EMC Labs: BTC mid-term adjustment is likely to have ended, and the market rebounded at $58,400

According to TechFlow, EMC Labs tweeted that BTC fell sharply to $58,400 yesterday but did not break the low point. The enlarged trading volume showed that there was a large amount of funds taking over the selling orders in the $58,000-60,000 range. Short-term traders suffered overall floating losses, selling 28,000 BTC yesterday, realizing a loss of over $100 million. The Fear & Greed Index fell to 30, entering the "fear" range.

Based on the comprehensive technical indicators and market conditions, EMC Labs determined that the mid-term adjustment of BTC is likely to have ended, and the market will rebound at $58,400. In the extremely panic situation yesterday, 9% of the top 500 currencies have begun to rebound. These projects can be focused on in the future market.