Looking at the data over the weekend: 1 billion US dollars of funds flowed back to the US this week, the market did not move, and the "food and grass" went first!
Looking at the market data over the weekend, it basically continued the low liquidity over the weekend, but today's focus is to verify our point of view:
1，
Stabilizing above the 57,700 weekly support, the altcoin got a good respite.
2. The market value of#USDCin the U.S. has been increasing recently. Is this a clear inflow of funds?
Bold assumptions, careful analysis, welcome to Uncle Cat’s encrypted “channel”
Let's look at the market situation
Market capitalization: The market value increased by 55 billion in a single day, which is a good increase. Bitcoin grew the most, followed by altcoins.
Proportion: Bitcoin market value decreased, Ethereum remained stable, and the proportion of altcoins increased by 0.3%
Trading volume: The overall volume has shrunk, with trading volume of less than 60 billion, so today's rise did not bring sufficient volume, which is a mixed blessing.
Funding: Today’s focus,
The market value of stablecoins decreased by 200 million.
#USDT: 1.6 billion, which can be ignored. The official website data is 112.417 billion, an increase of 58 million compared to yesterday, which is a small positive inflow into the market.
USDC: The market value on the data website decreased by 86 million, but today we got the official data as of July 11.
From last Saturday to this week, I have continuously observed that the market value of USDC in the United States has increased significantly. My basic view is that combined with the market situation, it is a capital inflow and it will remain in the market temporarily, but I have not obtained official data. Today, I saw the official weekly data ending July 11, which is Thursday, and I was surprised and unexpected.
According to official data, from July 4 to July 11, 3.6 billion USDC were issued on the chain, 2.6 billion were destroyed, and a net inflow of 1 billion USD into the market. From June 11 to July 11, 12.1 billion USD were issued, 10.5 billion USD were destroyed, and a net inflow of 1.6 billion USD was recorded. Basically, a large amount of funds flowed back from the United States for a whole month, especially in the week ending July 11, with an inflow of 1 billion USD in a single week, which is good news.
Conclusion/Note:
We finally concluded that Bitcoin stabilized at 57,700 and the weekend altcoins did get a breather, and the sentiment slowed down, which is a good thing. The return of funds, especially the substantial return of US funds to the crypto market, is also a good thing.
However, we should not be blindly optimistic. Just like the market situation, the return of funds represents the optimism of fund holders about the future market, but the optimism has no direct relationship with whether the market will rise in the future. Moreover, this part of funds will still be temporarily stored in the market after flowing in, causing the USDC market value to slowly decrease from 32 billion to the current 34 billion. Most of it remains in the market, also waiting for a signal.
The most important thing is that US funds are more liquid than Asian and European funds. Therefore, once the market conditions are not good, this part of the funds will not buy blindly and can flow out directly. In other words, this part of the retained funds is also waiting in the market to buy at the bottom. Therefore, we must maintain an objective and calm attitude towards the inflow of US funds.
The current market price is at a critical point. Whether the ETF next week can help the price break through and change the daily trend is a bit important. If the breakthrough is completed or the bottom is built, the funds can be fully utilized, which will also be beneficial for the subsequent rise. At present, it is not clear whether this part of the funds is waiting for favorable news to buy or waiting for continued decline to buy the bottom. However, the return of funds from the US is still a good thing to be optimistic about.
#BTC☀ #ETH🔥🔥🔥🔥 $BTC
