The negative premium of USDT disappeared, and the speed of capital outflow began to weaken.
The USDT premium refers to the ratio of USDT to the U.S. dollar. Although the ratio of U to U.S. dollar is 1:1, it is a stable currency issued by TEDA after all. Once many people buy U in a short period of time, the price of U will be higher than that of the U.S. dollar until Only by continuously converting U into U.S. dollars can this part of the premium be filled.
Therefore, everyone has found that the U premium can measure market sentiment and better observe the inflow and outflow of funds. You can see that the U premium turned from positive to negative starting on March 16th, and BTC peaked and fell back. The last time this happened was when BTC rose sharply on February 27th.
At night, the Federal Reserve released expectations for an interest rate cut, and BTC rose sharply in conjunction with U.S. stocks. Correspondingly, USDT returned to the 1:1 mark against the U.S. dollar, with long and short balances. The flow of funds in the next few days will play a key role in the market.
BTC：
BTC pulled back the 5-day line, the hourly line pin rebounded, and the shrinkage surged upward. It needs to test the top multiple times. The key resistance of the box above $68,806 formed on 3.16 and 3.18. BTC needs to break through $68,806 in heavy volume to break the resistance mark. Entering a new round of upward trend, BTC then rose to test $68,806.
Resistance levels: 68806, 70493, 71998
Support level: 65588, 62994, 61065
ETH：
Many whale addresses on the chain moved, which was expected to sell ETH. The two pins at the bottom of the hourly line rebounded, confirming the bottom support. The upper US$3,623 is the key point of the resistance line. Only by standing firm at US$3,623 can the bottom be strengthened and enter. The short squeeze boosted the market, and then ETH rose to test $3,623.
Resistance levels: 3623, 3756, 3824
Support levels: 3398, 3185, 2946
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