Frequent negative news: This morning, it was reported that the U.S. Department of Justice approved the liquidation of $6.5 billion worth of Bitcoin from the Silk Road case, coincidentally just before Trump takes office. This news caused Bitcoin's price to drop sharply.
$1500. The final result is still not confirmed, but if the liquidation happens before Trump takes office, his promises may not come true.
On January 8, Bitcoin ETF saw a net outflow of $568 million, and Ethereum ETF had a net outflow of $159 million. This time there were no inflows, only substantial outflows. As for who participated in the large inflow of 1BT yesterday, it doesn't matter much now; they are firmly trapped.
Grayscale's funds announced the latest fund composition weights for each product.
The Grayscale Decentralized AI Fund has added LPT to its fund composition, and includes the following assets: NEAR, RENDER, TAO, FIL, GRT, and LPT.
Grayscale DeFi Fund (DEFG) has added CRV to its fund composition, removed SNX, and includes the following assets: UNI AAVE, LDO, MKR, and CRV.
Grayscale Digital Large Cap Fund (GDLC) has added ADA to its fund composition, removed AVAX, and includes the following assets: BTC, ETH, SOL, XRP, and ADA.
Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE) has added SUI to its fund composition, and includes the following assets: SOL, ADA, AVAX, SUI, NEAR, DOT. Major additions include LPT, SUI, and CRV. However, these Grayscale funds have little reference value. I don't know if the clients investing in Grayscale products have accounts, but Grayscale has indeed made a fortune, feeling like a sorcerer in the market.
Market Interpretation
From the current shape of Bitcoin, there should not be a significant rebound today; we still need to wait for tomorrow's data. If the data is favorable, it could become a reduction opportunity. If the data is poor, breaking 9 is also a possibility. In a bad market, various negative news will assist in the decline, which is normal. If more than 60,000 Bitcoins from Silk Road are sold off before Trump takes office, similar to when the German government sold coins, a bottom could appear, and it could be time to prepare for bottom fishing! The specific position cannot be determined yet. Bitcoin is declining in sync with the second coin.
SOL can slightly lower the buy-in position, aiming to bottom fish around 175-185.
Regarding altcoins:
Apart from the hype from Korea, almost all altcoins in CEX are in a state of dead silence. The previously popular on-chain AI sector coins are also experiencing significant declines. However, a new LLM unicorn has emerged; back then, AI16z also went through a round of heavy losses before rebounding. Are you brave enough to bottom fish?
