Today's market interpretation: On the third day of low liquidity, the altcoins have begun to lose their momentum. The market needs #BTC☀ to give confidence, and the funds in the US area have begun to withdraw!
Let's take a look at the market data on Monday. Although many people said that the altcoins were slaughtered as soon as BTC fell, after looking at the data, it is true that the altcoins are a bit "disintegrated" today.
In the market decline, the overall decline of the altcoins is obvious, the transactions have decreased, the bullish sentiment has weakened, and the sentiment of the altcoins has begun to be pessimistic, while the transaction volume of BTC ETH has increased slightly. In the decline, funds are still focused on BTC ETH to buy.
The altcoins continue to rebound, and currently need BTC to give confidence.
In terms of funds:
The market value of the deposited stablecoins in the market has decreased by 200 million, and is currently 171 billion.
USDT: The official website data is currently 118.229 billion, an increase of 4 million compared to Saturday, which is basically a suspended inflow state. The data website shows that the market value has decreased by 79 million. This part of the funds should have participated in the transaction. Trading volume decreased by 17%
USDC: The data website shows that the market value increased by 101 million, accompanied by a 24% increase in trading volume. Combined with the trend, it should be the withdrawal of funds from the market that ended the transaction, which led to the increase in market value. Traders in the US are still selling sporadically.
Summary:
The altcoin, which has been stable for a period of time, is facing a test again. If BTC continues to fall, the altcoin may be more depressed, which also represents the deterioration of market risk preference. The market needs BTC to give a certain amount of care again.
As for funds, it is currently closed for the time being. Asian and European funds have stopped inflows, and US funds have begun to withdraw from the market. Today's data orientation is not ideal, and we still have to wait until Tuesday night.
Friends, take your time, don't panic, don't be anxious!
