#BTC The current situation of the crypto market after the continuous decline: the altcoins have fallen sharply, Asian and European funds are buying, and funds are fleeing from the United States!

Since the weekend task assigned to BTC before going to bed last night was not completed, the U.S. stock market fell again after closing, causing the overall market to shrink. Let’s take a look at what signals the market data after the decline brings us?


Market value/share:

The market value decreased by 125 billion in a single day, which is a large number. Half of it came from BTC, and the rest came from altcoins and ETH. It is a collective decline.

In terms of share, BTC accounted for 0.1% more, while#ETHaccounted for less, and the share of altcoins decreased, indicating that BTC fell relatively less during the decline, while ETH and altcoins fell more due to excessive panic. At the same time, market risk sentiment deteriorated again.

Trading volume:

The single-day trading volume reached 156.3 billion, which is a recent peak trading volume. At the same time, the increase in BTC ETH trading volume was relatively small. The largest single-day increase in trading volume came from altcoins, with the daily trading volume increasing by nearly double.

funds:
The total market value of stablecoins on the exchange increased by 200 million and is currently 163.6 billion.

USDT: The market value of the data website has not changed. The official data market value is 114.542 billion, an increase of 41 million compared to yesterday. The decrease in the market value of the data website indicates that some funds have participated in the transaction.

At the same time, pay attention to USDT trading volume. The single-day increase was 97.39%, nearly doubling the trading volume. A large amount of funds were involved in the transaction, which was extremely active.



USDC: Data URL market value decreased by 92 million, official data updated
As of Thursday, August 1, weekly funds increased by -900 million US dollars and monthly funds increased by 400 million. In other words, there was a short-term outflow of 900 million funds in the past week, which is consistent with the decrease in USDC market value we obtained previously. At the same time, this is only the data until Thursday. From Thursday to now, it is expected that funds will continue to outflow.

Its trading volume increased slightly by 22.84%, which is a normal increase in capital outflow.

Summarize:

From the decline from early Saturday morning to Saturday, we can clearly see that the decline of the altcoin has stimulated a large amount of selling pressure and buying orders. Referring to the increase in the trading volume of USDT of Asian funds, as the altcoin fell sharply, Asian and European funds bought in large quantities, causing the altcoin's daily trading volume to increase by 1 times, and the USDT utilization rate increased by 1 times.

In contrast, the sentiment of traders in the United States is obviously weak. We have been paying attention to the decrease in the market value of#USDCsince last week, and we have been able to verify today that funds have been flowing out in large quantities and at a large speed. The venture capital sentiment in the United States is worrying.

From today's data, we can conclude that there are mixed results.

What is worrying is that the risk sentiment of traders in the United States has weakened significantly, and the explosive employment data on Friday did indeed stimulate the market's risk capital outflow sentiment.
The good news is that the trading volume of the altcoin has increased significantly during the decline, the selling pressure has been released, and the buying has been effectively activated. Looking at the utilization rate of #USDT, the buyer's willingness is not low, and there has been no capital outflow.

According to today's data, the outbreak of the first wave of the market trading economic recession is still complete. If nothing goes wrong next week, the trading recession sentiment will decrease. However, the current crypto market sentiment is too dependent on the US trading time for guidance. It is estimated that the market will remain volatile next week until the short-term trading economic recession expectations are digested, and then the bullish force can continue to trigger a large-scale rebound.

PS: The rebound mentioned above is a large-scale and large-amplitude rebound. Next week's shock decline will be a grinding decline. There will be rebounds during this period, but they will not be too intense. There is a lack of effective narrative overall, but as the expectation of recession in trading weakens, the selling pressure will also weaken.

#BTC☀ #ETH🔥🔥🔥🔥