Today I will give you some scientific knowledge and talk about an unpopular track:
There are many newbies who don’t know why other altcoins fall after BTC rises, and many people don’t understand what Bitcoin’s rise means! Read the following carefully:
BTC is the leader in the cryptocurrency world, so there are many trading pairs of altcoins and Bitcoin, such as BTC/ETH BTC /ADA DOGE/BTC TON/BTC SOL/BTC PEPE/BTC BNB/BTC, etc.!
Careful people will find that recently USDT has been issued a lot, but when Bitcoin breaks new highs, the trading volume of Bitcoin's USDT is not very high, that is, it has been rising without volume, but where does its buying come from? And BTC is rising so hard! It appears on these BTC/altcoin trading pairs!!!
Normally, you buy coins with USDT. Recently, many market makers and institutions have adopted the model of using altcoins/BTC, which is equivalent to directly exchanging altcoins for Bitcoin. For altcoins, it means selling, which is also the reason why altcoins fall as soon as BTC rises recently. The selling pressure faced by altcoins is here. Then when BTC rises, they will exchange BTC/altcoins back! !
After such back and forth operations, the amount of USDT in the hands of market makers and institutions will increase. In the process, they will also add some leverage to increase the yield of funds! I won’t go into details! Those who understand will understand, and those who don’t understand will not understand even if I explain it to you!
Yesterday I said that Ethereum should not worry about the callback, but look for opportunities from it.
ETH was successfully bought in the low point area of 3315~3284 and rebounded all the way to the stop profit position. At present, the mid- and long-term bullish structure at all levels is complete, and the subsequent market is likely to fluctuate upward. In the process of callback, it is enough to continue to buy low and buy more. The reference points are as follows:
Short-term support is 3423~3397 (watch the market), second support is 3333~3307, medium-term support is 3255~3217, medium-term pattern suppression is 3695~3822. Note: the above support levels can be traded in batches, do not mix positions. The current aggressive single point has not been formed. If the opportunity is ripe, I will track it separately!
According to Token Unlocks data, this week SUI, OP and IMX will have a one-time large-scale token unlocking, with a total value of over US$300 million, including:
Sui (SUI) will unlock 64.19 million tokens at 8:00 on December 1, worth approximately $216 million, accounting for 2.26% of the circulation;
Optimism (OP) will unlock 31.34 million tokens at 8:00 on November 30, worth approximately $68.32 million, accounting for 2.5% of the circulation;
Immutable (IMX) will unlock 24.52 million tokens at 8:00 on November 29, worth approximately $42.41 million, accounting for 1.47% of the circulation;
1inch (1INCH) will unlock 98.74 million tokens at 20:00 on November 30, worth approximately US$38.73 million, accounting for 7.72% of the circulation.
