The current decline in the Bitcoin network’s hashrate has fallen to levels not seen since December 2022, when the FTX crash triggered the bear market. The current real Bitcoin hashrate decline is -7.6%, suggesting that the Bitcoin price may have bottomed out.

Other indicators such as Bitcoin exchange reserves, miner position index (MPI) and Bitcoin miner reserves also show low selling pressure, supporting the view of the market bottom. Before each bull market breaks out, some small miner groups will be eliminated. At present, from all aspects, it has entered the bottom area, so the market will show a gradual and slow rise next, which is the same as the signal we see on the market.

Sony is entering the encryption industry. When large companies enter new industries, they will not work hard, but will only acquire, and then iterate and optimize the acquired companies before pushing them to the market.

Bitcoin is undergoing a convalescent adjustment. There will not be a sharp rise in the short term, nor is there the possibility of a sharp fall. I mean a fall below 58,000. So according to the current situation, it is the best time to deploy some high-quality copycats and tracks. If you miss this time, you may miss the entire bull market. Those who have deployed in the early stage must also wait patiently.

Markets are always born in despair, grow in half-belief, mature in longing, and perish in hope. -- John Templeton (Father of Global Investment)

The content of this article is intended to provide readers with concise market analysis and investment advice, not direct operational guidance. Investment is risky, so be cautious when entering the market.

BTC

BTC: Yesterday, the big cake rose and fell, and the daily chart closed with a small positive line with a long upper shadow. Although it rebounded and then fell yesterday, the closing price was still above the 14-day moving average, and the price also stood firmly above the small support of 62,500. The short-term bullish trend remains unchanged. The market outlook is expected to fluctuate upward, and the upward target of 71,000 remains unchanged. Today, pay attention to the small support of 62,500 below and the small pressure of 64,000 above. Yesterday, it was pushed up to 63,000, and if it is pushed up, continue to hold.

ETH

ETH: Ethereum fell back after reaching a high yesterday. The daily chart closed at a long upper shadow cross. Although the rising entity yesterday gave up, the closing price was above the 14-day moving average (this was the pressure line of the previous short-term downward shock), suggesting that the short-term turn to bullish is still valid. The market outlook is expected to fluctuate upward, with a target of 3800. Today, pay attention to the upper pressure of 3520 and the lower support of 3400. If you hit 3450 yesterday, continue to hold. If you didn’t hit it, you can go up again if you reach 3430 today.

Continue to pay attention to the exchange rate of 0057. Breaking above it will open up a medium- to long-term upward trend, which is very important for Ethereum.

Altcoins

STX: Stacks is a Bitcoin L2 that brings smart contract capabilities to Bitcoin without modifying Bitcoin itself. Stacks takes a pyramid approach, with a base settlement layer at the bottom (Bitcoin), then adding smart contracts and programmability layers on top of it (Stacks), and then layers on top of that for scalability and speed (Hiro’s subnets)

The market value is 3.5 billion dollars, the circulation volume is 1.465 billion, and the total supply is 1.818 billion.

STX followed the big bitcoin yesterday and then fell back. It will still fluctuate in the short term. Pay attention to the 1.9 pressure above. It will start a strong rebound in the past.

Notcoin: is a game based on Telegram, where users can earn in-game tokens by clicking on coin images. Released as a Telegram applet in January this year, it attracted more than 35 million users in just 3 months, with daily active users as high as 6 million. Notcoin is the first project to be listed on all major exchanges at the same time. In the next four years, the team will build a series of effective and automated subsystems within the Notcoin ecosystem, including competitions, influencer cooperation and governance processes. The goal is to make these subsystems work seamlessly together to create and attract value within the ecosystem. The total supply of tokens is 102.49 billion, and the circulating supply is 102.49 billion, which is fully circulated.

NOT currently looks very weak in the short term, but no matter how the K-line closes, it is fine as long as it does not break through the support. In addition, the TVL of the TON network in the TON sector has recently exceeded 680 million US dollars, and is now 680.15 million US dollars, continuing to set a new historical high. As the first game project in this sector, NOT continues to hold well.

ARKM: Arkham is a blockchain analysis and intelligence platform that provides information about real-world entities and individuals behind cryptocurrency market activities. Arkham has built a tool that allows users to search, filter, and sort any crypto transaction by value, token, time, and counterparty. Arkham has received more than $12 million in financing. It is a tool token and also an AI track. The total supply of tokens is 1.0 billion, and the circulating supply is 204.6 million.

ARKM: Yesterday we achieved our goal in one step, directly reaching the big triangle to form internal support. At this point, you can add some more positions and then hold on patiently.

JASMY: JASMY is an IoT + blockchain company that provides basic services such as data security, storage and interaction for IoT environments based on blockchain technology. This project is a Japanese project with a current market value of 1.28 billion. It is basically in a fully open state with no pressure to unlock.

JASMY: The short-term rebound momentum is insufficient, but it has not broken through the support level. Please be patient for the time being. If the mainstream is not good, it will be difficult for the copycat to recover.

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Again, at this stage, we are planning some good currencies
Believe, be interested, want to witness the strength
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