders.

Markets are always born in despair, grow in half-belief, mature in longing, and perish in hope. -- John Templeton (Father of Global Investment)

The content of this article is intended to provide readers with concise market analysis and investment advice, not direct operational guidance. Investment is risky, so be cautious when entering the market.

(The following sharing is for reference only and does not constitute investment advice)

BTC

BTC: The Mt. Gox incident that has dragged on for ten years is about to be repaid! The Mt. Gox trustee will start to repay in July. The Mt. Gox trustee will start to repay Bitcoin (BTC) in July. Data shows that a large amount of Bitcoin was moved on the chain yesterday. On-chain data tracking shows that a large amount of Bitcoin came from the Mt. Gox address. The shipment of these Bitcoins caused a lot of selling pressure on the market. The price has fallen sharply from yesterday to now. In the face of such an event, the short-term technical aspect has no effect, but the 58,000 level below is still a strong support. There is a large amount of liquidity near this price, and there are also a lot of buying orders. Just keep an eye on this position for the next two days. It is not advisable to be overly bearish for the time being, and even a strong pullback cannot be ruled out.

Today, we will focus on the closing price of Bitcoin. If the closing price is above the 200-day moving average (58,500), it means that the second bottoming out has found effective support near 58,000 again.

ETH

ETH: Bitcoin has fallen sharply, and Ethereum is no exception. It has been affected by Bitcoin and has fallen synchronously. For Ethereum, the previous low of 3210 has been broken, but there are a lot of buying orders below 3000 to 3100. This is the position where big investors have built positions before. Similarly, it is not advisable to be overly bearish near this price, and you can even build some positions above 3100 if you are aggressive.

Altcoins

STX: Stacks is a Bitcoin L2 that brings smart contract capabilities to Bitcoin without modifying Bitcoin itself. Stacks takes a pyramid approach, with a base settlement layer at the bottom (Bitcoin), then adding smart contracts and programmability layers on top of it (Stacks), and then layers on top of that for scalability and speed (Hiro’s subnets)

The market value is 3.5 billion dollars, the circulation volume is 1.465 billion, and the total supply is 1.818 billion.

STX: Bitcoin collapsed yesterday, and STX was affected and moved downward, but it has not hit a new low so far and is still fluctuating in a short-term range. Given the current situation of Bitcoin, it will be difficult for the altcoin to get better for the time being, so be patient.

Notcoin: is a game based on Telegram, where users can earn in-game tokens by clicking on coin images. Released as a Telegram applet in January this year, it attracted more than 35 million users in just 3 months, with daily active users as high as 6 million. Notcoin is the first project to be listed on all major exchanges at the same time. In the next four years, the team will build a series of effective and automated subsystems within the Notcoin ecosystem, including competitions, influencer cooperation and governance processes. The goal is to make these subsystems work seamlessly together to create and attract value within the ecosystem. The total supply of tokens is 102.49 billion, and the circulating supply is 102.49 billion, which is fully circulated.

NOT said yesterday that the short-term trend is downward and it should go down further in the short term. Pay attention to the support below 0011.

ARKM: Arkham is a blockchain analysis and intelligence platform that provides information about real-world entities and individuals behind cryptocurrency market activities. Arkham has built a tool that allows users to search, filter, and sort any crypto transaction by value, token, time, and counterparty. Arkham has received more than $12 million in financing. It is a tool token and also an AI track. The total supply of tokens is 1.0 billion, and the circulating supply is 204.6 million.

ARKM: Although it declined slightly yesterday due to the influence of Bitcoin, it performed strongly today and basically did not follow Bitcoin. If Bitcoin can stop falling, I think it will rebound strongly.

JASMY: JASMY is an IoT + blockchain company that provides basic services such as data security, storage and interaction for IoT environments based on blockchain technology. This project is a Japanese project with a current market value of 1.28 billion. It is basically in a fully open state with no pressure to unlock.

JASMY: The short-term situation is rather bad at the moment, but today the 120-day moving average support was tested. Pay attention to the support at this price level in the next two days.