Market dynamics and capital changes:
(The data is real-time data. If there are major changes in the short-term market, the data will be significantly biased)
The current total market value of the market is 2.58 trillion, which is a decrease of 122 billion compared to yesterday.
The market value of Bitcoin is 1,284.7 billion, which is a decrease of 61.3 billion compared to yesterday.
The market value of Ethereum is 394.7 billion, which is a decrease of 22.5 billion compared to yesterday.
The total market value decreased by 122 billion, Bitcoin and Ethereum decreased by 83.8 billion, and the remainder was the 38.2 billion market value drop of the copycat.
Bitcoin’s market share is 49.8%, which is unchanged compared to yesterday’s data. Ethereum’s share is 15.3%, which is unchanged compared to yesterday’s data. Altcoins’ share is 34.9%, which is unchanged compared to yesterday’s data.
In terms of transaction volume:
The total transaction volume was 143.8 billion, an increase of 27.8 billion compared with yesterday.
Bitcoin 39.2 billion, an increase of 3.8 billion compared to yesterday,
Ethereum 21 billion, an increase of 4.8 billion compared to yesterday,
The total transaction volume of Shanzhai was 83.6 billion, an increase of 19.2 billion compared to yesterday.
Funding:
The total funds on the market are 151.2 billion, an increase of 100 million compared with yesterday's retained funds, and the funds accounted for 5.86%, an increase of 27 basis points compared with yesterday.
USDT: Market value is 104.65 billion. Compared with yesterday, the market value increased by 250 million US dollars. The transaction volume was 80.4 billion, and the transaction volume increased by 29%.
USDC: Market value 32.88 billion, an increase of US$520 million compared to yesterday, with a trading volume of 10.6 billion, a 37% increase in trading volume
Yesterday we said that this week is the first week of April, and we do not expect Bitcoin to make a powerful breakthrough. As long as the data of Bitcoin and the crypto market are getting better day by day, it is a good performance. Today’s results are here Yes,
Although the market value of today's market has declined overall, the main players are Bitcoin and Ethereum. Copycats have fallen with the decline, but there are still many strong tokens rising. The overall market value of the market has not changed much, indicating that despite the decline, the copycat market has not A stampede panic occurred, and today's data performance is no longer a case of Bitcoin falling and copycats collectively falling rapidly. Many institutions and market makers of copycats are more sensitive than retail investors. During the downward trend of Bitcoin, some copycats chose to make markets to boost prices, which shows that institutions and market makers judge that the trend of the market is not completely declining.
In terms of trading volume, today's trading volume has increased compared to yesterday. However, when the market falls, the increase in trading volume is often accompanied by an increase in the power of bargain-hunting and buying orders.Especially in today's copycat market, the transaction volume has increased significantly, indicating that the confidence in the copycat market is still there. As the prices of Bitcoin and Ethereum fall, the increase in transaction volume is also due to the data brought by traders increasing their holdings.
In terms of funds, today's data showed a significant change compared to yesterday. On-site retained funds increased by 100 million. Over-the-counter funds changed from yesterday's net outflow to net inflow, and the single-day net inflow reached a high value of 7.7. Especially in the United States, 520 million funds have flowed in, which means that 670 million of the over-the-counter inflows today were directly involved in transactions. This once again confirms that market sentiment is better than yesterday, and traders dare to participate in transactions.
Through the comparison of data, we can clearly see that compared with yesterday's data, there are obvious changes today, and they are positive changes. As Bitcoin falls to support, market sentiment has gradually warmed up. If the current state continues, the market will have an obvious explosion after the release of the five major non-agricultural data this week.
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After rebounding in the early morning and encountering resistance levels, Bitcoin fell again, falling directly below yesterday's first and second supports, and is currently testing the third support. We also said yesterday that the first support fell below, and the price entered the lower track of the daily Bollinger Band. There is a risk of continued decline in the short term, and the extent of the decline can be seen around 62,000.
But optimistically, after falling below the first support of 68,000, there is still support from the monthly line, which is the support near 65,000. At the same time, this support is also the strongest support in the near future. The support is currently being tested for strength.
Let’s look at the rebound resistance level first. The first resistance level is 68,000, which was yesterday’s first support level and is the key support for the daily trend. Now comes the key resistance level. The second resistance level is near 73,000. This resistance comes from the limit of the daily Bollinger Bands.
The strongest short-term resistance level comes from the resistance brought by the weekly line near 74,000.
Of course, what many people are now concerned about is not the resistance level, but the price drop of Bitcoin. Since it has fallen below the daily trend, where is the short-term support? How much room for decline is there?
The first support, 65,000, is short-term support with strong support strength. This support is provided by the weekly EMA7 and the monthly Bollinger Bands. The technical support provided by the large-level time line is strong.
The second support, 62,700, is short-term support. The support is weak. This support is provided by the lower line of the daily Bollinger Bands to provide effective support. The relative support strength is weak.
The third support, 61,300, is short-term support and has the strongest support. This support is effectively supported by the middle line of the Bollinger Bands at the 3-day line level and the golden section of the Fibonacci retracement level between the lowest and highest levels in history since 22 years ago. . Especially for the latter, callbacks in an upward trend and the golden section of Fibonacci retracements often form an effective support data.
However, from a technical point of view, we can emotionally understand that once it falls below the first support near 65,000, the bottom will lose real effective support in the short term. Until the strongest support is near 61,300, there is still room for a 3,700-point decline. Therefore, the first support may be more critical at present.
When the price of Bitcoin fell below yesterday's first daily support line today, the price of Bitcoin reached the lower track of the daily Bollinger Band. Running at the current position, it may have to withstand greater selling pressure.If there is no support of 65,000, the risk of Bitcoin falling to around 62,000 in the short term is already very high. Now the short-term pressure has given today the first support. If this support breaks, then Bitcoin will fall back to the monthly Bollinger Band, and there will be more room for decline. increase, the subsequent rebound will face this strong resistance point.
And the monthly resistance point may be stronger than the weekly resistance point.
At present, the price of Bitcoin has fallen below the Bollinger Band trend in 1 hour and 4 hours, but there is an obvious Bollinger Band divergence in 4 hours.
Combined with the fact that the RSI relative strength expenditure has fallen below 40, if there is no continued negative sentiment guidance, there will be a high probability of an oversold rebound sentiment at the current support position.
The recent continued sluggish market sentiment, due to the expectation that interest rates will not be cut for the time being, has made the U.S. stock market weak. Market sentiment and market funds have begun to be suppressed due to the actions of the Federal Reserve and the emotional tension in the financial market. The mood is relatively pessimistic, and the risk market is Risk aversion is also increasing. But we still have to rely on data to speak.
When we analyzed the data yesterday, we said that this week, as the first week of April, the overall market data and sentiment will be optimistic as long as it slowly improves.
Today we see that although Bitcoin has fallen, many tokens in the copycat market have begun to rebound strongly. The decline of Bitcoin has released more funds. Will this trigger a wave of copycat craze?
Later comes crypto market data analysis.
#BTC
