Let the data speak: the market is expanding, positive and optimistic, and a large amount of funds are flowing into Asia and Europe!
Bitcoin fell after hitting a high in the day. Many people believe that the short-term market is going to be bearish again. However, we still have to rely on objective analysis. The market situation in the previous article is relatively optimistic. It is a small correction for the time being. Then look at the overall market data. The data may be more optimistic than the market situation. Let's take a look together.
Bold assumptions, careful analysis, welcome to Uncle Cat’s encrypted “channel”
Market Cap:
Although the price hit a high and then fell back during the day, the overall market value still rose compared to yesterday, with a market value increase of about 44 billion. In terms of market share, Bitcoin's share decreased slightly by 0.1%, while Ethereum is still "as stable as a rock". The copycat showed better rebound power in the increase, and its current share has increased.
Trading volume: Affected by market fluctuations, trading volume increased significantly, and the turnover I expected finally came. Among them, the trading volume of altcoins increased the most, accounting for half of the market trading volume, followed by Bitcoin, and Ethereum still maintained a stable small increase.
Funding: The market value of stablecoins on the exchange increased by 400 million.
USDT: The market value of the data website increased by 227 million. The official data on the chain is currently 1128.62, an increase of 293 million compared to yesterday. At the same time, the trading volume increased by 55%, and funds flowed in and were fully active.
USDC: The market value of the data website decreased by 86 million. There is no official data yet. The trading volume increased by 40.3%. Although there is no continued inflow of funds, the funds in the US region are fully and actively participating and the enthusiasm is very high.
Summarize:
As we expected yesterday, the market finally ushered in a small-scale correction and large-volume turnover. I have said that the increase in volume and turnover in the upward trend are actually good things. Although the price has fallen in the short term, the holders after the turnover will have higher expectations for the future. At the same time, it will pave the way for price stability and subsequent increases.
Especially in the altcoin sector, the higher trading volume accompanied by the explosion of market value shows that the altcoin is more stable in its rebound.
The funding aspect is more interesting. If the recent wave of increases is due to the "Trump incident", then traders in Asia and Europe may be more FOMO than traders in the United States. Just kidding!
The inflow of funds, the increase in trading volume and the increase in activity are all good things for the current and future market. Therefore, do not be pessimistic or panic about the current short-term decline and correction, and do not over-interpret the potential "Mentougou" problem.
#BTC☀ #ETH🔥🔥🔥🔥
