@3Friends The weekly report focuses on market trend analysis, macroeconomic events, cryptocurrency dynamics, technical analysis and contract position interpretation. Daily push covers BTC/ETH spot ETF trends, important global financial events, cryptocurrency market value changes and sentiment index, and provides accurate operation suggestions through multi-period technical analysis to help investors seize opportunities in the market. #3friends

⚠Timeframe: September 16, 2024 - September 22, 2024

1. Net inflow and outflow of US BTC/ETH spot ETFs

From September 16, 2024 to September 22, 2024, the Bitcoin spot ETF had a net inflow of $397.04M (capital inflow); the Ethereum spot ETF had a net inflow of -$26.26M (capital outflow).

(BTC spot ETF | Data source: sosovalue.xyz)

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(ETH spot ETF | Data source: sosovalue.xyz)

Currently, the total net asset value of Bitcoin spot ETF is US$57.47 billion, and its market value accounts for 4.63% of the total market value of Bitcoin, with a historical cumulative net inflow of US$17.69 billion;

The total net asset value of the Ethereum spot ETF is US$6.92 billion, and its market value accounts for 2.26% of the total market value of Ethereum, with a historical cumulative net inflow of -$6.07M.

2. Cryptocurrency Market Overview

Total Market Value

Current market value: $2.19 trillion

Weekly change: The total market value last week was $2.04 trillion, an increase of $0.15 trillion, with a change of 7.35%.

Market share

  • Bitcoin Market Share: 56.49%

    Weekly change: Bitcoin's market share was 56.83% last week, down 0.34 percentage points.

    Ethereum Market Share: 14.15%

    Weekly change: Ethereum’s market share was 13.51% last week, up 0.64 percentage points.

Total market value of fiat-backed stablecoins

  • Current total stablecoin market value: $165.757 billion

    Weekly change: $164.749 billion last week, an increase of $4.937 billion this week, a change rate of approximately 4.74%.


USDT and its market share

USDT.D:5.13%

Changes of the week: Opened 5.48% this week, down 0.35% so far, down 6.39%

3. Market capital flow

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Rise and fall distribution

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(Rise and fall analysis | Data source: https://cryptobubbles.net/)

4. Market sentiment

Currently, the Greed Fear Index (FGI) is 52 and the market sentiment is Neutral. The change of the Greed Fear Index in the past 24 hours is -2 points and the 7-day change is +1 point.

Copycat Index

The Shanzhai quarterly index is 33%. The index has soared and stabilized above 25. This week, the index reached a high of 45. The market sentiment of Shangzhai has risen.

Quarterly Index of Alternatives

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Shanzhai Annual Index

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(Altcoin index | Data source: www.blockchaincenter.net)

5. Contract market data

  • Contract Open Interest

    • Current total holdings: $63.035 billion, with an increase of $8.59 billion this week, a growth rate of 15.78%; BTC holdings are currently $34.713 billion, with an increase of $3.777 billion this week, a growth rate of 12.21%

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6. Technical analysis of BTC market and strength and weakness of mainstream currencies

  • BTC Weekly Market Review

  • Changes in one week: Open 59132.00 High 64133.32 Low 57493.30 Close 62753.93 Increase 6.13% (3621.93) Amplitude 11.23%

  • Large cycle: 1W/1D/12H

  • 1W, bulls weakened. Currently, the bulls have weakened for the 13th week. The strength of the bull weakening continues to shrink, which is good for the bulls. Among them, the bull-short dividing line has been raised from 44847 to 45170, and a selling point that was about to be formed on the weekly line last week was destroyed.

  • 1D, shorts weakened, shorts end, shorts weakened, shorts weakened, good for longs. So far, this short has gone through 152 cycles (days), long-short dividing line (in space): 60776 raised to 60994, long-short dividing line moved up, the current price is at the long-short dividing line.

  • 12H, from the end of the short position to the long position, the long position has experienced 8 cycles. The long-short dividing line is 59139-60170

  • Small cycle: 4H/1H (intraday)

  • In the 4H, this cycle has experienced several important turning points for bulls. On September 16, the bulls were blocked, and on September 18 and September 21, the bulls continued to accelerate. Among them, the bulls accelerated smoothly on September 18, and the price ranged from 59300 to 64120. At present, the 4H bull trend is

  • 1H  , experienced 4 market trends:

  • September 16 8:00-September 18 13:00, the bears weakened and turned to bulls.

  • At 23:00 on September 18, long positions turned into short positions;

  • At 03:00 on September 19, shorts turned into longs, triggering a large bullish fluctuation.

  • At 04:00 on September 22, the short position started, and the cycle is currently in the short trend direction.

  • This week is the turning point from short to long.

    Current Situation


    • Large cycle: 1W/1D/12H

    • 1W, bulls weakened, and now it is the 13th week that bulls weakened, and bulls gradually weakened; the strength of weekly bull weakening decreased, and the recent selling point of this cycle was destroyed.

    • 1D, shorts weakened, shorts end, there will be a turning point in the cycle in the near future, you can focus on it. Long-short dividing line (in space): 60994, the long-short dividing line moves up, and the current price is above the long-short dividing line.

    • 12H, bulls strengthen, bullish direction early. Has broken through the upper pressure of 62600, the highest price is close to the first tp 64200, currently the highest position is also the profit range

    • Small cycle: 4H/1H (intraday)

    • 4H, bulls weaken

    • 1H, bears strengthen, bearish.

Overall, the current market is that the short-term bulls are facing resistance and are in adjustment, but the bulls have not been destroyed. The long-term bears continue to weaken.


7. The strength of the main currencies on September 22 (BTC/ETH/SOL/BNB/PEPE)

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