Today's market data interpretation: #BTC☀ The volume of the rise is insufficient, the copycats are actively following the trend, and the funds in the market continue to settle. Is the purpose of the funds settling to "take over" at a high level?
With the rise of BTC, the trading volume has increased, but the volume is still insufficient. At present, the rise of BTC has led the copycats to rise slightly.
During this period, the volume is insufficient, and the breakthrough still faces selling pressure and turnover. I also said the same thing last week. At that time, the volume of turnover at the key position caused a short-term decline in the market.
The funds in the market continue to accelerate the entry and sedimentation. At present, the total market value of stablecoins has increased by 300 million within the day, and is currently 168.9 billion.
USDT: The official website data is 116.993 billion, which is an increase of 107 million compared with yesterday, which is basically the same as the data website. It shows that most of the funds are directly deposited after entering the market, and with this rise, the transaction volume of USDT has a poor increase and is not active enough.
USDC: The market value of the data website has increased by 80 million, and the transaction volume has increased slightly by 30%, and the inflow sedimentation has also been maintained.
Summary:
Although the price has risen, the data shows that the risk is still high. We should still pay attention to whether the market can withstand the pressure after the key points of large-scale turnover. If the buying is insufficient, it will still fall back. The current position is temporarily determined to be around 63,400.
Many people are overly optimistic because of the rise. In fact, if we look at it from another angle, a large amount of stablecoin funds have been deposited in the market for several consecutive weeks this month. Didn’t buy it before 60,000? Don’t buy it now? Will they wait until it rises to 70,000 before they come to "take over" for us?
Or do they have other purposes?
If you have been paying attention to the data I update, you should understand what this may mean!
