Last night, Buffett’s Berkshire Hathaway Class A shares plummeted 99.97% due to technical problems with the exchange. The bitcoin price, which was supposed to officially reach $70,000, fell due to risk linkage, and the crypto market was wailing. After the stock fell from $620,000 to $185, Sanshu saw some extreme speculators quickly traded 46 shares at the bottom of $185.
The New York Stock Exchange immediately intervened technically, and the stock returned to its original price range of $620,000 in a short period of time. The profit of this speculative player's account from the 46 shares traded directly reached nearly $30 million, with a price-earnings ratio of 3,300 times. Later, the New York Stock Exchange rolled back the data, and all transactions of the stock during that period were invalidated.
30 million US dollars is a flash in the pan. I personally feel that the NYSE has fallen short. Someone should be held responsible for the technical failure, and it should not be the investors. The data of US stocks has been rolled back. The 120 million US dollars that were liquidated in the crypto market last night are actually gone!
The macro Bitcoin spot ETF had a strong net inflow of 1,521 coins yesterday, about 105 million US dollars. Yesterday, Uncle San also said that the first ETF trading day should be the focus of this week's market, which is very useful for reference. Even with such a big bug in the US stock market yesterday, the funds flowing into the crypto market were still not blocked, which largely shows that short-term and medium-term over-the-counter investors are optimistic about the long-term.
BlackRock IBIT officially broke through the market value of 20 billion US dollars today, holding 291,600 bitcoins, and IBIT became the fastest ETF product to reach the market value of 20 billion US dollars in this round. Looking at it optimistically, if the 70,000-point sprint of bitcoin last night was a new round of high point test, because the US stock market is passively downward, and under such favorable conditions of the over-the-counter macro, it is very likely that bitcoin will rise again. We may see a new round of 70,000-point step again soon.
The short-term linkage between Bitcoin and Ethereum has gradually weakened. As the news of S-1 approval stagnated, the hype of Ethereum has gradually weakened the entire Ethereum ecosystem. Therefore, we should objectively view this week’s market as mostly tentative, and the turning point of the market will still be around the middle of the month. By then, whether there will be a rate cut in September, the order of institutional listing of Ethereum ETFs, etc. will be more certain, which will be relatively more favorable to the later trend.
As a short-term meme risk warning, funds are gradually returning to the Bitcoin ecosystem. Several coins at the top of the meme sector have shown short-term peaking signals at this stage, so be cautious when chasing high prices. After a wave of financing for the Bitcoin ecosystem last week, the rebound effect of the inscriptions is still quite obvious. Ordi has risen by nearly 45% from the bottom. The second layer of Bitcoin has also been very strong in bottoming out recently. If it continues to brew, the wolf will really come again.
BTC: After falling back due to off-market influence, the price of Bitcoin is now rising again to test the highs. After the daily line increased in volume, it stood above the technical support line. In the short term, bulls continue to dominate. The daily short-term support rose to 68,400 points, and the pressure level was 70,800 points.
ETH: Ethereum's trend is linked to Bitcoin. Overall, the bullish trend of the daily line has not changed much. The bottom support is 3600 points and the trend support is 3860.
ORDI: The daily line is strong in the short term, and the short-term continuity of the market needs to be studied. Those who entered near the bottom of 36 points in the early stage can be partially sold first, and then look for opportunities to buy low when the long-term line corrects. The short-term high-quality support entry position is 44 points. The short-term entry at 36 points has reached 50 points now, which is close to 40%.
JTO: A wave of linkage returned to the 3.5-point trend support, continue to pay attention to the first wave.
JUP: The structural support is around 1.0 points. In the short term, Bitcoin can maintain the support. JUP has the opportunity to rebound with the support as the starting point.
ONDO: The leader of the RWA sector, the technical side is slowly moving upward along the five-day line, the bottom trend support is around 1.34 points, and it is a cyclical concern.
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