Important news and market analysis on August 17📊
1. This week, the US Bitcoin spot ETF had a cumulative net inflow of 32.4 million US dollars, of which Grayscale
GBTC had the largest net outflow, with a net outflow of 195.2 million US dollars during the week, and BlackRock 1B1T had the largest net inflow, with a net inflow of 71.1 million US dollars during the week.
The overall net inflow shows that big capital is still bullish. This week, the price fluctuated violently, but today the price returned to 5w9, indicating that the bulls are still very strong. This week is just a wash, and the market panic index of 25 shows that the dealer has also achieved the effect of washing most people off the car.
It is expected that after the cleansing this month, in conjunction with the speculation of the interest rate cut in September and the ceasefire in Gaza, a violent bull market will come. The previous high of about 7w will be seen first
2. Market analysis: This week, BTC began to fluctuate violently after reaching the resistance level of 6w2. The wash has been very serious in recent days. Last night, there was a rebound and rose to about 5w9. At present, we are paying attention to the resistance level of 60800 above. If it rises and stabilizes this position, it will usher in a substantial rise. If it does not rise, the market will still fluctuate.
3. It is recommended to do more at around BTC58300-58600. If you see 6w-6w2, stop loss 57500
