The Federal Reserve has started a cycle of interest rate cuts, Zhao Changpeng will be released from prison on September 29, and the SEC has approved the listing and trading of options for BlackRock's spot Bitcoin exchange-traded fund (ETF). Hold on to the spot and leave your wealth to time!
Reviewing yesterday’s market, BTC fell back after hitting a high of 64,000 US dollars. After the opening of the US stock market in the evening, it directly fell below 63,000. At 2 a.m., it received support and rebounded near 62,350. The current market is consolidating around 63,000.
The market did not fluctuate much over the weekend. It will take 2 days to recover and the direction will be revealed on Monday.
This morning, news came that the U.S. Securities and Exchange Commission (SEC) has approved options for BlackRock’s spot Bitcoin ETF. This news has not yet caused market fluctuations. Perhaps because there are not many people playing options, the impact is relatively small. The role of options is to hedge in extreme market conditions and protect spot positions.
Today's market analysis, from the K-line, BTC is in a sideways trend at the one-hour level (MACD indicator suggests that it will go up soon), a downward trend at the 4-hour level, and an upward trend at the 12-hour and daily levels (but the momentum seems to be insufficient and has entered the final stage), with an intraday pressure level of 64600 and a support level of 61530.
Both BTC and ETH have risen a bit, but why did USDT fall?
The reason why USDT fell is that the Fed cut interest rates, and RMB continued to strengthen after the rate cut! The purchasing power of USDT also fell! When the prices of commodities such as crude oil and gold rise, it is often accompanied by currency depreciation. This is because rising commodity prices may trigger inflation, leading the central bank to adopt a tight monetary policy, which in turn affects the exchange rate. In addition, when investors seek safe-haven assets, they often turn to the commodity market rather than the currency market, further affecting the US dollar exchange rate.
So USDT will fall! And it will continue to fall, but it will come back sooner or later!
The MEME sector may be about to undergo a major change
MEME is one of the main tracks that multiple ecosystems are competing for. There are many potential opportunities. There will definitely be several more MEMEs that will create a big myth! From Bitcoin inscriptions ORDI and SATS, to Solana's BOME and WIF, and Sun Ge's TRON's SUN, each ecosystem's MEME can trigger a round of public opinion and wealth creation stories!
Binance and BNB Chain have also increased their support for MEME in the past month. At this time, DODO has strongly intervened in the MEME track, with a 40% increase in one day, which deserves special attention.
In addition to DODO, the most eye-catching thing in the past two days is SUI. What do you think of the surge in SUI?
SUI has technical content. You can buy the bottom when it plummets, but you can consider shorting it when it soars. 64 million SUI worth 89 million US dollars will be released in 9 days. Stakeholders and dog dealers will use the media + KOL matrix to promote and push up the price, so that it can be released at that time for easy shipment. Therefore, consider shorting when it is close to 1.55, and set a 5% stop loss (the contract has high risk, it is only for reference analysis, and you need to make rational judgments and bear your own profits and losses).
Participate in SEI Ecosystem Coin Earning Activities and Share SEI Bonuses
I wanted to write about SEI’s pledge activity a few days ago, but I didn’t expect it to be so strong. If you have idle U or want to hold SEI for a long time, you might as well participate in the Sei ecological coin-earning activity in OKX. The stable currency not only has a high yield of 15 points, but also can share a total of up to 2,674,603 SEI rewards by staking in Yei Finance.
With the arrival of interest rate cuts, U will definitely fall in the future. After participating in this event, you can also participate in other Defi projects of OKX wallet in the future to resist the risk of depreciation.
Event deadline: October 4, 2024 18:00 (UTC+8)
App side - okxweb3 wallet - Defi - scroll the directory to find SEI ecosystem to earn coins
After entering the event page, click the arrow to learn more. The first step is to find out the two cross-chain bridges, one that can be exchanged for USDT and the second for USDC.
For example, Stargate cross-chain bridge: https://stargate.finance/bridge Select the exchange network to exchange the SEI network's USDT, enter the exchange amount and click to confirm the transaction. I just waited for more than 40 minutes to cross over, so just be patient when trading.
The second type is https://app.yei.finance cross-chain bridge. Remember to choose the sei-evm network when withdrawing money. The gas fee of this network is required when cross-chain. Just find the Bridge in the upper right corner and enter the page to exchange for USDC.
After the cross-chain exchange is successful, return to the event page, click on the subscribe button for the USDT you just exchanged, enter the subscription amount, click on the authorization button and confirm the transaction. After the subscription is successful, you can view the investment record in My Investment below. During the event, remember not to redeem easily and wait until the end of the event.
Xianxian's password today: WIF
Entry price: 1.71
Take profit target: 1.88 / 2.0 / 2.25
Stop loss position: 1.55
Recommended reason: DogWifhat is a popular meme coin on the Solana chain, and has continued to perform strongly since its launch. The altcoin market has started, and strong currencies are still strong. At present, the market has fallen back to the range, and spot trading can be involved!
Every year after the Bitcoin halving, a crazy bull market will be triggered:
The price was halved in 2012, and a huge bull market began in 2013;
The price was halved in 2016, and the market entered a frenzy again in 2017;
The halving in 2020 will usher in another round of violent bull market in 2021;
The price will be halved in 2024, and the same historical script may be repeated in 2025, ushering in a bull market feast that cannot be ignored.
Get ready for a new round of market carnival!
