Two interesting things happened in the market. Record them and see what happens?
The biggest news in the market these days should be the disposal of Ftx assets and this week's macro news super week (CPI, unemployment rate, inflation rate, etc.). From the information itself, it is not good news for the extremely non-smooth market. The market needs to face the selling pressure of FTX shitcoin bags and macro uncertainties.
But the interesting counterintuitive thing happened unexpectedly as expected.
1. The buying of BTC in the US time zone is ahead of the Asian and European time zones. The behavior of the US time zone is understood as the leading behavior by the market (interested friends can refer to the price performance of Bitcoin corresponding to the behavior of the three time zones at 0615)
2. Last night, after Bitcoin reached a price of around 25,600, for some reason a large amount of short positions were closed in the market, causing the price to quickly recover after another spike. However, judging from the liquidation pool, a large amount of around 24,000 has been accumulated over the past three months.
So the question is, why is the large short position being closed at this position, instead of the obvious answer: 24,000?
What are the spots worth paying attention to this week?
Varieties worth paying attention to recently
1：Alpine
The price around 1.95/2 can be considered. Reasons: the news is favorable. On September 15, Bian invested in sponsoring a car race, which may bring about a market trend.
2：BNX、MBOX
The game projects invested by Binance will have favorable news around September, so continue to hold on to those you bought before.
3: zbc
I discovered this coin a few days ago. The market fell sharply, but I hesitated and didn’t give any warning. It is very resistant to the fall. The V return at the bottom of 8.18 was 20%. The main network has just been launched. It is used in the payment track. The long-term K-line is at the bottom. It is favorable and undervalued. If it can pull back, it will be a good opportunity. It can also give you the opportunity to ambush. Hold it for a while.
ps: TOKEN2049 will be held from September 13th to 14th, Singapore F1 will be held from September 15th to 17th!
Binance made a lot of moves in September, including many signs pointing to mid-September. Combined with the market's shock consolidation from August to mid-September, the market rebounded in October at the end of September. There is a market in October every year, with a decline and bottoming out from November to December, a pullback in January, a decline in March, and a bull market in May.
The copycats are basically following the trend. If there is no profit effect, they will be cut. Speculation means quitting when the going gets good, unless there is a strong application, the main force has been working, and the positive factors continue to increase, so you can pay attention to it for a long time. If it falls sharply, it is easy to return to zero, but when the market comes, it will also rise sharply. Risks and opportunities coexist. Participate in self-risk control, which is speculative.
Will $200 million worth of FTX assets be liquidated on September 13?
Is this actually a problem? If you still think that there will be a lot of selling pressure entering the market on September 13 after reading this, I think you may not be suitable for cryptocurrency trading. Why do you say that?
Because the FTX token sale case is expected to be submitted to the Delaware Bankruptcy Court for trial on September 13. Did you see that clearly? It is submitted for trial. Let’s not talk about the things that were rejected before. Let’s talk about this time alone. Let’s not talk about the US judicial system, even if the sale of FTX’s assets is approved on September 13, it will not be executed immediately on September 13! Why?
Because there must be a process, where can those coins be sold? This is not a game of house. You say you can sell them in the secondary market, but you are selling them at a low price. How many compliant exchanges are there in the United States? Do these so-called coins that are ready to be sold have them in these exchanges? Even if some coin exchanges have them, is their depth enough to take over these coins? If the FTT market with a market value of US$200 million has a market depth of only US$10 million, who will pay for the remaining US$190 million?
You said Binance has enough depth. Will the SEC or CFTC approve you to sell on Binance? There will be an underwriter to handle it. So even if they agree to sell FTX's assets, it may take some time to process. This time is probably calculated in "months". Even if they approve it, what if they don't? Right?
The US judicial community understands the cryptocurrency market better than most of our friends here, and they all understand the rules and regulations. Don't judge by assumptions. Those who exaggerate such remarks and directly forward them without analysis are either stupid or bad. Or they just want to be famous.
Let's take a step back and say that they are going to sell these coins on the 13th. If you think about it, 80% of the people in the entire cryptocurrency market know about it, what should the price reaction be now? A lot of short positions have been emptying out long ago. Both CME and BITI have started to move, not to mention the spot market. Short-term operators have already started to clear their positions, but in fact BTC is still at $26,000. This news came from the United States. We knew about it on September 4th. It has been a week now. Is it too late?
