Summarizing the recent market and reflecting on the operation, BTC has dropped to 95,700, where is the bottom?
Yesterday, with the plunge of the US stock market after the opening, Bitcoin also fell below 96,000, and the spot price was as low as 95,700. The reason must be the macro pressure from the US stock market and Bao. ETF data is shown below. On December 19, the Bitcoin ETF had a net outflow of 671 million, and the Ethereum ETF had a net outflow of 60.5 million. No one bought Belle this time, but it did not flow out. The others were all flowing out. FBTC flowed out more than 200 million yesterday. This should be a turning point in this bull market. The first large-scale net outflow of ETFs.
Yesterday, another 1 billion US dollars was blown up, of which 900 million were long orders. This time, it should be almost cleared.
The Trump encryption project WLFI team currently has 15,597 ETH, with a total value of 53.46 million US dollars, which is its largest holding asset. The average price of the 8,827 ETH purchased actively was $3,678, and the current floating loss is about $2.1 million. Although he is buying, there is a problem. His project expenses are all raised, which means they are free. What exactly this project is for has not been announced yet. Why choose to invest in this way? Is it just to become a weather vane? The purpose of this project is to disclose a transparent address for everyone to follow orders, and finally the profit will be distributed to the WLFI shareholders? The key is that all these purchases are trapped, and no one is profitable. What kind of trick is this? I haven't figured it out yet, maybe it will gradually be unveiled with the subsequent project progress.
I won’t share the on-chain data with you. I’ll say that it’s still LTH’s profit margin and supply distribution to
Market Interpretation
Today’s lowest point is 95700. Structurally, the big cake has broken the short-term upward trend. Once this two consecutive negative K-line combination comes out, it can basically declare a stage top. Then 108000 should be the top of this month or even next month. There will be fluctuations in the future. It is impossible to go down directly at once. There will be another second top or right shoulder, but the head should be confirmed. The pressure of the subsequent rebound at this position is a little more than 99000, and the next support is 94000-95000. There may be a technical repair rebound at the weekend, and it may continue to hit a new low next week.
