People in the crypto market have a very hard time. If there is something bad in the macroeconomic situation, we have to pay for it! BN was fined more than 4 billion yuan, and the market crashed by 2,000 points; the missile of the emperor has not landed yet, and we have paid for his military expenses. Just now, the news of the Iranian plane crash came out in the morning, and the market was in turmoil. 110 million US dollars was liquidated.
The focus in the short term is whether there are human factors in this matter. If not, it is estimated that after a few declarations and a small shock, the matter will be over. Assuming that there is indeed some human tricks in it and it is finally found out, a new round of bloody storms in the risk market will be inevitable.
Objectively, I think the possibility of the final characterization of the accident is relatively high. Two of the three planes landed safely, which is related to the security of a country's president. In any case, it is only an incident of two or three days. It is expected that the peak of speculation will end within three days at the latest, and the market will return to normal by then.
Last week, a total of 14,389 Bitcoins flowed into the US ETFs, and the buying was very strong. On Friday alone, 3,315 Bitcoins flowed in, exceeding 200 million US dollars. At this stage, BlackRock and Grayscale almost tie in Bitcoin holdings. Through the forward reversal of ETF data, Bitcoin will inevitably maintain a strong counterattack in the foreseeable future.
Therefore, even if the short-term macroeconomic outlook is not optimistic, the market will suffer a setback due to the plane crash, but the depth and breadth will not be as large as the previous wave of decline. The biggest role of wide-range fluctuations is to clear the tail bubbles as much as possible before the market reverses. The news is often also for the market. When it is clearly judged that there will be no new lows, the best operation before the start of a new round of main rising waves is to remain patient and wait.
The Ethereum spot ETF will be decided on Thursday this week. Judging from the current situation, it is very likely that it will not be passed this time. As I said in the previous article, this time it is not necessarily a good thing. Relying on policies to divert the funds of Bitcoin before the release of liquidity has begun may further drag down the rebound trend in the short and medium term. Of course, in the long run, the sooner it is passed, the better. Speculating on expectations can directly make Ethereum take off.
The Fed's bigwigs have been quite active recently. On the one hand, the election is approaching and the economic situation can easily affect the election, so they can't help but pay attention to it. On the other hand, in the process of considering interest rate cuts, they must repeatedly investigate the current inflation situation. As the No. 1 overlord, they must have their own characteristics in analyzing the overall situation, which often leads to contradictory conclusions on interest rate cuts and anti-inflation. However, from a cyclical perspective, all of us have highly consistent thinking, that is, we are currently in a cycle of discussing interest rate cuts, and no matter how inflation fluctuates, this axis will not change.
Based on this, it is difficult for the current market to have a sudden outbreak of negative factors. I have not done much trading for a long time. A bear market requires patience, but a bull market also requires patience far beyond the average person. To play against the banker, you either have more chips than him or you have a more stable hand than him. There is no other way.
In the altcoin sector, following the massive unlocking of AEVO last week, PYTH will also unlock a much larger amount than ever before this week, with the circulation increasing by 140% and the market value directly releasing 400 million. The project is indeed much better than most projects. The community also got three times the result on this coin before. In the short term, the project party will say that the unlocked tokens will not flow into the market, but at the moment when panic is formed, the market value must be digested. It is expected that the short-term and medium-term trend will maintain a certain negative decline, and the market will at least retrace by more than 20%.
The value of altcoins will return because of the unlocking of chips, and the risk at the end of the bull market will be infinitely raised in the future. Therefore, no matter which stage, altcoin warehouses must stop losses and must not be heavily invested in altcoins. Altcoins are all for cutting leeks. All our operations on altcoins are to take a wave within our cognition when they pull the market and cut leeks.
BTC: The trend support of Bitcoin has been confirmed, and the next wide range of fluctuations is between 64,000 and 68,000 points. For the market, Bitcoin only needs to maintain the upward channel, and the future strength can only be determined by the continuous confirmation of the bottom of the upward channel. Therefore, for Bitcoin in the short term, keep confidence and hold it patiently. It will continue to be strong and the future is promising.
ETH: Ethereum's market capitalization share has rebounded in the short term, and the technical side continues to be linked to Bitcoin. This short-term pull-up comes from the strength of bottom-fishing by large on-chain players. The weekend market is relatively sluggish, so let's continue to see how the current support level is maintained.
SOL: It is moving towards the predetermined previous high. The trend is very strong. There is limited room for short-term market correction, and this wave will continue to reach new highs.
JTO: As the largest liquidity protocol on the SOL chain, the current bullish logic of the fundamentals is also certain, and it is one of the sectors that deserves strong attention in the short and medium term.
Other cottages: To be determined.
Finally, stay away from leverage and stock up on spot goods! #以太坊ETF批准预期 #机构积极投资比特币ETF #芝商所拟推出比特币现货交易 #BTC走势分析 #新币挖矿 $BTC