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🔹Reviews of Cognitive Society
Bitcoin rebounded from 64,000 to 66,400 in two days on June 20, but a small negative news instantly dropped back to around 64,400.
The apparent reason is a small negative in the US non-farm data. The number of people applying for unemployment benefits was 238,000, while the actual number was 235,000. The apparent reason is that the data affects the timing of the interest rate cut, but in fact it has nothing to do with it.
Problems in the cryptocurrency world:
First: Binance has listed 2 new coins. The water in the pond has not increased, but there are more and more crocodiles every day. On a hot day at noon, fish are dying of thirst. The core reason is not the sun at noon, but the lack of water.
Second: The expectation of interest rate cuts is in September and November, and there is no incremental funds at all. For so long, institutions only buy Bitcoin and do not buy altcoins at all.
Third: The circulation rate of new coins and many coins is too low. A large number of unlocked chips are dumped in the market. SUI can actually start trading with 5% circulation, and then it has increased by 7 times. You should know that there are still 20 times more coins to be sold slowly. Those who take over at high prices may not be able to get out of the trap even in a 25-year bull market.
Fourth: SOL TON’s market value occupies most of the money of the cottage. If SOL 450 billion is replaced by a cottage with a market value of about 100 million, it can make the cottage with a market value of 100 billion quadruple.
The solution:
First: Ethereum spot ETF in July, August and September; Ethereum is more related to altcoins;
Second: Even if the U.S. dollar rate is cut in November, it will only be five months;
Third: The J4J scheme proposed by the founder of JUP will be the savior of the copycat bull market. Many unlocked coins will be directly reduced and cancelled. Reducing the release amount will be the future of the market.
We cannot change the decisions of industry interest groups. One day, a disruptor will emerge to re-establish a new order.
There is still some time before the Ethereum spot ETF is open for trading, so every time there is a sharp drop in Ethereum, it is the first thing to consider.
🔹The K-line spirit of cognitive society
Many new fans feel that the articles of Cognition Society do not have direct bullish or bearish opinions, which affects the chances of making money by playing contracts. The principle of Cognition Society is to play more spot in a bull market. We do not over-judge the rise and fall of short-term prices. This is not Tai Chi, but Cognition Society has its own principles.
Cognitive Society does not know when Bitcoin will plummet, but we remind ourselves that every time Bitcoin plummets, it is an opportunity. We enter the market when Bitcoin plummets and deploy our favorite Ethereum UNI and hot altcoins.
Therefore, if you hold 8 layers of positions, you should control your positions to around 7 layers when Bitcoin accelerates its rise. In the bull market, don't fantasize about shorting your positions every time Bitcoin plummets.
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Lookonchain monitors that the Bitcoin holdings of nine US ETFs decreased by 1,290 BTC (about 83.7 million USD) today. Among them, Fidelity alone decreased by 1,290 BTC, and now holds a total of 168,862 BTC (about 10.95 billion USD). It is worth noting that BlackRock and Grayscale have not yet updated their Bitcoin holdings.
📍Cognition Society Interpretation: Grayscale is selling Bitcoin.
Stablecoin issuer becomes the world's 18th largest holder of U.S. debt
According to data tracked by Tagus Capital, stablecoin issuers currently hold more than $120 billion in U.S. Treasuries, making it the 18th largest holder of U.S. Treasuries in the world, surpassing major current account surplus countries such as Germany and South Korea. Data shows that Tether Ltd, the issuer of the dollar-pegged cryptocurrency Tether (USDT), alone holds about $91 billion in U.S. Treasuries by market value, while Circle, the issuer of USDC, holds $29 billion worth of short-term U.S. bonds (including repurchase agreements).
📍Cognition Society Interpretation: Stablecoins will become a separate industry.
MicroStrategy purchased approximately 11,931 Bitcoins between April 27 and June 19
On June 21, MicroStrategy announced that it had acquired an additional 11,931 bitcoins at a price of $65,883 per bitcoin between April 27 and June 19, with a total value of $786 million, by using proceeds from convertible bonds and excess cash. This acquisition brings the total number of bitcoins held by MicroStrategy to 226,331.
