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🔹Reviews from Cognitive Society
It’s the last two days, and Bitcoin is still consolidating strongly, which is a good thing. As long as it holds at 65,000, it will be bullish.
When Bitcoin fluctuated sideways today, the old batch of altcoins did not take advantage, while the FTT batch of altcoins soared. This is the reason for the rotation of sectors, and also because the early altcoins reached a strong pressure point, and the main force waited and watched Bitcoin.
Currently, Bitcoin mainly relies on Bitcoin spot ETFs. This reliance will bring huge additional funds to Bitcoin and Ethereum due to interest rate cuts. Of course, it may also bring huge risks due to the US election and whether the US economy will decline.
Therefore, as long as interest rates continue to be lowered and the US economy does not decline, a 25-year bull market is expected and worth looking forward to. Of course, the risks are that the US economy declines and Trump cannot lose the US election.
Bitcoin's daily chart is at the critical point of double top and W bottom. The key is whether it can stabilize at 70,000 or fall back below 65,000.
As long as Bitcoin can hold steady at 65,000 in the next few days, it will only be a matter of time before it reaches 70,000.
It has been rising for a long time. Choose the direction in the short term around September 30. Don't chase highs. Pay attention to it when it drops sharply. As long as the interest rate is cut in November, the market will gradually get better. The biggest risks at the end of the year are whether the US economy will fall into recession and the US election. These things will be completely settled in December.
The highest point of Bitcoin rebound on September 29 was 66,000, which coincides with the pressure point of 66,500 in the article of Cognitive Society yesterday.
The highest point of Bitcoin rebound on September 28 was 66,500, which coincides with the pressure point of 67,000 in the article of Cognitive Society yesterday.
The highest point of Bitcoin rebound on September 27 was 66,400, which coincides with the pressure point of 67,000 in the article of Cognitive Society yesterday.
On September 26, Bitcoin fell back to the lowest point of 62,700 and was close to the support level of 63,000 in the article of Cognitive Society yesterday.
The highest point of Bitcoin rebound on September 25 was 64,800, which coincides with the pressure point of 65,000 in the article of Cognitive Society yesterday.
This week, BlackRock increased its holdings by 7,808.46 BTC, accounting for 45% of the total net inflow of Bitcoin ETFs.
Lin Chen, head of Deribit's Asia-Pacific business, posted on Among them, BlackRock changed from the previous 0 change to five consecutive days of net inflows, accumulating a total of 7808.46 BTC, accounting for 45% of the total net inflows, which reflects the gradual restoration of buying confidence of large institutional investors this week, and the market. The mood has picked up."
This week, Ethereum ETF increased its holdings by 31,522.88 ETH, and the main seller is still ETHE
Lin Chen, head of Asia-Pacific business at Deribit, said in a post on X: "This week, ETH ETFs as a whole showed a net inflow, with a total weekly net inflow of US$85 million (a total increase of 31,522.88 ETH). Among them, ETHE is still the main seller. As of now, ETHE holds a total of 1,673,190.24 ETH, and has sold a total of approximately 942,039.67 ETH, accounting for 36.03% of the total. In addition, other institutions have shown a net inflow this week, and the overall capital flow has maintained a relatively healthy trend."
📍Interpretation of Cognition Society: Grayscale will have to sell for another four months at this rate, and it is estimated that things will slowly get better in 25 years.
HSBC issues HK$1 billion digital bond using distributed ledger technology
HSBC has issued HK$1 billion ($128 million) in one-year digital notes using distributed ledger technology (DLT), Ledger Insights reported. The structure of the issuance is similar to the $756 million Hong Kong sovereign digital bond issued earlier this year.
The latest digital notes were issued via HSBC Orion DLT, with the local Central Securities Depository (CSD) CMU as the platform operator. HSBC Orion, the HSBC blockchain bond tokenization platform, uses Digital Asset’s DAML combined with Hyperledger Fabric.
📍Interpretation of Cognitive Society: The implementation of technology is the real application.
At 10:00 a.m. EST on October 7 (22:00 BJT), the Delaware Bankruptcy Court will hold a confirmation hearing on FTX’s bankruptcy plan.
On that day, the court will consider confirming FTX's proposed Chapter 11 reorganization plan and its related disclosure statement plan. If the court confirms the plan, FTX will be allowed to pay more than 98% of its customers and unsecured creditors "in full with interest" based on the US dollar price of crypto assets on November 11, 2022.
