Market dynamics and capital changes:
(The data is real-time data. If there are major changes in the market in the short term, the data will be greatly biased)
The current market value is 2.598 trillion, which is 73 billion less than yesterday.
The market value of Bitcoin is 130.89 billion, which is 19.9 billion less than yesterday.
The market value of Ethereum is 391.08 billion, which is 13.92 billion less than yesterday.
The total market value has decreased by 73 billion, Bitcoin and Ethereum have decreased by 33.82 billion, and the rest is the market value decline of 39.18 billion of the altcoins.
Bitcoin accounts for 50.4% of the market, which is 60 basis points higher than yesterday. Ethereum accounts for 15%, which is 20 basis points lower than yesterday. The altcoin accounts for 34.6%, which is 40 basis points lower than yesterday.
In terms of trading volume:
Total trading volume is 124.2 billion, an increase of 17.3 billion compared to yesterday,
Bitcoin is 42.8 billion, an increase of 10.2 billion compared to yesterday,
Ethereum is 18.4 billion, an increase of 4.5 billion compared to yesterday,
Total trading volume of altcoins is 63 billion, an increase of 2.8 billion compared to yesterday,
Funds:
Total funds in the market are 153.9 billion, an increase of 1.4 billion compared to yesterday, and the proportion of funds is 5.94%, an increase of 17 basis points compared to yesterday.
USDT: market value is 106.44 billion, an increase of 20 million US dollars compared to yesterday, trading volume is 68.688 billion, and the trading volume has increased by 14.4%,
USDC: market value is 32.9 billion, a decrease of 100 million US dollars compared to yesterday, trading volume is 11.9 billion, and the trading volume has increased by 7%
Through today's data, we can see that as the market value declines, the decline of altcoins is somewhat obvious. Many tokens have lost their previous gains. In terms of market share, we can see that the share of Bitcoin has increased significantly, while the share of Ethereum and altcoins has decreased significantly, especially in the altcoin market.
However, the trading volume is still incremental. In the current decline, the trading volume has increased, indicating that the market is not simply selling, but also accompanied by the power of bottom-fishing buying. However, the decline of Bitcoin and Ethereum is in a good ratio to the trading volume, but in the altcoin market, the decline is large, but the increase in trading volume is not large. The altcoin is indeed in a pessimistic mood.
In terms of funds, the retained funds in the market increased by 1.4 billion in one day, the off-site funds in Asia flowed in 20 million, and the US funds flowed out 100 million, with a net outflow of about 80 million, that is, 14.800 million of funds left the transaction, of which 80 million flowed out of the market and 1.4 billion remained in the market.
Although the funds were in a state of net outflow, the large amount of funds retained in the market also proved that traders still had certain confidence in the future market.
In terms of data, the overall situation was not optimistic, but of course not pessimistic. In the early morning, the hawkish remarks of the Federal Reserve officials and the decline of the US stock market led to a decrease in the overall market value, but it can be seen that there is still buying power, and the market is not simply pessimistic. At the same time, although the funds were net outflows, the outflow was small, and it is very likely that they will flow back tomorrow. The large amount of funds retained in the market may just be waiting for a suitable opportunity, and this part of the funds will be re-purchased from the market to bring about an increase.
Therefore, the market is currently waiting for an opportunity. As we said earlier this week, as long as the big non-agricultural data on Friday will not change the outcome of this year's interest rate cut, the market will inevitably begin to relax its vigilance and start trading after the negative data appears. Therefore, the market has waited for the results of the data, and the rest is waiting for the risk market and even the market expectations of the US stock market to be adjusted again.
LIVE
Today's theme is still to recharge your faith. The decline of Bitcoin after the early morning surge was used by many people to create anxiety, thinking that the breakthrough would continue to fall, so many people began to panic. Today's market analysis is still to help everyone understand the market rationally.
Just like a topic that Teacher Ni talked about in the past two days, under the market, it is not necessary to be bullish and chase the rise when it rises, and it is not necessary to be bearish and chase the fall when it falls. Pay attention to the situation of resistance and support levels. Breaking through and not breaking through are two concepts, and whether the decline can fall through are also two concepts.
First look at the resistance level of the rebound:
The first resistance: 67,750, the resistance of the middle line of the daily Bollinger band. If it breaks through and stands firmly at this position, the price will return to the safe zone of the upper rail of the daily Bollinger band. You can continue to be bullish.
The second resistance is 68,500, the short-term resistance level of 4 hours, and the pressure to break through is not great.
The third resistance is 72,800, the upper line of the daily Bollinger band. If this resistance level is broken, you can see the historical high.
The key resistance level is still the situation around 74,000 brought by the upper line of the weekly Bollinger Band.
For the resistance level, everyone should be more concerned about the support level. Let's take a look at the changes in the support below, whether the price is likely to continue to fall, and which positions are more important after the fall.
The first support, 65,000, is a short-term support with strong support strength. Yes, the first support is still 65,000. If it does not fall effectively, the support situation at this position can remain unchanged for a month. Because it is supported by the monthly Bollinger Band, and the weekly EMA7 provides auxiliary support.
The second support, 62,500, is a short-term support with weak support strength. This support is provided by the lower line of the daily Bollinger Band and the middle line of the 3-day Bollinger Band. We can compare the support data of this position in the past few days. The support has obviously become stronger, but compared with the first support, it is still a weak support. We can regard it as a short-term buffer zone.
The third support, 61,300, is a short-term support with strong support strength. This position is also a commonly used support point in the recent period, but the support has weakened. Currently, the support is only provided by the golden section point of the Fibonacci retracement level. However, under the premise that the overall market is not turning bearish, the golden section support of the Fibonacci retracement level will often form a better support rebound signal.
The RSI index has fallen back to around 42, and the data is relatively neutral, so the impact is not significant at present.
At present, the price of Bitcoin has not effectively fallen to the first support, and we have not seen whether the support is strong, so we can't blindly see the short-term price drop and think that it will fall deeper. Every time the support is broken, the market situation will change, and the selling pressure will also weaken or strengthen differently. Therefore, the decline of Bitcoin from early morning to now really can't be blindly pursued.
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