1. Cryptocurrency Market Quick Pass
1. Altcoin market
ETH/BTC is currently in a correction.
BTC.D 4-hour chart is about to reverse and is expected to continue to fall in the next two days.
2. Fear and Greed Index
70 Greed
3. Liquidation heat map
There are still a large number of longs waiting to be liquidated around 93K, and the shorts at 99K are too concentrated, so it is possible that it will go up first.
2. Cryptocurrency News Express
1. Bhutan GMC announced that BTC, ETH and BNB will be included in the strategic reserve. PANews reported on January 8 that Bhutan’s newly established special administrative region, Gelephu Mindfulness City (GMC), announced plans to include digital assets such as Bitcoin (BTC), Ethereum (ETH) and BNB in its strategic reserves, becoming one of the first regions in the world to officially list digital assets as strategic reserves. Officials said the move will enhance the economic resilience of the administrative region and continue its exploration in the field of Bitcoin mining. In addition, the GMC plans to hold a high-level meeting in Bhutan in March 2025, inviting global government officials and industry leaders to discuss the significance of incorporating digital assets into strategic reserves, and plans to establish an international digital asset advisory committee.
2. A whale who made more than $17.2 million in profits from trading ai16z, GRIFFAIN, and ZEREBRO bought AVA, with a floating profit of $120,000. According to Lookonchain monitoring, a whale trader made a cumulative profit of more than 10 million US dollars on multiple tokens through precise operations. The trader continued to increase his holdings of $AVA in the past week, buying a total of 2.17 million (worth $333,000), with an unrealized profit of $120,000 at present. The most recent purchase occurred 9 hours ago.
3. A whale withdrew $14.56 million in WIF and POPCAT from CEX, and purchased $6.1 million in POPCAT, FWOG, and MICHI. According to nchain Lens monitoring, a whale withdrew 7.24 million WIF (worth about $13.32 million) from Binance and 1.87 million POPCAT (worth about $1.24 million) from Bybit. Subsequently, the whale spent $6.1 million in USDC to buy a variety of meme coins, including:
Use $4.65 million USDC to purchase 5.79 million POPCAT (unit price: $0.80);
Use $979,000 USDC to purchase 4.57 million FWOG (unit price: $0.21);
Use $469,000 USDC to purchase 3.9 million MICHI (at $0.12 per unit).
Currently, the funds have been transferred to another wallet.
4. Two whales bought a total of $2.21 million worth of SONIC in the past 24 hours. According to Onchain Lens, in the past 24 hours, two whales bought a total of $2.21 million worth of SONIC in the past 24 hours.
Whale 1: Spent 1.17 million USDT and bought 977,323 SONICs at an average price of $1.20.
Whale 2: Spent 4,858 SOL (worth $1.04 million) and bought 1.18 million SONIC at an average price of $0.88.
5. A whale's SUI long position of about $20 million is facing liquidation. According to Lookonchain monitoring, a whale's SUI long position of about $20 million is facing liquidation: the whale deposited 4.1 million SUI (US$19.3 million) and 100,000 sSUI (US$470,000) to Suilend, and borrowed $14.4 million in stablecoins. If the price of SUI falls to $4.56, the position will be liquidated.
6. The total net outflow of the US Ethereum spot ETF yesterday was $86.7917 million, and the ETF net asset ratio reached 3%. According to SoSoValue data, the total net outflow of the Ethereum spot ETF yesterday (January 7, Eastern Time) was $86.7917 million. Yesterday, Grayscale's Ethereum Trust ETF ETHE had a single-day net outflow of $7.9622 million, and the current historical net outflow of ETHE is $3.676 billion. Grayscale's Ethereum Mini Trust ETF ETH had a single-day net outflow of $11.1910 million, and the current historical total net inflow of Grayscale Ethereum Mini Trust ETH is $595 million.
7. Wintermute received 3.6 million SONICs distributed by the project two days ago for market making. According to on-chain analyst @ai_9684xtpa, Wintermute is the market maker for Solana game public chain token SONIC. Two days ago, Wintermute address 7sMiW...uLBBE received 3.6 million SONICs distributed by the project for market making, accounting for 1% of the initial circulation; currently all tokens have been recharged to the exchange.
8. A whale has deposited 427 billion PEPEs worth about $8.5 million to Kraken in the past 30 hours. According to Lookonchain monitoring, a whale has deposited 427 billion PEPEs (US$8.5 million) to Kraken in the past 30 hours and currently holds 1 trillion PEPEs (US$18.4 million), making a profit of US$2 million. The whale previously made a profit of US$11.7 million on PEPE.
9. A whale withdrew 83,900 LINK from Bybit, equivalent to about $1.8 million. According to The Data Nerd, 10 minutes ago, the whale 0xeD8 withdrew 83,900 LINK (about $1.8 million) from Bybit. In the past three days, he also accumulated 5.82 million WLD (about $1.5 million) and 228,000 UNI (about $3.44 million).
