Market Analysis 7.19
Good afternoon, brothers. BTC has pulled back.
It has risen from $54,000 to $65,000 for 5 consecutive days.
It is normal to take a few days off. It is impossible to keep rising.
Moreover, it is close to Saturday and Sunday, and half of the time it is volatile or pulling back.
After experiencing 9 consecutive days of net inflow of ETF funds,
yesterday's funds had a net outflow,
mainly due to Grayscale's shipment.
From the data on the chain,
(1) Stablecoins have not flowed out of the exchange on a large scale
(2) BTC in Binance has not flowed in on a large scale
So the risk level is not high
The general trend background is that the Federal Reserve is about to cut interest rates, which is bullish.
There are two positive factors next week: ETH ETF may be launched, and
Trump will attend the BTC conference to speak.
The current risk is mainly in Mentougou.
Mentougou has 140,000 BTC,
which will be gradually distributed over time.
Every large transfer in the wallet will bring a small panic to the currency circle.
It is recommended to hold the tokens:
Chr, Stx, FTM, Zk, AR, People
ETH and its three sectors Uni, Ens, Ssv
Japanese Ethereum Astr, Korean Ethereum Klay
