Interpretation of Saturday's market data: collective rise, #BTC☀ gradually increased turnover, and the deposited funds in the market exceeded 170 billion!
The market was calm on Saturday. Let's take a look at the market data after the rise last night. The market data is more optimistic than the market!
Collective rise,#BTC#ETH🔥🔥🔥🔥 The cottages all maintained an increase, ETFs are still a bit weak, and the activity of cottages has increased. Risk sentiment is good.
BTC gradually increased turnover
In terms of trading volume, BTC trading volume increased by 60%, maintaining at around 40 billion. Although it is not a very high turnover, the increase in trading volume shows that last night's breakthrough is not a false breakthrough. And ETF cottages also have different degrees of trading volume growth.
The deposited funds in the market exceeded 170 billion,
Currently, the stable currency funds in the market are 170.3 billion, completing our expected target of 1700 this week, with an increase of 600 million in the day,
USDT: Official website data is 117.676 billion, which is the same as yesterday. The data website shows that the market value increased by 148 million, the transaction volume increased by 62%, and the utilization rate of funds increased, but some funds may remain in the market after the transaction is completed, not inflow.
USDC: Official website data update, as of the week of August 22, USDC issued 200 million more and continued to maintain positive inflow, and the data website shows that the market value increased by 352 million. According to the current situation, the increase in the market value came partly from the off-site inflow and partly from the market retained after the transaction.
Summary:
The data is more optimistic than the market. The turnover during the rise will help stabilize the current price structure, but there is a big controversy in the funds.
As the price of BTC rises, the funds of stablecoins in the market have exceeded 170 billion. However, these funds are not all from the off-site inflow, and the inflow area of the Asian market has been suspended. The funds in the US area are also outflowing and retaining. There are more and more funds deposited in the market. What are they waiting for? Waiting for BTC 70,000 for everyone to take over and change hands?