As of June 20, MicroStrategy's total investment in Bitcoin was approximately US$8.33 billion, with an average purchase price of approximately US$36,798 per Bitcoin.
📍Interpretation of Cognitive Society: Over-purchasing by a company is really not a good thing. If something goes wrong in the future, it will cause historic damage.
🔹Summary: If the Bitcoin spot ETF continues to outflow, it will be difficult to stabilize. Every plunge in Bitcoin is an opportunity for Ethereum to enter the market
There is no destructive negative news. Bitcoin 56600 is likely to be the bottom area of the third historical bottoming out.
May 2024 is the mid-term bull market for Bitcoin and Ethereum. Every plunge is an opportunity. Long-term K-line research focuses on Ethereum UNI OP NEAR BLUR and Link Bread.
🔹Short-term data
Disclaimer: The K-line data analysis provided by Cognitive Society is based on data analysis, does not represent any position, and does not confiscate any project party a penny.
🏷Bitcoin
Support: 64000 63000
Pressure level: 66000 67000
🏷Ethereum
The sharp drop to the highest level of 3620 is consistent with the pressure level in the article of Cognitive Society yesterday and is consistent with expectations.
Ethereum has the protection of Ethereum spot ETF. Even if Bitcoin plummets, Ethereum's 3000 is still a super strong support level.
If the Ethereum spot ETF is traded in August, there are still 2 months left
Focus for the next six months
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 3600 3660
Support: 3480 3400
🏷LINK
The highest value of 14.8 is consistent with the 15 mentioned in yesterday's article as the first threshold.
14.8 is a small pressure point, 16 is a strong pressure point
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
The price is almost double that of April 14th, which is already very good
Pressure level: 10.4 11
Support: 9.3 8.6
🏷️BLUR
0.23 is unable to rebound...................
Cognition Society believes that BLUR is below 0.38 and some long-term investments should be allocated in batches
🏷OP
2 unexpectedly changes the pressure position
Cognition Society was the only one who reminded us to upgrade Cancun when the OP bottom was around 1.3.
Pressure level: 2 2.1
Support level: 1.8 1.7
🏷️
The highest point of 27.6 is consistent with the pressure point of 28 31 in yesterday's cognitive society article
, 28 31 is a strong pressure point
24 Master and Second Bedroom
🏷ARB
The bottom is reached once a month, and the reasons are the same every time
Cognition Society believes that the layout below "ARB" 1 is carried out in batches
🏷CRV
0.36 is a strong pressure point. If it falls back to around 0.3, it will be an opportunity.
Although the copycats have rebounded, the significance of the update is not great, and most of them have not reached everyone's cost.
🔹Understanding attitude towards making money
Cognitive Society does not like hindsight
I don’t like those KOLs who claim that they can make a lot of money.
If someone in the cryptocurrency circle could profit from the rise and fall of every coin
Leverage is not about making 10 billion a year
But the second largest exchange on earth saw the market makers manipulate the market, and it only lost billions and went bankrupt.
Form your own trading system and make money within your own cognitive scope. Don't fantasize about making money from every daily rise and fall, let alone the rise and fall of every coin. This person does not exist on the earth, nor does this kind of organization. If such an organization existed, FTX, the exchange that looks after the main backstage, would not have gone bankrupt.
Desire and ability are not equal
The heart can never be at peace
How can you hold on to the coins if you are not calm inside?
Many people always like to rely on other people's promises and guarantees to hold on to their coins when the market crashes.
Banks are going bankrupt. Even some big countries’ fiat currencies are going bankrupt. Evergrande and Zhongzhi Group are bankrupt with tens of trillions of dollars.
Do you think people who promise returns can be trusted in such a high-risk place like the crypto industry?
The charlatan is just talking nonsense. As for the real crash and bear market, have you ever seen those people who promote the bull market every day?
