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🔹Reviews of Cognitive Society
On June 23, Bitcoin fell to around 64,000. The decline was small, but due to the long-term decline, the market's copycats dared not rebound.
The inability to rebound after such a sharp drop has made the market completely desperate. If the Bitcoin spot ETF flows out again, it is likely that Bitcoin will need a sharp drop to stabilize the market.
There is no particularly strong support level for Bitcoin at this position. 59,000 is considered average, because many institutions are selling Bitcoin spot ETFs and preparing to build positions in Ethereum spot ETFs.
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 directly predict the rise or fall of the market, 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 or 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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Arbitrum’s on-chain DEX weekly trading volume exceeds $4 billion, a 7-day increase of 33.85%
DeFiLlama data shows that the transaction volume of DEX on the Ethereum chain in the past 7 days was US$10.468 billion, ranking first, with a 7-day decrease of 19.01%, followed by:
The trading volume of Solana on-chain DEX in the past 7 days was US$9.716 billion, a 7-day decrease of 31.85%;
The transaction volume of Arbitrum on-chain DEX in the past 7 days was US$4.084 billion, a 7-day increase of 33.85%;
The transaction volume of BSC on-chain DEX in the past 7 days was US$3.696 billion, a 7-day decrease of 21.31%;
The transaction volume of Base chain DEX in the past 7 days was US$2.579 billion, a 7-day decrease of 41.67%.
In-depth interpretation: Cognitive Society also doesn’t understand why ARB’s trading volume is half of SOL’s, and the decline is shocking.
📍Interpretation of Cognitive Society: ARB’s price and value do not match.
Report: Bitcoin long-term holders began to reduce their holdings in January, while Ethereum long-term holders accumulated
According to a recent report by IntoTheBlock, data shows that while long-term Bitcoin holders began selling in January, long-term Ethereum holders are still accumulating. This is in stark contrast to its behavior in the previous cycle, when the latter's behavior was very similar to that of Bitcoin holders.
Currently, 27.5% of Ethereum's total market value is in the staked state, of which 16.3% of the staked ETH is re-staked through protocols such as EigenLayer. This highlights the strong demand for native returns among ETH holders. In addition, long-term holders may be waiting for the approval of the Ethereum ETF and a record high before deciding to sell.
Additionally, long-term holders may be waiting for the Ethereum ETF to be officially approved and for it to hit new all-time highs before deciding to sell.
📍Cognition Society Interpretation: Ether buying is getting stronger, but if everyone waits to sell...
BlackRock, Grayscale, and MicroStrategy are the top three companies holding Bitcoin in the world
HODL15Capital listed the top ten companies holding Bitcoin worldwide as of June 22, including:
BlackRock (IBIT): 305,614 BTC;
Grayscale (GBTC): 277,067 BTC;
MicroStrategy (MSTR): 226,331 BTC;
Fidelity (FBTC): 167,375 BTC;
Tether: 75,354 BTC;
ARK 21Shares Bitcoin ETF（ARKB）：46335 枚 BTC。
📍Cognition Society Interpretation: Bitcoin Spot ETF Controls the Price of Bitcoin
🔹Summary: If the Bitcoin spot ETF continues to outflow, it is estimated that it will be difficult to stabilize. After repeated declines, there will generally be a sharp drop. Every sharp drop 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 of the 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: 63000 61000
Pressure level: 65000 66000
🏷Ethereum
The rebound is weak and needs a bottom test
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: 3530 3600
Support: 3450 3400
🏷LINK
I overestimated their bottom line. 14.8 is all suppressed.
New value, new RWA leader, the plunge can be configured, Cognitive Society 22 23 5 layout LINk
🏷 him
Very strong sideways fluctuation around 10
Pressure level: 10.4 11
Support: 9.3 8.6
🏷️BLUR
I thought 0.3 was the pressure point, but I didn’t expect that
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: 1.7 1.6
🏷️
The lowest level of 24.8 is close to the support level of 24 as stated by the Cognitive Society.
The highest point of 27.4 is consistent with the pressure point of 28 31 in yesterday's cognitive society article
, 28 31 is a strong pressure point
24 support level
🏷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 indeed the lowest point and a strong pressure point. If it falls back to around 0.3, it will be an opportunity.
Although there has been a big rebound in copycat products, 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?
