Let the data speak: The market cooled down significantly on Friday, risk sentiment deteriorated, and the market is waiting for a new narrative to ignite!
Through today's market fluctuations gradually tightening, we still find that the market is entering a cooling-off period this week. Through market data comparison, we find that sentiment is indeed declining and risk appetite is getting worse. However, it cannot be said that the market is getting worse at present. It can be regarded as a wait-and-see state. Let's look at the data together.
Bold assumptions, careful analysis, welcome to Uncle Cat’s encrypted “channel”
Market value/share:
The market value decreased for the first time this week, decreasing by 29 billion within the day.
#ETH altcoin market value fell across the board,
In terms of proportion, BTC's daily proportion increased by 0.2%, while ETH's altcoin proportion decreased, which indicates that the market's risk appetite has deteriorated and the sentiment has become more stable and conservative.
Trading volume:
It is basically the same as yesterday, but BTC ETH transactions increased slightly, while the altcoin trading volume decreased. The sentiment of altcoins has calmed down due to the two consecutive days of BTC decline.
Funding:
The total market value of stablecoins decreased by 100 million.
USDT: The market value of the data website increased by 0.79 billion. The official website data is currently 113.696 billion, an increase of 0.64 billion compared to yesterday. Although funds are still flowing in, the magnitude has been significantly reduced.
USDC: Data website market value decreased by 106 million, and transactions remained relatively stable. According to the current market situation, funds may be involved in transactions. Tomorrow, Saturday, we will be able to get valid USDC official website data.
Summarize:
Similar to today's market situation, the market is currently in a wait-and-see state with declining sentiment on Friday. Given the current high-level volatility, if the U.S. stock market cannot drive the market tonight, then this Friday to the weekend will be a defensive battle. The weekend and next week will be a stage where "big things" occur frequently this month, and the market is also waiting for the "spark" to be ignited.
#BTC☀ #ETH🔥🔥🔥🔥 $BTC