Market Analysis
After the US cut interest rates, China also cut interest rates and released 600 billion RMB into the stock market. BTC also broke through to 66,000. At present, the previous high point will be around 68,300. October is coming soon, and the monthly line will generally have a high-low correction. Therefore, the monthly line in October is likely to have a small correction, and the position will be between 58,000 and 61,500, which will be a good entry point.
Hot Events
CZ (Changpeng Zhao), the founder of Binance and an important figure in the crypto industry, also came out today, which will have a wide-ranging impact on the entire cryptocurrency market. Specific currencies that may benefit include:
BNB (Binance Coin): As the core token of the Binance ecosystem, BNB will directly benefit from the return of CZ. The restoration of market confidence in Binance will drive up the price of BNB.
BTC (Bitcoin) and ETH (Ethereum): These two cryptocurrencies, as the cornerstones of the market, usually fluctuate with the overall sentiment of the industry. If CZ's release from prison brings positive sentiment, BTC and ETH may also rise as a result.
Launchpad Project Tokens: Project tokens on Binance’s Launchpad platform, such as the recently launched popular tokens, may be favored by the market due to the return of CZ and the recovery of Binance activities.
Liquidity provision and staking of related tokens: As trust in Binance recovers, users may increase liquidity provision and staking on the Binance platform, and related DeFi project tokens may profit as a result.
Meme coins and altcoins: If market sentiment improves significantly, funds may overflow from mainstream coins to small-cap tokens, which usually see larger gains when the market is active.
Overall, CZ’s return will enhance market confidence, especially trust in the Binance ecosystem, so Binance-related tokens will benefit the most.
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Club VIP Recommendation Review
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