#MarketSentimentToday #币安合约锦标赛 #德国政府转移比特币 #非农就业数据即将公布
Hello everyone, I am Ali, from Wujie Club. Wujie Club is a crypto community club focusing on primary projects, secondary transactions, airdrop tutorials and on-chain capture. The club provides market analysis, trading strategies, the latest airdrop information and project investment opportunities, and is committed to helping club members obtain comprehensive information in the Crypto field.
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The $53,000 mark is breached, and Bitcoin may continue to fall
Bitcoin could drop to $50,000, but a strong macro environment and an entrenched “buy the dip” mentality will quickly rebound BTC’s price. On July 5, Bitcoin’s price plummeted to $53,600, the first time the digital asset has touched this price point since February of this year.
Much of the selling pressure stems from concerns about repayments to Mt. Gox creditors, which is expected to result in an influx of about $8 billion worth of BTC into the market in July. The current market is likely to remain weak in the short term due to a lack of catalysts to drive prices higher. Potential catalysts include bargain hunting by investors and approval of an ETH ETF, which could help improve market sentiment. Bitcoin is currently under tremendous selling pressure and collides with an already cooling market. Although macro conditions remain positive in the long term, prices could test $50,000 in the short term and could even fall further. Currently, $52,000 has become a key price level that is fiercely contested by both long and short sides of the market.
However, despite the bearish short-term outlook, Gilbert still offers reasons for long-term optimism for investors. He said: "We expect catalysts such as the Fed's rate cut in September and the possibility of another rate cut in December to boost prices. In addition, the full acceptance of the Ethereum ETF by the U.S. Securities and Exchange Commission (SEC), which is expected to be released in July, will have a huge positive impact on the crypto market."
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The truth behind Bitcoin price breakout and downward trend
The Bitcoin market has recently experienced a deep correction, with prices falling from a high of $60,000 to a two-month low of $56,952. Ethereum has also followed suit, and the entire cryptocurrency market has shown a general downward trend. The market liquidation amount is as high as $207 million, with a large proportion of long orders. Supported by multiple positive factors such as "halving + ETF + election", the market has different views on the reasons for the correction, but the truth is: First, the German government sold Bitcoin. At the beginning of this year, the German police seized 50,000 Bitcoins related to the operation of pirated websites. These Bitcoins began to be transferred and sold in June this year. So far, about 9,600 have been sold, and about 40,359 remain. These selling actions may have had a certain impact on the stability of the cryptocurrency market.
Secondly, the issue of huge compensation by Mt.Gox has once again attracted market attention. The BTC and BCH repayment work originally planned to start in early July has been tested with small transfers on July 4. Although this incident has not directly led to a large amount of selling pressure, the market has already seen selling behavior in advance, which has had a negative impact on investor confidence.
At the same time, the fund flow data of Bitcoin spot ETF also shows the market's concerns. After five consecutive days of net inflows, net outflows occurred for the first time on July 3, with a total of 20.4495 million US dollars. This data change is closely related to the price trend of Bitcoin. In the past, the price of Bitcoin rose when there was net inflow, and fell when there was net outflow. At present, the large outflow of ETF funds has further exacerbated the market's concerns.
Today's recommendations are LTO, APE, ACH, and YGG.
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LTO
LTO coin, also known as LTO Network, is a cryptocurrency that is backed by blockchain technology. The maximum issuance volume may reach 500 million, and the circulation rate (the ratio of the number of coins in circulation to the total issuance volume) is high, reaching 85.88%. The current price is 0.0938 US dollars.
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APE
APECoin is a cryptocurrency that is closely related to the Bored Ape Yacht Club (BAYC) ecosystem. Launched in 2022, APECoin runs on the Ethereum platform and is the official token of the BAYC ecosystem. It is used for governance, purchase, and use of NFTs, showing a certain degree of activity and investor attention. The current price is $0.67.
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BUT
ACH coin (Alchemy Pay) is a cryptocurrency and the official token of the ecosystem. Alchemy Pay is a decentralized payment network that aims to provide users with a faster, safer and more convenient payment experience. Investors can participate in the governance of the Alchemy Pay ecosystem by holding ACH coins and enjoy corresponding rights and benefits. The current price is 0.0181 USD.
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YGG
YGG coin, also known as Yield Guild Games, is a cryptocurrency associated with the blockchain gaming ecosystem. It is part of the Yield Guild Games ecosystem, which aims to provide revenue opportunities and social experiences for blockchain game players. Holders can participate in the governance and voting of the Yield Guild Games ecosystem to influence the future development and decision-making of the project. The current price is $0.389.
Club Recommendation Review
1.【acre】
Akro, as a leader in the Defi sector, has recently topped the list of gains again. Recently, many currencies in the Defi sector, such as Beta and Lever, have emerged and occupied a prominent position in the list of gains. For Akro, a small-cap currency that has no contracts on BN, our team gave a clear holding suggestion in the afternoon survey, that is, buy at around 0.0047. Soon after, Akro ushered in a wave of rapid growth, and the current price has climbed to 0.0056, an increase of more than 15%. We have once again successfully grasped the pulse of the market and accurately captured the hot spots.
2.【RAY】
Like AKRO, RAY is also a token project on Binance that only has spot but no contracts. As expected, this type of token is the easiest to rise, and you can also look for potential targets to ambush in this way. The club found that RAY has been consolidating at the bottom for too long and has signs of rising, so it chose to ambush. It is recommended to open a position at 1.5, and the highest rise is 1.81, an increase of more than 20%.
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