The biggest event in the crypto world yesterday was Zhao Changpeng giving an interview. One can say that Zhao Changpeng is indeed a remarkable person; even in prison, he is working hard to stay fit, and after his release, he has actually developed a muscular physique!
Who is happiest about Zhao Changpeng's release? Of course, it's He Yi, after all, he is the father of her two children!
And he has also built a muscular physique; He Yi must also benefit directly, everyone understands! But Liangxi can't stand it.
I have to say, Liangxi's perspective is unique; no wonder he has earned tens of millions!
However, in front of the former Chinese billionaire Zhao Changpeng, I think it's better to show a little more respect!
Bitcoin has plummeted, falling below $70,000, and currently continues to fluctuate!
The core PCE data released yesterday was not good, and the poor earnings reports from US tech stocks led to a plunge in the Nasdaq and S&P 500, and the US stock market has also entered a correction phase.
Among them, the blockchain stock Coinbase reported poor earnings, plummeting over 15%, which can be described as very ugly!
However, MicroStrategy (MSTR) only fell by 1.15%, although the decline is much smaller than Bitcoin, the crypto market itself also has a demand for adjustment. Currently, the MACD has formed a daily death cross, and a pullback is inevitable!
From the data, the net inflow of spot ETFs is 432 units, entirely supported by BlackRock, which invested 4,392 units. With the decline of US stocks, capital outflow has also reached $280 million!
Although Bitcoin has pulled back, there is still a possibility of hitting new highs, even breaking $80,000!
Although Bitcoin has clearly pulled back this time, the contract holding volume has not been significantly reduced, according to data from Coinglass:
Currently, it has decreased from a maximum holding of $43.6 billion to $42.3 billion, a reduction of $1.3 billion in holdings this time.
However, compared to the $39 billion level at the beginning of the year and the $37 billion holdings in July, it is still $3-5 billion higher, indicating that the vehicle is still heavy. To take off, continuous ETF buying support is necessary!
So the ideal trend is: maintain a period of fluctuation in the range of $68k~$73k, and through a downward fluctuation, reduce at least $3-5 billion in holdings!
Once the vehicle becomes lighter, it will be able to take off more smoothly, with a goal of breaking through $74,000 and reaching new highs, aiming for at least $80,000.
Currently, in the US election, Harris is also trying hard to stabilize the US stock market; for example, tonight's data is very obviously beautified!
Zhao Changpeng hinted that 2025 will welcome a bull market.
CZ Zhao Changpeng attended a conference in Dubai and hinted that 2025 will welcome a bull market, with 2024 being a recovery year. Historically, Bitcoin has gone through a very clear four-year cycle.
2013 was a bull market, 2017 was a bull market, and in fact, 2012 was a recovery year, which many people do not look back on that far. 2016 was a recovery year, and 2017 soared. 2020 was a recovery year, and 2021 was a bull market. 2024 returned to previous highs.
He said that he still holds a very optimistic view of the entire industry and is currently engaged in the educational project Giggle Academy. Even if the US allows a return to work, he won’t personally get involved.
He guarantees that at least half of his time is now devoted to the Giggle Academy project, which he finds very interesting and impactful, even though it won't be a highly profitable project.
Zhao Changpeng talks about his prison life.
He said that after entering, his freedom was taken away, and there wasn't much to do, but this also gave him a lot of time to reflect.
He learned many important lessons, such as when everything is taken away, what do you miss the most? I miss my children, family, friends, colleagues, and community.
I miss other things too, but not nearly as intensely as I miss people. You might miss food, a comfortable bed, but these things don't matter much to him; this experience has refocused his priorities in life.
Although he was sentenced, compared to others, the sentence is indeed short. Most people in prison have sentences of five years, ten years, or even longer.
So from this perspective, he considers himself lucky; the judgment has passed, and life must look forward.
He also mentioned that he insisted on exercising even in prison; he can do push-ups, able to do 300 at a time, with the fastest speed reaching 60 in the first session and then doing less each time, like 50, 40, 30. By doing this in sets, he can complete 300, which is how he built his muscular physique!
