[Eternal Fire November 16 Market Data Analysis]

hanheng16890

I. Market Trading Overview

• BlackRock IBIT's trading volume reached US$2.4 billion yesterday, with active buy orders accounting for 43% and active sell orders accounting for 39%.

• Fidelity FBTC had a net outflow of US$176.1 million yesterday, and AKRB had a net outflow of US$100 million. However, BlackRock IBIT data has not been released, and the overall data is incomplete.

II. Rumors of changes in SEC chairman

• FOX Business reporter Eleanor Terrett said that SEC Chairman Gary Gensler may leave after Thanksgiving.

• Gensler is regarded as a cryptocurrency short, and his departure is good for cryptocurrency. If the new chairman is close to the crypto industry, it will be beneficial to the project.

• The old public chains such as XRP and ADA that have been investigated recently have risen significantly.

III. BTC market analysis

• BTC is currently in a range-bound market, with a bottom support of 85,000 points and a top of 93,000 points. It is expected to fluctuate within the 8,000-point range for a period of time.

• ETF funds are flowing out, and the buyer's long energy is insufficient. The limit of this round of Bitcoin market is expected to be between 98,000 and 102,000 points.

• The current market is in the tail stage, and the time cycle is expected to be about one month.

IV. Investment suggestions for altcoins

• If BTC can go out of the range and consolidate the market at a high level, the profit-taking will flow into the altcoin market, and the altcoin will make up for the rise.

• It is recommended to buy altcoins on dips and avoid chasing highs. The altcoin market is fragile, and altcoins are prone to plummet when BTC pulls back.

• Investors who hold altcoins that enter the market at a low level can refer to the BTC price to exit the market in batches to stop profit.

V. Market sentiment and risk warning

• Bitcoin ETF has a net outflow, and the fundamental benefits are basically realized.

• Investors should pay attention to market sentiment indicators. Market sentiment above 80 is crazy, and above 90 is extremely crazy. At this time, you should consider leaving the market.

• Buy when no one cares, and sell when life is boiling. When the market is extremely crazy, it is time for investors to leave.

6. Ethereum market

• The price of Ethereum fell back to around 3014 last night, and the opportunity for catch-up may be next week and the week after next.

• If Ethereum fails to catch up, the room for future rise will be limited. If the price of Bitcoin continues to rise and Ethereum fails to keep up, it may have to wait until next year.