People always ask whether it is worthwhile to participate in the new currency of B.An. In fact, Mr. Dan has mentioned it many times in articles and morning newspapers. Just don’t participate and just take a look. Why is the answer so straightforward? The reason is very simple: the opening market value of large projects is too overestimated, resulting in no sustainability in the future. The consequence of B.An’s current dominance is that when there were Huobi, OK and other competitors, he still paid attention to his eating habits. Now that there are no competitors, his eating habits are naturally not good.

Just today, BTC fell below $63,000 and SOL fell to around $125. Although major currencies have not yet fallen back to the level of April this year, the decline of altcoins has approached the point at the beginning of last year's bull market. The number of spot currencies on the Binance platform alone has fallen to 1,150, while the number of rising currencies is only 106, accounting for less than 10%.

I have summarized several factors related to the recent decline for your reference:

1. Bitcoin spot ETF has a large outflow and a decrease in inflow

2. Large-scale token unlocking and selling pressure

3. Investors actively sell off and FUD sentiment spreads

4. Macro level: unclear supervision and policy pressure

5. Binance’s new coins perform poorly

I won’t say any more, just wait patiently for the Ethereum ETF in the near future!

Market analysis:

BTC：

There was no upward shock at the weekend and it went sideways for 2 days. Today it fell below the integer of 630. There was no rebound force at the hourly level. It is likely to go to around 611. You can place a D order around 60700, with a stop loss at 603.

ETH：

The price of Yitai fell back to 3400 today. The expected price of 3600 was not reached before, but 3400 is an important support level. If the support level holds, it will go back to 3140 if it breaks.

Altcoins:

The altcoin market is now oversold, and the weekly level has deviated from the 5-day line for nearly 3 weeks. If BTC/ETH stabilizes after the recent spike, the altcoin will rebound violently. At this time, we are afraid of cutting meat back and forth and sending heads. We continue to wait. Now the altcoin dealers are more uncomfortable than us. But don’t touch the coins that have been unlocked recently, especially the new coins with large market capitalization are almost cut as soon as they are released.