Market dynamics and capital changes:
(The data is real-time data. If there are major changes in the market in the short term, the data will be greatly biased)
The current total market value is 278.6 million, which is 38 billion less than yesterday.
The market value of Bitcoin is 139.18 billion, which is 23.8 billion less than yesterday.
The market value of Ethereum is 435.88 billion, which is 2.28 billion less than yesterday.
The total market value increased by 38 billion, Bitcoin and Ethereum decreased by 26.08 billion, and the rest is the market value decline of 11.92 billion of the altcoins.
Bitcoin accounts for 50% of the market, which is 10 basis points lower than yesterday. Ethereum accounts for 15.6%, which is 10 basis points higher than yesterday. The altcoin accounts for 34.4%, which remains unchanged compared with yesterday.
In terms of trading volume:
Total trading volume is 112.2 billion, an increase of 3.5 billion compared to yesterday,
Bitcoin is 30.03 billion, a decrease of 740 million compared to yesterday,
Ethereum is 19.04 billion, an increase of 980 million compared to yesterday,
Total trading volume of Shanzhai is 63.13 billion, an increase of 3.27 billion compared to yesterday,
In terms of funds:
Total funds in the market are 155.5 billion, and the increase in funds in the market remains unchanged compared to yesterday. The proportion of funds is 5.58%, an increase of 7 basis points compared to yesterday.
USDT: market value is 106.95 billion, an increase of 110 million US dollars compared to yesterday, trading volume is 473.5 billion, and trading volume increases by 0.08%,
USDC: market value is 32.585 billion, a decrease of 15 million US dollars compared to yesterday, trading volume is 6.7 billion, and trading volume increases by 1.5%
Looking at the overall market data today, although the market value has declined, there is no need to be too pessimistic.
The main reason for the decline in market value is still Bitcoin, followed by the altcoin market driven by the decline in Bitcoin, and the decline in market value is not large, which is within normal data. Moreover, Ethereum is particularly strong and continues to maintain the growth of the mayor's share. Ethereum does show signs of recovery.
In terms of trading volume, with the slight decline in Bitcoin, the trading volume has decreased slightly year-on-year. It seems that above Bitcoin 70,000 is not a reasonable buy order range, so the current situation of the first support is more important. In this rebound, Ethereum encountered a resistance level that triggered a buy order, and today's trading volume has increased slightly compared with yesterday. As the altcoin market as a whole fell due to Bitcoin, the trading volume also increased, and the buying sentiment of the altcoin was still good.
In terms of funds, the market has resumed net inflows, with a single-day net inflow of 95 million. The Asian market has a single-day net inflow, while the US market is still in a net outflow state, but compared with the net outflow data on Monday, it is much less. As for the overall market status, the funds retained in the market remain unchanged. Today's single-day net inflow of 9,500 directly participated in the transaction.
Regarding US funds, I think the main reason is that the depressed macroeconomic sentiment has hindered the inflow of funds. We will continue to track the flow of US funds tomorrow. As long as the outflow is reduced or even turned into inflow, the impact on the market will not be too great.
Through today's data, we can clearly see that the overall market is still in a sluggish state. It seems that the current wait-and-see sentiment of US stocks on Wednesday's CPI data has directly affected the trading sentiment of the crypto market.
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Bitcoin started a rebound in the early hours of Monday morning, successfully touched the resistance level of the daily line and then fell back. It is currently stabilizing and fluctuating above 70,000. The daily Bollinger Bands are gradually shrinking. According to the current trend, as long as it stabilizes above 70,000, the probability of the subsequent daily Bollinger Bands shrinking and breaking upward will be greater.
Currently, affected by the macro-economy, the sentiment of the risk market is relatively depressed.
The short-term resistance levels are 72,300, 72,600, and 73,000, respectively from the 1-hour, 4-hour and daily resistance levels. The successful breakthrough of each resistance level depends on the next one.
To break through the daily line, we must look at the previous historical high, and then the 77,300 resistance level from the weekly line. Of course, once the weekly resistance level is about to be touched, it means that another wave of surge will come. However, the upward movement of the key resistance level also relieves the pressure on the subsequent rise in Bitcoin prices in the short term.
At present, Bitcoin has stabilized near 70,000. Let's pay attention to the support below.
Today's support situation is quite special. The technical support below forms an effective support range due to the compression of the Bollinger Bands. There will be a pin-piercing amplitude in the range.
Currently, Bitcoin is hovering near yesterday's first support, and it has effectively fallen below and rebounded again during the day. Because this support area is close to the support range below, the support effect is significantly weakened. We will temporarily ignore this support level.
The first support, 69,000-70,000, is a short-term support with general support. This support is a support range formed by different degrees of technical support brought by 1 hour, 4 hours and daily lines. Because the support positions of various technical indicators are close, we directly regard it as a support range.
The second support, 68,500, is a short-term support with strong support. This support is effectively supported by the daily 4-hour EMA200, the daily Bollinger Band middle line, the 3-day EMA7 and the weekly EMA7. The support strength is strong and is also the support level of the daily short-term trend. This position will determine whether the price will continue to fall after falling back.
The third support, 66,500, is a short-term support with strong support. This support is supported by the upper line of the monthly Bollinger Band. If the second support determines whether the short-term decline in the daily line will continue, then the third support determines the entire decline above 60,000.If the monthly support is broken, the downward pressure will be greater, and the risk of further decline will be greater.
Last week, we can see that Bitcoin did not fall below the key support level in the upper and middle levels, so the price rebounded after stabilizing.
The technical results we get are still optimistic enough. Although the price has fallen back after hitting the high support, the decline has stabilized above 70,000. In the past two weeks, most of Bitcoin was consolidating and changing hands above 65,000. Now the range of fluctuations has moved up, and fluctuations also mean turnover. As long as there is no negative impact below this position, it will be more conducive to the short-term bottoming of Bitcoin prices here. It will also help the price rebound later.
In particular, we noticed that it has become a long-term shock, rebound, and shock, and the technical support below has been continuously moving up, which is conducive to helping the price stabilize sentiment again.
The RSI relative strength index has now fallen back to 60. Compared with yesterday's position of 69, the decline in the index means that in the current short-term decline of Bitcoin, investor sentiment has been buffered. The continued decline of the index will be conducive to triggering buying power in the future market
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