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Affected by the hawkish policy of interest rate cuts, the net inflow of Bitcoin ETF, which lasted for more than a month, turned into a net outflow (around 390 million USD) last week, while Ethereum ETF performed brightly with a total net inflow of 350 million USD... This shows that due to the impact of policies, the main force has started to transfer the risk of BTC or to avoid part of it in advance. Therefore, in the subsequent market, I maintain the previous view and continue to be optimistic about Ethereum outperforming Bitcoin's exchange rate in January... The recent rebound in exchange rates also indicates this..
Tonight, pay close attention to the movements after the US stock market opens. I personally expect that this week, with the end of the year for Europe and the United States, off-site new liquidity will gradually recover, so I am relatively optimistic about the overall performance of coin prices this week. As for altcoins, due to the significant losses recently, we need to wait for the big brother and second brother to break through upwards before welcoming a warm-up..
An important piece of news this week is that FTX's 16 billion USD compensation has started to be implemented one after another, most of which are cash (USDT) payments. Regardless of whether it is in terms of meaning or reality, it is undoubtedly a good thing. Even if only a part of it flows back, it can significantly boost market confidence..
From the K-line perspective, although Bitcoin's exchange rate has recently declined, the large-scale trend is still on the upward trend line, and we need to wait for the recovery of liquidity. Based on the above inference, the fastest rebound from overselling is expected this week. The support below is around 92800, and the large-scale support near 90000 remains strong. These two points serve as references for contract long and short positions.
The thought process remains to go long at low levels. Currently, no short positions are to be taken.
