July 11, 2024 Grandpa checks in
Continue to pay attention to the German government's coin sales. According to Arkham data, the German government's wallet address transferred 2,375 bitcoins worth 138 million US dollars. After this transfer, the number of bitcoins confiscated this time is less than 10,000. Corresponding to the price changes of BTC, its impact and influence on the market can be basically ignored. After the previous intensive bearish information, the price of bitcoin fell below 54,000, setting a new low since this wave of bull market, but it has now returned to 58,000, basically digesting the single factor of the German government's selling.
In addition, the ETF has shown a net inflow recently. The data shows that there are about 500 million, which has hedged the German government's selling to a certain extent. It can even be said that it is for this wave of bargain hunting. The next market will not be very bad. It is currently in a relatively healthy rebound. It's just that this process takes time. Whether it is the huge impact in the plunge or the profit chips at the bottom price, it takes a concentrated digestion process. In fact, for those who are bargain hunting, this short period of time is actually quite painful. If you understand it, you will understand it.
As for the medium-term market trend, I think it depends on the rebound height. Objectively, the price of Shanzhai has reached a relatively low range, but for the prices of Bitcoin and Ethereum, they have not reached the so-called black swan price. This rebound is within expectations, but I have publicly said that I did not buy at the bottom at the low point, because the absolute price of Bitcoin is not attractive enough. If this wave rebounds to more than 60,000, I will continue to find opportunities to sell the bottom-fishing part and wait for the subsequent market. I will talk about the specific logic later.
It is a consensus that this year's market is difficult to trade, so in the subsequent market, I will still recommend some swing operations at some key positions, and at the same time do some financial management. Here I publicly recommend one to everyone, which is not really a recommendation, because the project can be used for free, called sofa. The project has tokens, which I will write a detailed article later. I will not recommend it here for the time being, but because there is almost zero risk of financial mining, and there is a certain expectation of airdrops, so it is recommended to learn about it.
Thank you for your attention and likes.
