Cryptocurrency News
Hot Topics on October 5;
1. A whale withdraws 1 million EIGEN from Binance and deposits it for pledge, with a total of 3.01 million EIGEN pledged
2. Nick Timiraos (Fed Mouthpiece): The September employment report may close the door for the Fed to cut interest rates by another 50 basis points next month
3. IcomTech founder David Carmona was sentenced to nearly 10 years in prison for participating in a "cryptocurrency Ponzi scheme"
4.CryptoQuant: 1. As U.S. Treasury yields fall and gold rises, Bitcoin has potential upside
5. Ubisoft will launch NFT on Arbitrum through Magic Eden
Trading experience
Current status of the crypto market: 1. Funds have not flowed into the crypto market: Despite China's monetary easing and the US dollar's interest rate cuts, more funds should have flowed into the market. But the reality is that this liquidity has not entered the crypto field in large quantities. Investors prefer traditional assets such as stocks and real estate rather than riskier crypto assets. 2. The unlocking and cashing pressure on project parties and institutions has increased: In previous cycles, ordinary investors had more opportunities to participate in high-quality projects at an early stage, such as through ICOs or launchpads. However, now many new projects are financed through private placements, and ordinary investors cannot participate. When these projects enter the public market, early venture investors have already received several times the return. When their tokens are unlocked, they often choose to sell and cash out, which brings continuous selling pressure to the market and depresses prices. 3. The altcoin market is too fragmented: Many new tokens have a high fully diluted valuation FDV, but the actual circulation is low. This means that the number of tokens circulating in the market is very small relative to the total supply. At the same time, the number of new tokens with high FDV is too high, which further disperses the liquidity of the altcoin market. As the locked tokens are gradually unlocked and enter the market, there will be continuous downward pressure on prices. 4. Lack of confidence among external investors: The sharp market fluctuations and some previous negative events, such as the closure of the FTX exchange and the collapse of the Luna project, have caused many external investors to take a wait-and-see attitude towards the crypto market. 5. Lack of new market hotspots: In this cycle, we have not seen similar innovations that can attract the public's attention to drive market sentiment. ICO, DeFi, and NFT have all brought about a corresponding wave of copycats.
LIFE IS LIKE
A JOURNEY ▲
Below is the real-time group order of Dabai Community this week. Congratulations to the coin friends who have followed. If you are not operating smoothly, you can come and try the water.
The data is authentic, and each order has a screenshot at the time it was issued.
Search for the public account: Dabailunbi
BTC
analyze
The daily price of Bitcoin rebounded yesterday from the lowest level of 60500 to the highest level of 62500, and closed at 62100. The lower support is near MA120. If it falls below, it can be seen near MA90. If it falls back, it can be seen near MA7. The upper pressure is near MA14. If it breaks through, it can be seen near MA14. The MACD short position shrinks. The lower support of the four-hour chart is near MA14. If it falls back, it can be seen near MA120. The MACD long position increases. In the short term, it can be seen near 61500. The rebound target can be seen near 62300-63000.
ETH
analyze
Ethereum daily line rebounded yesterday from the lowest near 2340 to the highest near 2440, closing near 2415. The upper pressure is near MA30. The lower line tested 2320 several times to form support. You can buy more near the MACD short shrinkage. The upper pressure of the four-hour is near MA200. The lower support is near MA14. You can buy more near the MACD long increase to form a golden cross. You can buy more near the short-term near 2358-2320. The rebound target can be seen near 2420-2450. The mid-line can buy more near 2265. The rebound target can be seen near 2430-2490.
Disclaimer: The above content is personal opinion and is for reference only! It does not constitute specific operational advice, nor does it bear legal responsibility. The market situation is changing rapidly, and the article has a certain lag. If you have any questions, please feel free to consult.
