Dear friends, the latest news on Bitcoin ETF! The China Securities Regulatory Commission has stepped in, and Wall Street is also in an uproar! What "tiger words" did the China Securities Regulatory Commission say?
Breaking news, this dark horse coin backed by Binance Labs is likely to be launched this month! Hurry up and learn more about it so you can plan ahead.
(Source: See Binance Labs Portfolio public data for details)
The on-chain data has been exposed. Will the Bitcoin whale take action? And how will the market develop in the future? Let’s follow Shuqin to find out.
Ah, just before the ETF results came out, the U.S. Securities and Exchange Commission’s official Twitter account suddenly posted a message that caused an uproar. See the picture.
He said: Don’t be a Fomo. Don’t buy a certain investment just because others are buying it crazily. It may not be a good time for you.
My God, this official tweet was viewed by nearly two million people, which can be said to have far-reaching impact. So what is the CSRC up to?
In fact, the SEC always releases these ambiguous but important tweets, so don’t expect them to issue specific operational guidelines, especially now on the eve of ETFs, and everyone has to rely on guessing.
Na Shuqin thinks we don't need to think too much, his original text is the best answer. That is to be alert to risks, don't Fomo, and don't chase high prices. In short, don't give money to Wall Street anymore.
Ah, it is true that Wall Street is too outrageous now. Recently, it has been cutting off our retail investors.
Like last Monday they said Bitcoin would pass ETF on Tuesday, and then retail investors’ Fomo increased from 42,000 to almost 46,000. As a result, you also saw a big negative line that directly dropped to 40,000, wiping out all the retail investors who chased high prices.
Then Fox said on Thursday that the results would be out on Friday, and retail investors rushed in again. As a result, on Friday another big negative line came down, and a lot of people went bankrupt again.
You see, these Wall Street media always swear that they will approve the products, but then they run away, or even short sell the products, cutting off us retail investors again and again.
Now even sources at Fox and Bloomberg are arguing.
Eleanor Terrett, a host at Fox TV in the United States, warned that the SEC may delay the Bitcoin ETF.
As a result, a senior analyst from Bloomberg said that the SEC chairman was in charge of everything and approval this week was inevitable!
There is indeed a reason for this.
Just this morning, the SEC made revised comments on the S-1 forms submitted by the institutions, which led some people to believe that the institutions may not have time to complete the revisions by the deadline.
The big brother of Bloomberg is more ruthless. He said that the agency will complete it in the United States on Tuesday, and then there will be another wave of good news for submitting documents!
In fact, do you know that in this bull market, the ones who lose the most money are not the short sellers but the long sellers who chase the rise.
Look at these long positions that were liquidated. You will be shocked if you don't see them. Everyone thought that the short positions suffered heavy losses, but it turned out that the long positions suffered the most liquidations.
If you think about it this way, it’s really strange that all the losses from long positions will turn into profits for short positions.
In fact, I think that even if it passes, it will only pull up for a while at most. This is actually an opportunity to escape the top, because I think Bitcoin has a need for a pullback, but the magnitude of the pullback may be different.
At present, Fibonacci's 48,000 and 50,000 integer levels are both very strong resistance.
If it passes, the price of the currency will at most jump up a bit, and then as all the positive factors are exhausted, it will gradually start a healthy correction wave, for example, to 38,000 or 40,000.
Then when the output is halved, it will continue to rise. I think the next stop for Bitcoin should be the previous high of 69,000! This price is expected to be reached in the second half of this year.
Once the dust settles on the Bitcoin ETF, Shuqin thinks the next story may be Ethereum's spot ETF. After all, Ethereum, like Bitcoin, has also been an ETF through futures.
Once it is rejected, it will definitely be a flash crash. After that, it will consolidate at the bottom for about a month, and then rise again after the panic of retail investors has passed. There is still a chance to break through the previous high of 69,000 by the end of this year.
In addition, we can actually refer to the on-chain data.
Recently, there have been two large withdrawals, which have created two deep pits. The big investors all bought on the eve of the outbreak.
The first time was at 38,000, and then the price soared to 44,000. The second large withdrawal was at 41,000, and then Bitcoin soared to 45,800. It can be said that each time the whale bought before the surge. Shuqin posted this on the show before the surge last month, saying that the whale almost emptied the exchange at that time.
As the ETF results approach, there are indeed no large purchase orders on the chain, which is different from what many retail investors think. They always thought that institutions would take over their orders after the approval, but they didn’t know that the whales were very aware and had already bought in a few months ago.
