Only a small part of the time belongs to the main trading time zone of the United States, and most of the time is still in a non-working state. However, the turnover of #BTC on the chain has suddenly increased. I checked the trading volume. Interested friends can compare it. In the past 24 hours, the trading volume of BTC in#Binanceand other exchanges has increased significantly.
If it is said to be risk avoidance, the price is actually rising. This is exactly the problem of PMI we mentioned earlier. Although it shows that the US manufacturing industry has begun to decline and even below the prosperity line (below 50 is a dangerous signal), the market interpretation is that this can force the Federal Reserve to cut interest rates in advance, and there was a problem with the New York Stock Exchange today, which caused the US stock market to be unstable, so the overall situation is still in a stalemate.
From the data level, although the turnover rate has increased, it still does not involve earlier investors. Investors who hold coins in the past week are still the main force of the current turnover, and earlier investors who make profits and losses still rarely participate in the turnover. Therefore, the current support position between US$64,000 and US$69,000, which we are most concerned about, remains stable, and US$66,200 is still the gathering point for large holders with almost no changes in the past two months.
From US$71,000 to US$56,000, this price range is extremely stable, always maintaining at 350,0000#BTC #BTC . It can be said that if investors at this position do not have too large a scale of change, theoretically, the probability of a sharp drop in prices and no rebound is still relatively low.
Judging from the current stock data of the exchange, after a small increase on Sunday, there was a slow decline on Monday. Although the decline was not large, it still refreshed the lowest stock value in the past six years. This also shows that the current investor sentiment has not changed substantially, and they are still betting that the market will continue to rise. Therefore, the vast majority of investors are not interested in the current turnover, and the main turnover is still short-term investors.
