Overnight, BTC continued to lead the 5-day line to fall. The downward trend has continued for 5 days. Well, well, the enthusiasm for hitting $100,000 is a bit too much, and it would be nice to have some cold water.
The monetary policy minutes were released at three in the morning, and the results turned out to be hawkish. In addition, the U.S. stock market will be closed starting Thursday, which may lead to a temporary lack of liquidity.
Bitcoin’s pullback came as expected
It has started to reverse. Bitcoin has fallen 8.85% from the high of 99k~91k. The mid-term decline adjustment of the bull market has basically been achieved. At present, this is more like a normal correction. (I do not recommend reopening a short position. The two days when the short position was at its peak have passed.)
As the key EMA moving average was broken, the market shifted from a one-way trend to an adjustment phase, and long and short opportunities began to appear alternately. Next, the key to Bitcoin lies in when the trend channel turns green again, which will be a clear signal for the next right long opportunity.
Today's BTC market analysis, from the K-line, the 1-hour level is a rebound and upward trend, the 4-hour level has a bottoming out phenomenon, the 12-hour level is a decline, and the daily level is a decline. The intraday pressure level is 95500 and the support level is 90000 US dollars. Today's Cryptocurrency Fear and Greed Index is 75
Don't panic, the copycat market will continue
Since the day before yesterday, Ethereum has not followed the decline of Bitcoin but has risen instead. As the size of the altcoin market grows, the market share of Bitcoin is diluted by the cycle, and the altcoin season is not far away. After Bitcoin stabilizes and rebounds, ETH is also expected to be the leader, and the hype will soon be upgraded in the first quarter of next year.
Let’s first talk about Wintermute’s market making trend routine
As shown in the figure, it seems that the downward washout needs five steps. . . . Judging from the daily price trend, the washout range from the high point to the low point is just around 50%.
The main reference is the MEME project that is listed on Binance spot and contract, as follows:
1.GOAT
After the launch of GATE and Binance contracts, it surged to 0.91 and then washed to 0.42, and then rose to 1.37 again, and then washed to around 0.7, and now it is rising slightly. The decline and washing range is about 50%.
2. Neuro
After listing on Binance, it surged to 0.00137 and then washed to 0.00086, then surged to 0.0023 again, then washed to 0.0012, then surged to 0.00311 again, and in recent days, the lowest washing was 0.00162, and it fluctuated here. The falling washing range is about 40%-50%.
3.ACT
After listing on Binance, it reached a high of 0.95, and then fell to a minimum of 0.4, and is currently fluctuating. The falling range is about 57%.
4.PNUT
After listing on Binance, it surged to 2.5, then the lowest point was 1.03, and it is currently fluctuating. The decline is about 58%.
5. BABY
After listing on Binance, it hit a high of 0.000017, and the lowest drop was 0.0000059 on August 5. This was an exception to the panic drop, and in other cases, it basically dropped to around 0.000007. The drop was about 58%.
Then it went up to 0.000025, and now it has dropped to the lowest point of 0.000017, and is fluctuating here. The decline is about 33%.
In summary, it seems that the range of the Wintermute market-making projects is about 45%-65%. Sometimes, when the market is in extreme conditions, it is not necessarily as absolute as 50%.
MEME fluctuates greatly
A "big mistake" BUG soared 10053% in 24 hours!
As the meme coin hot money shifted from Sol to Base! SantaClanker's coin issuance error $BUG soared 10053% in 24 hours!
BUG
A Farcaster user wanted to issue a Christmas concept coin named "SantaClanker". Due to the Christmas concept and AI errors, the name of the token deployed by Clanker became BUG. The meme attribute of BUG was quickly recognized, and its market value once exceeded 5m. As of the time of writing, the market value of BUG is 4.31m, with a 24-hour increase of 10,053%.
