Interpretation of today's market data: The market is "silent". If it doesn't explode in silence, it will die in silence. Who will activate the market?
Today's data seems a bit boring, so let's just record it briefly.
The market value increased slightly, the proportion did not change, and the trading volume was basically the same as yesterday. The difference is that #ETH🔥🔥🔥🔥 transactions decreased, and #BTC☀ transactions increased. The main game point of the market funds is still BTC itself.
ETH cottages remain silent as a whole, waiting for BTC to give a signal. At present, there is no motivation to break upward, and there is no panic when breaking downward. The market needs to temper its emotions. According to management, the market is in long-term fluctuations. The longer the time, the more likely it is to have short-term panic and let short-term holders ship.
In terms of the amount of funds, the stock of stablecoins on the market has decreased. It seems that there are still people actively buying in the decline. The current stock is 167.6 billion, and the market value has decreased by 200 million within the day.
USDT: Official data is 116.713 billion, an increase of 181 million compared to yesterday, and the market value of the data website has decreased, proving that Asian and European funds have not only actively flowed into the market, but also actively participated in the transaction.
USDC: The market value of the data website has increased by 121 million, accompanied by a decrease in trading volume, which should be the sedimentation of funds flowing into the market. The official data can be obtained tomorrow, Saturday, and we will see then.
Summary:
The current market silence lies in the uncertainty of BTC. The market still needs a sense of direction, and at the same time, it drives the release of both buying volume and selling pressure to make the market gradually active. In the short term, the driving effect of external news is biased, and we need to wait patiently this week.
Today, Friday, as the last trading day of the US stock market, the performance of the US stock market should be relatively stable. The impact of the US trading time on encryption still focuses on the opening half an hour of the US stock market, as well as the end and closing stages of the US early morning.
