Although the price has rebounded a little in the past two days, the fear and greed index remains at a low level of 20.
Due to the poor performance of the altcoins and the second altcoin, the market value of Bitcoin has reached 57%. Generally, Bitcoin will continue to rise in the bear market. At the top of the bull market, due to the collective madness of the altcoins, the market value continues to decline.
In addition, according to the data of ETFs, although the second altcoin has been very poor recently, the sales volume of Grayscale has begun to gradually decrease, resulting in positive inflows recently.
The current market is still fluctuating widely, so wait patiently for September.
Tomorrow, we will analyze several indicators that are more meaningful in the long run.
Indicator analysis on August 8, 2024
Percentage of holdings greater than 1 year: 65.67% (less than 55% is a high-risk area)
Ahr999 index: 0.61 (less than 0.8 is a fixed investment area, and less than 0.45 is a bottom-fishing area)
Bitcoin market value share: 57.19%
Fear and greed index: 20 (close to 100 is high risk, and less than 10 is a bottom-fishing area)
Bitcoin Rainbow Index: Accumulate (orange is high risk, dark blue is the bottom-picking area)
Ethereum Rainbow Index: Still cheap (pink is high risk, dark blue is the bottom-picking area)
PI distance crossover: parallel (very far, parallel, fast crossover, crossover (where crossover is the top of the bull market))
RHODL ratio: 3950.42 (greater than 10k is the top area, below 300 enters the bottom-picking range)
RSI indicator: 59.27 (less than 45 enters the bottom-picking range, greater than 85 is the top area)
Big cake ETF inflow and outflow (unit: million): -148.6
Ethereum ETF inflow and outflow (unit: million): 98.4
Fixed investment and fixed selling index: holding range (bottom-picking range/fixed investment range/holding range/fixed selling range/top range)
4-hour big cake K-line trend: downtrend (upward trend/downward trend)
1-day big cake K-line trend: downtrend (upward trend/downward trend)
12 data collection indexes: strong Buy
All the above texts are my personal opinions and do not constitute any investment advice
