Market Analysis

$BTC : Bitcoin has fallen in the short term due to the abnormal movement of the Mentougou wallet. There are a total of 142,000 bitcoins in the Mentougou wallet, about 10 billion US dollars. At present, it is a collection on the chain. If compensation really starts, there is nothing to worry about. First of all, the market volume today will not have a big problem digesting 10 billion US dollars, because there are ETFs, and the market capital volume is much larger than before. Secondly, the compensation will not be paid all at once, and it will definitely be paid in installments and batches, so even if all the market crashes, it will not be completed instantly. The compensation of Mentougou is short-term negative and long-term positive. The short-term decline will not affect the concept of trend, and the violent bull market in the second half of the year has not changed. At present, the 4-hour level needs to continue to fluctuate and adjust, and the originally opened upward channel has been destroyed again. Next, focus on the 66,000 position. If the 4-hour level falls to this position again, then the short-term will enter the decline verification support mode again. $ETH : Ethereum's trend is still relatively strong. Due to the panic caused by Mt. Gox, ETH performed better than Bitcoin. The ETH/BTC exchange rate has also been rising and has now exceeded 0.057. According to market expectations, the Ethereum ETF s-1 may pass in two or three weeks. During this period, ETH's trend should continue to rise. It will be easy to break 4,000, and even new highs are possible, so just hold on.