The recent weather is just like the market, it has been very dull and raining. The market is dead, there are few people chasing the rise, and there are not many people who are taking profits and reducing their positions. The market sentiment is cold. This phenomenon is caused by the influence of contract trading. If there were no contracts, Bitcoin would have risen from 15,000 to nearly 73,000. Our currency circle should be very lively, and everyone would be discussing how awesome they are and how to make money. However, due to the emergence of contracts, most people lost their way in the process of making orders and handed over their chips. Therefore, even if Bitcoin is now maintained at a high level, the cottage has been at a new low and lifeless. This is exactly the result that the dealer wants to see most, and it is also the basis for Bitcoin to dominate in the future. The current situation can be called the freezing point in the traditional market. When the market reaches the freezing point, it means the arrival of a wave of reversal.
Although there are fewer and fewer leeks, institutional investors are not idle. Both micro-strategies and ETF institutions are increasing their positions. This shows that the market capital style is changing from the leek market to the institutional market. This is a gradual process that will be completed over time. When institutions take over completely, speculators will drop sharply, and more Bitcoin will be transferred from circulation to lock-up. This can be confirmed by the price. Bitcoin remains at a high level, and the altcoins without institutions have fallen very badly.
Therefore, the process of de-leekization has the following obvious characteristics:
1. No one is trading the altcoins held by the "leeks", and the Bitcoin held by institutions is remaining sideways.
2. Although the price of the currency has increased from 15,000 to 73,000, surprisingly few of the leeks participating in the market can make money.
3. Retail investors’ funds continue to flow out (such as continuous net withdrawal of USDT), while institutional funds continue to buy (such as ETFs).
4. Institutions turn to value investment, and only a few currencies with expected value are constantly hyped, while 90% of currencies have no money-making effect.
Overall, the current wash-out and deleveraging is a good thing. The familiar formula and familiar method, as the saying goes, how can there be a bull market without scaring away retail investors! You should now have a clearer understanding of your investment capabilities and a clearer observation of the market, which coins are strong and which are weak!
Market analysis:
BTC：
It did not break through the 640 integer as expected. The market is weaker than expected. From the hourly chart, it retreated and broke through 610. If the support is broken, there is a risk of falling below 58,600.
ETH：
The expected pressure level of 3470 given yesterday has been reached. Today, we will observe the support level of 3384. If it breaks, there is a risk of returning to 3150.
Altcoins:
Several star projects will face large unlocking this month, so don’t touch the newly launched W in the near future. OMNI has seen a good increase in the past two days. ETHFI has been hit (large unlocking in the near future). OMNI can gradually stop profit, and W can stop profit at 0.45.