Weekend market data: Update on key US capital movements,#BTC☀ The rebound alone did not trigger any market reaction!
Let's record today's market data. The current rebound of BTC is independent and has not given#ETH🔥🔥🔥🔥 What driving force does the altcoin bring? In fact, the market value of ETH and the altcoin has fallen slightly.
The proportion of BTC increased again, and the proportion of ETH altcoins decreased. According to the data, the sentiment of altcoins over the weekend may not still be depressed, which can be used to judge the current risk sentiment bias.
The overall trading volume has declined, which is in line with the normal market conditions over the weekend. BTC trading volume has dropped by one-third. This rebound is not accompanied by an increase in volume and has poor stability.
Key funding:
The market value of stablecoins on the exchange increased by 800 million in a single day again, and the current total market value is 168.4 billion.
USDT: The official website data is 116.836 billion, an increase of 123 million compared to yesterday, and the data website shows that the market value has increased by 421 million, indicating that the current increase in USDT stocks on the market is not only from off-site inflows, but also accompanied by the retention of on-site funds after the completion of transactions.
USDC: Official website data updated. As of August 15 (this Thursday), 2.2 billion USDC were issued and 2.2 billion were destroyed in the U.S. within 7 days, which means there was basically no inflow. The multiple USDC outflows and inflows in this week's data statistics can basically be confirmed.
However, the current data website shows that the market value of USDC has increased by 249 million from yesterday to today, and the trading volume has decreased by 33%. There should still be capital inflows over the weekend, and at the same time, the on-site trading funds are retained after the transaction ends. The situation is basically the same as that of USDT.
Summarize:
BTC’s rebound in the early morning may have rekindled the hopes of the bulls, but unfortunately, BTC rose alone, while the copycat ETH did not follow suit. Instead, it fell, accompanied by an accelerated weakening of trading volume, indicating that the rebound did not bring much turnover, and the rebound was not stable enough. Once it touches 60,000, it is estimated that it will still trigger a wave of selling pressure and fall back.
A large amount of funds have accumulated and settled in the market, and the increase has accelerated, which shows that funds are also waiting for opportunities. This opportunity is definitely not to chase the rise, because the funds did not decrease effectively above 60,000 in the last rebound. The possibility is more likely to be waiting for bottom fishing, or funds will slowly buy in the range of 50,000-60,000. Both are possible.
In the U.S., the capital flow this week is obviously not optimistic enough, with funds flowing in and out, indicating that the attitude of U.S. capital holders towards the crypto market is also wavering, with a greater wait-and-see attitude than a trading impulse.
The current data still matches what I mentioned in the market, which shows that there will be a volatile downward trend in the next period of time.
$BTC
