Today's important news in the cryptocurrency circle:
On July 25, the Ethereum ETF had a total outflow of 133 million US dollars, and Grayscale's ETHE had another outflow of 3.26 US dollars, but mini ETH only had an inflow of 46 million, and the rest of the inflows were also in the tens of millions. However, the Bitcoin ETF had a positive inflow, with a total inflow of 44.5 million US dollars.
In fact, it was expected that the Ethereum ETF would fall first after listing, but it was indeed unexpected that the outflow was more than that of Bitcoin. The Bitcoin ETF fell by about 20% after listing, and the Ethereum ETF happened to catch up with the decline of US stocks, which made it a bit difficult to predict the decline of ETH
Bitstamp, another creditor distribution exchange in Mentougou, has also begun to return BTC and BCH to creditors, but I think it is obvious that this wave of decline was not caused by Mentougou, but by Ethereum and the macro sentiment of the market.
At present, this wave of callback is expected. Without a long period of bottom consolidation, the spot trading volume has obviously not increased. The rise led by emotions and contracts is definitely not solid. I have not seen a new high in this wave because there are too many external factors at present, which makes the market not rush to a new high in one fell swoop. The question now is whether 63,000 can be supported. Even if it is supported, should we buy the bottom or wait for a rebound to reduce positions? Today is not the most critical day, the most critical is tomorrow. The position of 63,000 can definitely be used for a bottom-fishing, but the position must be flexible. If 63,000 is broken again, maybe we will shout out that the bears are out again.
At present, the small level has begun to enter the oversold area, so the US stock market should not fall too much before the opening of the US stock market tonight. If the US stock market opens lower today, there should be an oversold rebound, so the trend of the US stock market tomorrow night is more critical, and we can see whether it is a top structure or a callback.
I think there is a probability that the second coin will break 3100. The current bulls are too weak at the small level, and there is basically no sign of rebound, so this position should continue to move downward for a period of time, with a support level of 3060.
The strongest copycat SOL is undoubtedly stronger than the big coin. In the future, SOL will really be classified as mainstream, but since it has been classified as mainstream, it will be more difficult to remain independent. It can only be a question of strength and weakness. BTC is too expensive, ETH is too slow, and there is no reason to refuse SOL, which is cheap and rises fast.
