This Wall Street institution went crazy and invested $7 billion. These statistics in the cryptocurrency circle are really shocking!
So will Bitcoin rebound next? Is it time for Pepe and People to get in now?
Be careful! Another unemployment data from the United States is out tonight. It was a huge positive last time, so will it surge again this time? Let's follow Shuqin to find out.
First of all, the question that everyone is most concerned about is how the smart money in the cryptocurrency circle is operating now? Should we enter the market now? Let's take a look at the picture.
The picture shows the holdings of long-term Bitcoin holders. They can be said to be the smartest group of people in the cryptocurrency circle. You can see that whether it was in 2017, 2021 or the beginning of this year when the price of the currency was high, they always sold off their positions at high prices, often selling nearly half of the coins to retail investors, which is really amazing.
But now the situation has begun to reverse, and the holdings of these smart money are starting to increase again.
This can only mean one thing, they believe that the current price of more than 50,000 Bitcoin and other currencies are at low prices, so these people are now buying them back at low prices after escaping from the previous highs.
In fact, if we compare the positions of long-term and short-term coin holders, you will find a lot of problems.
Smart money often sells when the price of the currency is at its highs in the previous few times, while short-term investors buy at every high. This is actually a wealth transfer movement, and the smart money is obviously cutting off the retail investors.
Now retail investors are desperate and start to doubt their lives, and are constantly selling their coins. But look at the smart money, isn’t it just picking up the chips of the retail investors? When the bull market comes, retail investors will rush in to buy 150,000 bitcoins, and the higher they go, the more excited they will be. At that time, the smart money will raise its sickle again and cut off these people who chase the rise and sell the fall.
Therefore, we cannot just look at the exchange’s comprehensive net inflow and outflow data, but we must analyze them separately to see what long-term coin holders are actually doing.
Another very noteworthy signal is that Tether finally ushered in a large amount of USDT issuance again after 3 months, up to 1 billion US dollars, which is a very obvious signal of institutional entry. Shuqin notified everyone in the community at the first time, and sure enough, BTC rose to 61,500 afterwards.
After looking at the macro picture, let’s look at some more specific on-chain data.
Wall Street giant Cumberland can be described as going all-in today. After receiving hundreds of millions of U from Tether in the early morning, he frantically transferred U to Binance, OK and Kraken platforms to enter the market. It seems that he is going to make a big purchase, which directly confirms a famous saying in the currency circle: Others are fearful, but I am greedy.
In addition to Bitcoin, many other mainstream currencies are also about to start gaining momentum.
For example, Binance announced the launch of a new round of BNB mining. This time it is quite interesting. The coin being mined is Ton, the king of coins. And it is definitely a huge investment. The total mining amount is as high as 7.6 million coins, or 50 million US dollars. It is really rich and powerful.
I think when the market situation improves, BNB will start the weekly mining feast again. After all, there has been basically no mining in the past few months, and many projects have been held back.
After the weekly mining starts, I think the price will continue to surge. Zhao Changpeng will also return at the end of September, so Shuqin is optimistic about BNB's future performance.
In addition, I have analyzed Pepe, Floki and WIF, these local dog coins, many times before. They all plummeted in a bear market and soared in a bull market.
The increase is usually 3 to 5 times that of mainstream coins, so don’t wait for it to rise before chasing highs. Now is the time when no one is interested. I think you can stock up some spot during any pullback.
Speaking of Meme coins, People recently had a short-term wave of popularity. Trump returned to Twitter and had a symposium with Musk, so People soared a lot, and then all the good news was exhausted and it began to plummet.
Hey, I wonder if you have discovered any business opportunities?
Every time Trump has a big event, election coins like People will see a strong short-term pull-up, so everyone should pay more attention to Trump's dynamics, such as the next debate between the two factions. People should start to rise sharply two weeks in advance, and then take all profits on the day of the good news, or even short at a high point. This is all free money.
In addition to the chain, exchange data is also very critical.
At present, Bitcoin has basically fallen to the right level. You can try to go long. The chances of winning are very high if it reaches around 60,000. You can stop loss if it falls slightly below the support level of 56,000.
As for the exchange Bitcoin clearing data that Shuqin has analyzed so far, the market makers induced shorts to clear shorts, allowing everyone to go long again above 58,000 instead of shorting. As a result, Bitcoin started to soar in the early hours of last night and flew to 61,600. The 2.5 billion short orders became fuel for the rise, so it can be seen that this data is really very useful.
In addition, we can clearly see the overall data on the chain and the entry and exit of individual institutions. Adding the exchange data, it is like opening a God's perspective! So if you are interested, you can come and have a look. We update the operation every day~
Okay, let’s continue.
The unemployment data at 8:30 tonight is even more important. Last week, this data was positive, and Bitcoin rose directly from 57,000 to 62,700. The previous value of the number of first-time unemployment benefit applicants was 233,000, and the market expectation was 235,000. The previous value of the number of continuing unemployment benefit applicants was 1.875 million, and the market expectation was 1.87 million.
The market is mainly looking at the number of first-time unemployment benefit applications. If it is lower than expected, it is a good thing, otherwise it is bad news. Shuqin will report this data to everyone as soon as possible at 8:30 tomorrow night. I hope everything goes well!
Finally, don't forget to click on my avatar and vote for my creator competition. You will also have a chance to get a 5u red envelope. Thank you everyone. ^-^ @分析师舒琴
