The A-share market has been excited for more than a week, and judging from the intraday situation, the excitement is about to spread to the B-share market. Bitcoin’s intraday high was 4,000 points, and now it has directly broken through the previous trend pressure of 64,000 points, approaching the reversal signal position of 67,000 points. Judging from the on-chain data, this wave of market surge was not the behavior of the main force, but was caused by the actual inflow of off-market funds.

Last Friday, the US shrank its balance sheet by 66 billion US dollars. In my limited knowledge, this is the only time that the recent rounds of interest rate cuts and balance sheet reductions are carried out simultaneously. The scale is not large, but the symbolic significance is great. Before the interest rate cut, I said a logic that the core purpose of the interest rate cut, one of the monetary policies of the Federal Reserve, is to activate the money of banks and expand consumption. The most basic element of liquidity injection is balance sheet reduction, which will be a full-fledged injection of funds into the market.

From our previous forecast of starting balance sheet reduction early next year to the current time point, there is reason to believe that the turning point of the market may come earlier.

From a macro perspective, the bond yields of Laos and the United States have increased slightly, which means that the net outflow of short-term traditional funds will be hindered to a certain extent. You can focus on this data in the short and medium term. There was no significant change in ETF data last week, so I will put it aside for now. However, the cumulative weekly increase data of the total number of ETFs has shown a bullish trend, which is expected to bring a small bullish support to the market in the short term.

Now the market should remain calm. We all know that a big bull market will come, but it is unlikely to come in this form. For spot positions, including big cakes, Uncle San tends to pull up in the short term and then ship in small batches. If there is another short in the later stage, there will be a certain amount of chips to take over. If it reverses directly, even if you chase it at a high position, it is much more reliable to get a certain market.

The public chain sector has been the most popular recently, followed by the meme concept. It is ironic that meme has defined the value of the crypto industry in this bull market. In terms of public chains, except for the high position of SUI, the other stocks mentioned in last week’s article have all seen good gains. Please pay attention to closing them when they are completed. As for the meme sector, Bome is close to the high point again. It is embarrassing to have been trapped before. This trend is likely to reach a new high. Please set a stop loss for the retracement.

Trump is going to issue a coin soon. If he can also take the stage, coupled with the recent small actions of Vitalik Buterin, the spring of the crypto world is accelerating, and Ethereum should also be on the rise. In addition to the sports sector, DeFi is expected to create momentum.

The issue of Sun Ge being prime minister has been quite popular recently. Besides the hype, there is another important reason, which is that Sun Ge needs a political identity that can be put on the stage to protect his personal safety. In addition to Sun Ge, it is estimated that there are many invisible bigwigs in the circle who have this need. Let's wait and see how Sun Ge will land safely in the end.

Continue to be patient in operations. This week is also a small node for the huge unlocking of VC coins. Don’t be FOMO when you see the big positive line. This year’s lesson is profound enough. In this bull market, lower your expectations before thinking about getting rich. Money is something that cannot be earned in a bull market, but it can be lost in a wave of market conditions. Move forward steadily.

BTC: Bitcoin has broken through the high point of the range, and directly reached above 66,000 points during the day, just a little bit away from the reversal point of 67,000 points. Whether the off-market funds can continue to pull the market depends on the closing line tomorrow morning. Objectively, I don’t think the market will reverse. A healthy cyclical market should be a short-term violent pull followed by a small range consolidation, and then gradually move out of a new main rising wave to lift the bottom support. At present, relevant indicators are still in the establishment stage. In the short term, pay attention to the support of 64,000 points. Bulls have the upper hand above this point, and the daily trend pressure level is 67,000 points.

ETH: Ethereum is linked to Bitcoin, and its trend is not independent. The daily increase is as high as 8%, but it is still below the trend pressure level of 2,800 points.

Some copycats: Those who have been paying attention to and holding in the previous articles can almost be sold in batches. The latest plan to double your positions will be released tomorrow. Please pay attention to the news announcements in the community’s various media.

The Fear and Greed Index is 48 during the day.

Finally, stay away from leverage and stock up on spot goods! ​​​#美国大选如何影响加密产业？ #BTC突破6W6 #币安质押SOL #Meme浪潮持续，你看好哪一个？ $BTC