September 29, 2024

News Interpretation:

Today's Fear and Greed Index is 63, and the market sentiment is greedy. The US Ethereum spot ETF ushered in a net inflow of about $84.5 million this week, setting a record for the highest single-week inflow since early August.

In the past week, the circulation of USDC increased by about $700 million, and the total circulation climbed to $36.2 billion. The Aevo team repurchased 1 million AEVO tokens at an average price of $0.42. BlackRock further increased its holdings by 1,684 BTC, and has accumulated 7,578 BTC in the past four days. The TON network currently has a total of 678.9 million TON tokens in a pledged state, with an annualized yield (APY) of 5.1%, and a total of 400 verification nodes in operation in the network.

Technical Interpretation:

Bitcoin ($BTC ) continues to maintain a high-level oscillation trend. Although there are signs of top divergence on the four-hour chart, it has not yet formed a dead cross, so the pullback is relatively limited. Yesterday's adjustment did not fall below the key support level of $65,000. If it can effectively stand at this position, it is expected to continue to hit the pressure range near $68,000. At present, Bitcoin maintains a narrow range of fluctuations at the one-hour level, and the fluctuation range is roughly between $65,000 and $66,000.

Bitcoin's fluctuation range today:

Support level: around $65,100, around $64,500, around $63,800 Pressure level: around $66,000, around $66,600

Ethereum's fluctuation range today:

Support level: around $2,649, around $2,600, around $2,572 Pressure level: around $2,700, the target level points to around $2,720, and the further target is around $2,800

Bitcoin currently maintains a high-level fluctuation pattern. As long as it does not fall below the key support of $65,000, the market still has upward opportunities. With the relative stability of Bitcoin, altcoins are also expected to show good performance after appropriate adjustments.

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