Even if you look at this bear market, the biggest bottom-fishing occurred in November 2022.
At that time, the price of Bitcoin was 16,000. It could be said that the big investors swallowed up billions of chips that the retail investors had sold at a loss, and transferred them from the exchange to their own cold wallets.
The futures data is not so optimistic. Although we are all happy that the currency price has risen, the data seems to have peaked.
Whether it is turnover volume, funding rate or position volume, they are all in a large divergence, so I really think a deep correction is needed to restart the market, otherwise it is really meaningless to keep it hanging half-dead like now.
So maybe every sudden pull-up this week will be your last chance to escape the top, and if you are brave enough, you can even open a short position.
In fact, the correction in the cryptocurrency market has already begun. Many small coins have fallen by more than 30% from their highs. Even if they rebounded recently, they are still a long way from the top. Only Bitcoin can rely on ETFs to survive and is still testing high levels. However, once the benefits of ETFs are exhausted, Bitcoin will most likely start to pull back.
In fact, Shuqin asked everyone to take profits on small coins such as OP or Aptos at high levels a few days ago, especially when Aptos was still 11u, and then buy them back after the subsequent correction.
Now it seems that we have indeed escaped to the top.
Because if you want to make a profit in the cryptocurrency circle, you must buy low and sell high, and sell at a certain time. And before we bought so many coins at the bottom, we always had to stop profit at a high point, right, and then wait for a low price to buy it back.
So the one who knows how to buy is an expert, and the one who knows how to sell is a master.
For example, during the last bull market, Shuqin escaped at 60,000 and waited for a full year before Bitcoin and Ethereum reached the bottom at 17,000 and 1,300 respectively. At that time, I led my fans to buy all kinds of stocks. If I had entered the market at 30,000 or 40,000, my price would have been cut in half.
Not only that, I started shorting at 60,000, and then added shorts all the way, with an average price of 50,000. I was shorting for half a year and took profit at 23,500. In the middle, I also received a lot of long funding rates, which was really cool.
You should know that Binance’s contract returns are calculated based on the funding rate, so my returns are over 300%.
Fortunately, I chose Binance, as many small exchanges have collapsed. For us long-term players, fund security is very important. Zhao Changpeng now spends 4 billion to reach a settlement with the SEC to protect us, which really deserves Shuqin's respect.
This time, we not only caught the bottom of each small currency, but also escaped to a higher place. Shuqin is still quite satisfied. Many old fans have earned 5X returns in 2023.
But I tell you, this is just an appetizer, there will be a bigger bull market in the next two years. Shuqin is experienced and has all kinds of data in hand. I am very confident that I can lead everyone to achieve financial freedom in the next bull market.
A bull market comes every four years, and this may be the only opportunity in our lifetime to achieve a class leap.
Promise me you won’t let him slip away again, okay!
Of course, if you are interested in the operation, you can also come and have a look. Benqin updates the operation every day.
Next, let’s take a look at some dark horse projects. These are Benqin’s key bottom-fishing targets in the future.
Recently, Shuqin suddenly discovered a major anomaly when observing the data on the chain. I wonder if you guys have noticed it?
Huh? Did you see that? He is the new dark horse Manta that everyone is looking forward to.
It turns out that this new Layer2 is carrying out a large-scale airdrop campaign and is expected to issue coins this month. So it’s no wonder that its on-chain data is so active. You may not know it without looking at the data.
Manta is truly amazing. The institutions he invested in include the famous Binance Labs, Polychain, and Qiming Venture Partners. Its valuation has exceeded 500 million before it was even issued!
It is rumored online that the scale of his financing is as high as 60 million, so his prospects should be very clear, and because of the investment from Binance Labs, Shuqin speculates that his chances of being listed on Binance should be very high.
Not only that, Cancun will most likely be officially upgraded around March, so when it issues the coin this month, everyone can pay attention and make plans in advance, it should be within a few weeks.
And Shuqin will be the first one to enter with everyone, so we must eat this big meal at the beginning of the year!
Of course, Shuqin has many dark horse projects here, all of which are in the stage of not yet breaking out. We will ambush them one by one in advance. As long as we enter the market early, I estimate that by 2025, many of them will have the potential to increase by dozens of times.
Well, today's program ends here. Please follow us, and let's achieve financial freedom together in this bull market!
Bye~
