Let the data speak: Today's summary, the decline began to increase in volume, when will it be the bottom!
In the downward trend of Bitcoin today, the decline of the cottage led by Ethereum was the most obvious, resulting in the increase of Bitcoin's share in the market to 51%, and the market risk sentiment decreased.
In terms of trading volume, whether it is Bitcoin, Ethereum or cottage, basically began to increase in volume, in line with the downward trend, the large-scale decline represents the active short-selling force, and it is also accompanied by the activation of some bottom-fishing forces. The mainstream stablecoin transactions also increased significantly, and funds began to become active.
In terms of funds, the retained funds on the market decreased by 200 million, and the net outflow of the market was 58 million. Among them, Asian funds continued to flow in, but the frequency of funds in and out increased, and Asian funds also had emotional instability.
US funds continued to flow out. Looking at the timeline, they obviously began to flow out before the US stock market, until after the US stock market, a small part of the funds returned in the short term and then flowed out again one after another, and the overall fund sentiment was biased.
Yesterday we said that we need to determine whether the current effect of the US stock market on the crypto market is driven by positive emotions or negative short-term capital absorption. The US stock market has been sucking blood for two consecutive days. In the short term, it is a negative effect.
The large-scale decline means that the short-selling sentiment is slowly being released, but when the decline and shrinkage can bottom out, even if it is a short-term bottom, it still needs to be observed.