3. Fast Pass for Popular Currencies
1. MAX
2. MEETING
3. BUTTHOLE
4. SONIC
5. VIRTUAL
6. WIN
7. COOKIE
8. AI16Z
9. AIXBT
10. ABOUT
11. BTC
12. PEOPLE
13. GRIFFAIN
14. SUN
15. HYPE
4. Cryptocurrency Blogger Quick Pass
1. Top Trader Doves
He said early this morning: I think this is a good risk-reward spot to try to go long - 98.5k/3.5k is a key low time frame (LTF) level for BTC and ETH, and should ideally act as support where we want it.
However, this type of weakness in the direct penetration indicates abnormal behavior in the market and we may see more of this.
So I switched back to a defensive strategy.
He meant that BTC should have support at 98.5k, but the market performance was to penetrate directly, so he switched back to a defensive strategy.
2. Trader Vivian
Her viewpoint is shown in the picture. Whether her prediction is accurate or not is beyond discussion. The precision is impeccable. From short-term to long-term, from day to night, the rebound range and support points are very comprehensive. However, we only need to refer to the following direction, which is to buy the bottom in the next 10 days and then wait quietly for the rise.
3. Trader Ansem 🐂🀄️
Trader Altcoin Sherpa held up the BTC.D chart and said: The alt season has come, but you have missed it. This means that when BTC.D fell in November, it was during the alt season.
Ansem 🐂🀄️ retweeted and replied: I really, really hope you stop thinking that the BTC.D drop is equal to the alt season. BTC.D is basically just the reverse trend of ETH/BTC. Ethereum does not necessarily need to outperform Bitcoin, other currencies can still rise.
Altcoin Sherpa replied: I think sol/btc may be a more interesting chart in the future (rather than eth/btc). Eth/btc has been falling unilaterally for many years, and we have seen a lot of good altcoin trends in the middle.
The two big guys proposed a new indicator for observing the alt season - the sol/btc trading pair
4.Bybit Trading Champion DeFi^2
He still emphasized that AIXBT was undervalued and gave reasons.
AIXBT’s current market value is 374 million, and the daily chart is on a downward trend, but you can keep an eye on it for now.
5. Trader Game
He said this morning: Friday's non-farm payrolls report will affect the direction of the market. If it falls, BTC support is at 87-90K.
He also said: Once you misjudge the direction, you must stop loss quickly. The accompanying picture shows that he took the BTC shot last night and sold it quickly.
The latest post said: He is ready to buy at the bottom. XRP has the strongest performance in the secondary market, and $GRIFT, $BMX and $NEUR on the chain are performing well.
6. Trader DonAlt
He said: On the low time frame, if it falls below 99K, it will be a bit troublesome and may fluctuate in the range for a long time. The first support level he drew is around 90K and the second is around 72K.
7. Trader AB Trades
He said it on December 22: Come back in mid-January if you want to do leveraged trading, otherwise take a break.
He believes that the bull market will continue in at most one week, so he should take a good rest before that.
In addition, he posted last night that he is optimistic about TAO's future performance.
8. WWG Trader Woods
He said if BTC drops to around 88K, you should sell your house and go all in.
He said in the community that SOL has stopped loss, BTC has broken even, there is still a long way to go, so it is better to preserve strength first.
9. Crypto Tony
He believes that the market is going through a 4-wave correction, followed by a 5-wave rise. Once the decline slows down, he will buy the bottom of the altcoins.
10. Wave Theory Liu Yudong
Daily chart on January 8, 2025
The black line is the first part, the red line is the second part. The green dot adjustment will continue.
If the price breaks through 103306, it may form a platform or a combination, but not below it. From the purple dot, a small-level downward impulse wave is formed. If it cannot rebound above 99453, there is still downward momentum, and 87584 is support. The green dot is normal for 50 to 90 days of adjustment, and is still looking for the end point. As long as the end point is not lower than 83576, it will rise to 115794 and 142252.
What he meant was: BTC adjustment will not end so soon, because it did not break 103306 yesterday, and it will not take a platform-type adjustment. Then 91500 is not the bottom, and the support is 87584. As long as it does not fall below 83576, the bull market will continue.
V. Conclusion
There was a bloodbath in the copycat market today. I hope someone has listened to the risk warnings in recent days. There is a chance that the U.S. stock market will rebound when it opens tonight. Those who have untied their positions can exit and look for new opportunities to enter. The market may fall again on Friday.
There is no need to cut losses for those who are deeply trapped in the spot market, but cutting losses is not scary. What is scary is that after cutting losses, you dare not buy back at a low price until you sell out and then slap your thigh.
It is not suitable to go long or short at this position now. It is better to buy the bottom of the spot in a couple of days and wait patiently for the bull market to return.
The bottom-picking time is within 1 week. You can wait for my notification for details. I have been shorting for more than half a month. In the next few days, I will also recommend some currencies for your reference.
statement:
The above information is for reference only and is not a trading advice. The cryptocurrency circle is high-risk and you should be cautious when participating.
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