Yesterday I was chatting about U, and a friend asked if there were any indicators to observe how U controls the market.
The liquidity of the market can be judged by the circulating market value of USDC.
It can be seen that USDC had three major issuances in the first half of the year, corresponding to three major increases, namely at the end of January, the end of February and the beginning of March.
USDC is a stable currency controlled by the United States. American institutions cannot buy U, but they can buy and sell USDC. Therefore, USDC can better judge the intention of institutions. The circulation of USDC has been flat in the past two days, indicating that it is still in the stock market.
Only when USDC is issued significantly and new funds enter the market, will the small coins explode.
BTC：
The net outflow of ETF funds is expected to exert selling pressure on BTC. BTC surges higher and falls back, confirming that the resistance of the box is suppressed. The upper US$67,715 is the key point of the box formed on March 27 and April 2. BTC needs to stand firm at US$67,715 to build a bottom. Strengthening, BTC then fell back after rising to $67,715.
Resistance levels: 67715, 69953, 71256
Support levels: 65745, 63253, 61048
ETH：
The heavy volume fell below the 5-day line and weakened, and ETH entered the bottom trend. The hourly line pin fell back, confirming the M-head trend. The upper US$3,425 is the key point of box resistance formed on March 28 and March 30. ETH needs to break through US$3,425 with heavy volume in order to It quickly surged higher and strengthened, and then ETH fell back at $3,425.
Resistance: 3425, 3554, 3672
Support levels: 3282, 3163, 3046
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