BTC computing power plummeted, which was the largest drop since the "Miner 519". After the halving, miners surrendered collectively.

It is worth noting that the number of BTC active addresses hit a new low, indicating a lack of liquidity in the market.

Not only BTC, but US stocks are also facing liquidity difficulties. Last night, Berkshire A, with a market value of US$900 billion, plummeted 99% during trading. Subsequently, the New York Stock Exchange urgently announced that it was a technical problem and withdrew transactions. Affected by this, several giants plummeted, and the scene was very spectacular.

Wall Street broke the news that market makers withdrew funds, leading to this historic crash.

The transaction is generated in the pending order. It stands to reason that the farther away from the current price, the greater the depth. Laolang remembers that in 2014, BTC on B network plunged sharply, causing many people to buy BTC for $1.

But this situation is rare after all. In most cases, prices will rise and fall in a narrow range, so market makers will take out the funds for the top and bottom orders, which is equivalent to withdrawing the safety cushion. Either nothing happens, or if something happens, it will be a major crash.

Laolang remembers that during the 312 period in 2020, all the long orders disappeared. According to Laohei's recollection, it only took tens of millions of dollars to smash the market to drop BTC from 3,000 US dollars to zero. It only took a few days for the miners to go bankrupt collectively, which would be a devastating blow.

So Lao Hei’s choice was simple and crude, which was to unplug the network cable. At that time, BN and OK were all suspended. It was not until three days later that the prices returned to normal.

At that time, people said that the crypto market was a makeshift team, and when pushed to the limit, the network cable would be cut. Now it seems that the New York Stock Exchange is not much better. It is even worse than the black man and directly chose to withdraw the transaction. However, it is no wonder that the Americans are anxious. If Berkshire collapses, the U.S. stock market will also come to an end.

In comparison, BTC's liquidity has far exceeded that of U.S. stocks, making it the number one commodity.

I remember what a big guy said a few days ago: "If it's hard to make money trading on BTC, then it will be even harder on other products."


BTC：

BTC: ETF funds continue to flow in, supporting BTC. BTC moves higher along the 5-day line, and the hourly line bottom diverges and rebounds, indicating that the bulls have increased their support. The hourly line retraces to the neckline support. The $68,647 below is the key point of the bull neckline. BTC must stand firmly at $68,647 to further support the market and move higher. Next, BTC will rebound at $68,647.

Resistance: 69402, 70015, 70685

Support levels: 68647, 67946, 67315

ETH：

With the weakening of bullish volume and multiple spikes on the hourly line, ETH entered a triangular convergence trend. The $3,747 level below is the key point of the box. Only by standing firmly at $3,747 can it build a bottom and strengthen, entering a new round of bullish upward trend. Next, ETH bottomed out and rebounded at $3,747.

Resistance: 3795, 3846, 3898

Support levels: 3747, 3712, 3675