The compensation incident of Mentougou has been a sword hanging over the heads of people in the cryptocurrency circle in recent years. Today, this sword moved, randomly triggering a wave of panic and negative expectations. The reason is that the address of Mentougou made a total of several large transfers on the Bitcoin chain today. Currently, a total of 141,686 bitcoins have been collected to the new address, worth about 10 billion US dollars. But there is no news or evidence to prove the purpose of the transfer of the bitcoins this time. It is very likely that it is just an ordinary wallet collection.

If the compensation is really opened, then this wave of supply release should be the largest "pure supply" so far. These coins have been held back for so long, I don't think they will pour out all at once, but unlike Grayscale, a large part of its supply may be turnover. These may be the real "dumping" supply. Whether the market can take it, whether there will be a 519 incident, these are all questions, but one thing is certain, after this black swan lands, there will be no negative news, maybe it is what everyone calls a big bull.

Bitcoin ETF has no data update today because the US stock market was closed yesterday and there was no trading flow.

Both Bitcoin and Bitcoin have joined the ranks of US stocks. Will there be more altcoins joining the ranks of ETFs in the future? The answer should be no. Among the top 10 cryptocurrencies in terms of market value, SOL is the most likely one at present, but the SEC's view on SOL as a security is stronger than ETH. Among the top 10, I think only Dogecoin may be the most suitable target, but institutions should not push Dogecoin into the US stock market, which would be a bit ridiculous.

Data shows that the value of crypto assets held by former US President Donald Trump has increased significantly, and now exceeds US$10.1 million, including:

579,290 TRUMPs, equivalent to US$7.3 million;

463.35 ETHs, equivalent to US$1.81 million;

11,989 USDCs, equivalent to US$120,000.

This should all be sponsored by crypto practitioners, but the most ridiculous thing is that most of them are MEME coins named after him, so there is a certain logic that MEME will rise. The election date is still far away. If he is really leading in the vote, it should continue to rise.

Market Interpretation

Today's movement in Mentougou broke the originally good upward trend. Now it is necessary to re-enter the support range to build a larger trend. From the current situation, this wave of panic expectations has not spread too much, because it is just the transfer of tokens and there is no other follow-up.The daily level of the upward trend is supported at around 66,000, so it is still possible to think in a bullish way. Today, the U.S. stock market opens. Let's see if ETF can digest today's panic expectations in the evening.

The second cake should have been killed by mistake today, and the decline is relatively limited. As long as Grayscale is not listed, it is a good strategy to continue to develop the second cake according to the bullish thinking.

The copycat just rose today, and was immediately beaten back to its original form. Some new projects that have been criticized for listing and circulation and have a large market value of "not taking over each other" have performed well recently. They should have been silent for too long and bottomed out. The overall trading volume of the currency circle today is much greater than in the past, and the strong one is still the MEME sector. This NOT is the only fully circulated and listed project recently. Backed by TON, it is also interesting to follow the trend in the currency circle. The project party is always criticized for shouting leeks to solve the market. Then I will play something different for you this time, and the different ones are indeed paid by people.

Today's panic greed index: 72 (greed)

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