Today's market analysis:

Market review: BTC re-touched the important support level of $64,500, while ETH fell below $3,340, reaching as low as $3,200. The average decline in altcoins is about 30%. In this case, don’t panic, look closely and you will see that the altcoin has returned to a secondary bottom. The recent correction is just a normal fall after last week's excessive gains. As long as you don't blindly chase highs, there are still profits to be made. There are less than 17 days until the pie is halved. We don’t have much time to make plans. Brothers, hold on to your cheap chips and don’t be deceived.

Today's analysis: The pie begins to shake, and the copycat begins to perform! Before the mad cow comes, there will definitely be several waves of washouts. The more thorough the washes, the more violent the rise will be. From March to April, you can only buy but not sell. This is the only opportunity, and this opportunity will be the best in the next five years. The opportunity is gone if you miss it.

BTC: The MACD indicator at the daily level shows that Bitcoin is still in a bearish phase. We need to focus on the important support level of $64,500. If this support is effectively maintained, Bitcoin is likely to fluctuate between $62,800 and $73,700.

ETH: It is hitting the 3200 support level, and today we will mainly focus on repairing the K line.

The trading market is risky. This article is time-sensitive and is only used as a reference for a certain stage of the market.

Bitcoin enters the final moment of halving, what should we pay attention to? ? ?

At Bitcoin block height #840000, with only 16 days left until the fourth halving, Bitcoin successfully broke through the $70,000 mark, and market sentiment has subtly changed. Faced with the upcoming halving, investors began to wonder whether the halving will happen again or trigger a new market narrative. The bulls and bears are engaged in a fierce game to compete for control over future market trends.

Tide Capital recently released a research report titled "6 Important Points You Need to Know About Bitcoin Halving", which explains the six most critical clues and judgment factors that drive Bitcoin prices.

Bitcoin is about to usher in its fourth halving, and annual selling pressure will be reduced by $10 billion.

On April 18, 2024, Bitcoin will complete its fourth halving, reducing the number of Bitcoins generated per block to 3.125, from 6.25 previously. This change will further reduce Bitcoin output and the possible selling pressure it may cause. Before the halving, the annual output of Bitcoin was about 330,000, which would bring more than $20 billion in selling pressure to the market based on a price of $65,000. After the halving, the annual selling pressure of Bitcoin will be reduced by half, which is equivalent to a reduction of $10 billion, effectively alleviating the selling pressure of Bitcoin.

Bitcoin has experienced three halvings, all of which achieved significant gains within a year of the halving.

These three halving events, which occurred in November 2012, July 2016 and May 2020, all brought about a sharp increase in the price of Bitcoin. With less than 30 days to go before the fourth halving, the market has begun to assess the impact of the halving on Bitcoin. This means that Bitcoin is likely to continue experiencing a volatile upward trend.

Bitcoin’s continued upward momentum is due to the approval of spot ETFs and accelerated capital inflows.

Since the BTC spot ETF was approved on January 10, OTC funds have been pouring in, which has provided an important impetus for the continued rise of Bitcoin. Compared with previous bull markets, Bitcoin has fewer callbacks in this round of bull market, and the callback range is not large, mainly due to the continuous influx of OTC funds. The successful experience of gold ETFs can provide a reference for Bitcoin. After the launch of the first gold ETF, gold ushered in a long bull market for nearly 10 years, with an increase of more than 400%. Compared with gold, Bitcoin has safer storage, more convenient transactions and faster transfer characteristics, so it is considered to have superior value storage characteristics. At present, the market value of gold is 14.5 trillion US dollars, while the market value of Bitcoin is only 1.3 trillion US dollars, which means that Bitcoin still has 10 times the growth space from gold. In addition, the launch of Bitcoin ETF is very popular, and the speed of capital inflow is far ahead of the gold ETF of that year.

Inscription: Bitcoin’s native innovation, halving may set off a third wave of craze

In January 2023, Bitcoin developer Casey Rodarmor released the Ordinals protocol, which enables users to embed data into the Bitcoin blockchain, thereby building NFT and token-like assets on Bitcoin, creating a new situation for the Bitcoin ecosystem. As of now, the total number of Ordinals inscriptions has exceeded 60 million. Inscriptions have experienced two booms. The first began in April 2023, when the leading token ORDI rose from $0.005 to $28, an increase of more than 5,000 times in two months. The second boom began in October 2023, when ORDI rose from $3 to $96. OKX and Binance successively launched inscription trading markets, driving more inscription assets to rise. Inscriptions are native innovations in the Bitcoin ecosystem, bringing more users and developers to the Bitcoin community, and various new applications and gameplay continue to emerge. As the next Bitcoin halving approaches, the market's attention will once again turn to the Bitcoin ecosystem, and inscriptions may usher in a third wave of enthusiasm.

Rune: The protocol is expected to be launched at the halving, and Runestone is expected to become the core asset

Runes Protocol was proposed by Casey Rodarmor, founder of Ordinals, as an improved version of the BRC-20 protocol. The protocol aims to provide an efficient, highly compatible, and highly scalable framework for issuing and managing Bitcoin assets. It is expected to be officially launched when Bitcoin is halved, and thus has become one of the mainstream concepts of halving hype.

Rune Stone is a representative asset launched by Leonidas, the founder of Ordinals browser Ord.io. The initial issuance was completed through an NFT airdrop to 112,383 Bitcoin addresses, and the current market value has exceeded US$300 million. Runestones have become a representative asset of Rune Protocol, and more and more projects have begun to airdrop to users who hold runestones. Rune stones have huge room for imagination, and future applications and gameplay are worth looking forward to. Additionally, once Rune Protocol goes online, users holding rune stones can convert them into fungible tokens. Taken together, Rune Stone has the narrative of "rune agreement", "empty investment asset", and "coin issuance expectation", and is expected to become the core asset of Bitcoin's halving market.

Meme: Blue-chip NFT mfers issues tokens, market value soars to $200 million in 12 hours

Sartoshi, the founder of the blue-chip NFT project mfers, launched the token mfercoin on March 30, and its market value soared from zero to US$200 million in just 12 hours. The white paper points out that mfercoin is a Meme currency with no intrinsic value, profit expectations or specific uses. 80% of the tokens are injected into the liquidity pool, and the remaining 20% ​​are airdropped to the mfers community.

The NFT project mfers was established in 2021. It once triggered the PFP (Profile Picture) craze in the encryption community and is a well-known blue-chip NFT project. The launch of mfercoin was spontaneously supported and spread by the community, and it took only 12 hours to achieve a market value from zero to US$200 million. Regarding the future of mfercoin, the mfers community said that 1$mfer=1$mfer.

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