Market Analysis 7.10
Good afternoon, brothers. BTC is currently stable at $58,000.
Fed Chairman Powell's speech last night was obviously bearish,
because Powell said that "more good data" will increase people's confidence in the downward trend of inflation.
This strengthens the reason for the US to cut interest rates.
Although the price has increased to a certain extent,
but judging from the on-chain data, it is still not ideal.
(1) The BTC inventory in Binance has increased, and more people want to sell coins.
(2) The stablecoins in the exchange have decreased to a certain extent, and the bottom-fishing funds are a bit exhausted.
The funds flowing into the ETF are amazing, with an inflow of more than $200 million.
Although the German government is selling coins, the price has not fallen sharply due to the bottoming out of ETF funds.
It is still a tug-of-war, and it is time to call each other stupid again.
It is necessary to let those who want to sell coins, such as the German government, sell almost all of their coins.
And many people who did not get on the train before start to bottom-fish.
It will take a period of turnover before a new round of increases can be started.
Continue to emphasize that what we need to do now is to hold the coins and be patient.
If there is a drop, we must avoid being broken by panic emotions.
Hold on for a while, and there will be a turnaround.
It is recommended to hold the following tokens:
Chr, Stx, FTM, Zk
ETH and its three swordsmen in the sector Uni, Ens, Ssv
Japanese Ethereum Astr, Korean Ethereum Klay
Keep some money in reserve to prevent the price from falling to $52,000
