Let the data speak: the market is gradually rising in volume, and funds are flowing back. Can Bitcoin take this opportunity to reverse the trend? ?
Bitcoin started to rise over the weekend and successfully completed a daily level breakthrough, but many people have found that the altcoin market has not improved at present. Let us look at the answers that market data brings us.
Bold assumptions, careful analysis, welcome to Uncle Cat’s encrypted “channel”
Market value: The market value increased by 132 billion compared with Saturday, with a large increase in data. In terms of share, Bitcoin's share increased rapidly in the short term to 51.2, an increase of 0.4%, Ethereum's share remained unchanged with a steady increase, and the share of altcoins decreased slightly, with a slower increase.
Trading volume: The increase was about 16 billion, of which the increase was obviously from copycats. The increase in Bitcoin and Ethereum trading volume was smaller, but the overall increase was still an increase. At the same time, the low increase in Bitcoin and Ethereum trading volume also shows that the selling pressure in the current rise is small, and the previous downward selling pressure has been released in the short term. However, for the current trend, continuing to increase the volume and increase the turnover will help stabilize the price in the future.
funds:
The market value of stablecoins increased by 400 million.
USDT: The market value of the data website increased by 201 million, and the official website data was 112.536 billion, an increase of 119 million compared to last Saturday. Overall, Asian and European funds are in a positive inflow state.
USDC: The market value of the data website increased by 108 million. The official website data is updated every 7 days. The data we obtained from the increase is that the net inflow of funds in 7 days is 1 billion US dollars. With the current rising market, we can still judge that the funds come from off-site inflows.
Summarize:
Overall, the data is relatively optimistic, with a substantial increase in market value and a small increase in trading volume, which is somewhat consistent with the rebound in sentiment after a decline, that is, an oversold rebound, with bullish sentiment crushing bearish sentiment, and capital inflows also representing increased confidence among traders. However, how to continue to extend the rise and stabilize prices in the future still requires sideways trading with large turnover at certain positions, otherwise, if the rise is not large, the market will face concentrated selling pressure.
At the same time, we can see from the market share that Bitcoin has the largest increase and the fastest growth in share, which also means that although the market sentiment is bullish, the risk appetite is poor. To put it bluntly, people trust Bitcoin more for bulls, but still have concerns about altcoins. After all, some altcoins are not resistant to declines. Of course, if Bitcoin continues to rise, stabilizes, consolidates, and changes hands, the stability of the market will give more market confidence, and then altcoins will quickly follow the rise, and the market risk appetite will also improve.
Pay attention to the sentiment after the U.S. stock market opens tonight to see if it can continue to keep the crypto market rising.
#BTC☀ #ETH🔥🔥🔥🔥 $BTC