In addition, according to US media Protos, the compensation may be implemented after three "comprehensive hearings" aimed at discussing the merger of multiple claimants into a unified category, scheduled for October 22, November 20 and December 12.
Zhu Su: Part of the $16 billion allocated to FTX creditors has returned to the market, which is also a large amount of incremental funds
Zhu Su, co-founder of Three Arrows Capital, commented on "FTX's expected distribution of $16 billion to creditors in Q4". Even if these funds cannot be fully returned to the crypto market, it is still a large number, which may imply that it will boost the market.
📍Cognition Society Interpretation: The reason for the huge rebound near December is: FTT's 10 billion yuan of funds landed after the US election, the third interest rate cut
🔹Summary: As long as Bitcoin stands firm at 65,000 and repeatedly hits 70,000, every plunge in Bitcoin is an opportunity for Ethereum to enter the market
May 2024 is the mid-term of the bull market for Bitcoin and Ethereum. Every plunge is an opportunity. Long-term K-line research focuses on Ethereum UNI OP NEAR BLUR and Link Bread;
🔹Short-term data
Disclaimer: The K-line data analysis provided by Cognitive Society is based on data analysis, does not represent any position, and does not confiscate any project party a penny.
🏷Bitcoin
Support: 64600 63200
Pressure level: 66500 69000
🏷Ethereum
2700 2800 is the key pressure point
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2680 2800
Support: 2620 2580
🏷️SUN
The key to whether the rise can be made up is 164
🏷LINK
13.2 resistance level 12.3 11.5 support level
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
A sharp drop is an opportunity, no rise
Cognition Society believes that if UNI wants to take off, it needs to repurchase tokens with profits and then destroy them.
Pressure level: 7.7 8
Support level: 7.3 7
🏷️WIF
2.4 2.8 Pressure level
2.1 2 Support Level
🏷️BLUR
0.22 0.2 support level
0.25 0.28 pressure level
🏷OP
If you want to be strong, you need to stand firm 2
Cognition Society believes that OP around 1.2 is still worth considering
Pressure level: 1.95 2.2
Support levels: 1.75 1.66
🏷CRV
Want to make up for the rise and stabilize at 0.36
0.28 is the key support level
🏷️UN
2.6 2.9 Pressure level
2.3 2.1 support level
🏷️TREES
0.00084 88 pressure level
0.00074 0.0007 support level
🏷1000SATS
0.00038 stuck
0.00027 is the core support level, and it will remain bullish until it is broken.
Extremely volatile, strictly control positions
🏷1000RATS
0.019 is a strong pressure point
1000RATS rebounds to near cost and reduces positions. After reducing positions, reduce the proportion of long-term positions. The fluctuation is too large and most people cannot bear it.
🏷NEAR
5.2 is the key support level, and it is bullish until it is broken
When the price of NEAR23 is around 1, Cognition Society is the only one that reminds you to invest regularly when the price is around 1.3 to 1.
Pressure level: 5.7 6
Support levels: 5.4 5.2
🏷️YUP
If you want to catch up, SOL needs to stand firm at 162. 1 is a strong pressure point.
0.86 is the key support level
AI
The decline is too deep. It’s not that we won’t update, but we can only wait.
If you want to be strong, you need to stand firm at 0.65
🏷BNB
600 660 is extremely important. The key is whether BNB’s weekly line is the second top.
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 590 580
Pressure level: 620 640
Others, wait for more updates
🔹Understanding attitude towards making money
Cognitive Society does not like hindsight
I don’t like those KOLs who claim that they can make a lot of money.
If someone in the cryptocurrency circle could profit from the rise and fall of every coin
Leverage is not about making 10 billion a year
But the second largest exchange on earth saw the market makers manipulate the market, and it only lost billions and went bankrupt.
Form your own trading system and make money within your own cognitive scope. Don't fantasize about making money from every daily rise and fall, let alone the rise and fall of every coin. This person does not exist on the earth, nor does this kind of organization. If such an organization existed, FTX, the exchange that looks after the main backstage, would not have gone bankrupt.
Desire and ability are not equal
The heart can never be at peace
How can you hold on to the coins if you are not calm inside?
Many people always like to rely on other people's promises and guarantees to hold on to their coins when the market crashes.
Banks are going bankrupt. Even some big countries’ fiat currencies are going bankrupt. Evergrande and Zhongzhi Group are bankrupt with tens of trillions of dollars.
Do you think people who promise returns can be trusted in such a high-risk place like the crypto industry?
The charlatan is just talking nonsense. As for the real crash and bear market, have you ever seen those people who advocate the bull market every day?
