Why did WBTC hit a celestial needle? Let's start with the conclusion: the WBTC trading pairs on Binance have almost no liquidity, and it only takes around 100 WBTC to crash through. Zuo Ci believes that this should be due to a large holder's WBTC being stolen, and hackers are using this low liquidity trading pair for wash trading to launder money, specific details will await tomorrow's Binance announcement. Now, let's introduce what WBTC is? Everyone knows that DeFi happens on ETH, and BTC does not have a smart contract mechanism, so what to do? Thus, WBTC was created, by staking BTC 1:1 to issue WBTC on ETH to maximize the capital utilization rate of BTC. In fact, this token has sufficient liquidity on-chain. Everyone, don't panic! 😱 $WBTC
The market retracement has accurately hit our replenishment position near 97350, and left Cizi has also replenished at the 97388 position. The average position price has now reached 97700. Tonight, we need to focus on whether the support level at 97200 can hold. If it holds, there is hope for a new high or to break the new high; if it cannot hold, it may test around 95000. If anyone has questions or suggestions, feel free to leave a message in the comment section or contact me through the homepage. Thank you all for your attention and likes! 🙏 #BTC创历史最大月度涨幅 $BTC
From the daily level, Bitcoin closed with a doji yesterday, indicating that the bullish trend remains strong, but the selling pressure at the hundred thousand level still needs time to be gradually digested. The 4-hour level shows that the MA5 moving average is overlapping, and it continues to show a rising doji, indicating significant divergence between bulls and bears. If support is lost, it will test the support level of the 4-hour MA30 moving average. Therefore, under the bullish trend, it is recommended to wait for a pullback to go long.
Trading Suggestions: Build a long position during the pullback to the 98388-98000 range for the first entry, add positions at 97350, set a stop loss at 96900, and target around 99450.