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Affected by the hawkish policy of interest rate cuts, the net inflow of Bitcoin ETFs, which lasted for more than a month, turned into a net outflow of about 390 million dollars last week. In contrast, Ethereum ETFs performed brilliantly with a total net inflow of 350 million dollars... This shows that due to the impact of policies, the main players have begun to transfer the risk of BTC or avoid part of it in advance. Therefore, in the subsequent market, I maintain the previous view and continue to be optimistic about Ethereum outperforming Bitcoin's exchange rate in January... The recent rebound in the exchange rate can also illustrate this point..
Tonight, pay close attention to the movements after the U.S. stock market opens. Personally, I expect that this week, with the end of the year in Europe and America, the off-market new liquidity will gradually recover, so I am relatively optimistic about the overall performance of the coin price this week. Altcoins, due to recent losses, need to wait for the big brother and second brother to break through upwards before welcoming a thaw..
An important piece of news this week is that the compensation of 16 billion dollars from FTX has begun to be implemented one after another, most of which are cash (USDT) payments. Regardless of its significance or practicality, it is undoubtedly a positive for the market. Even if only part of it flows back, it can boost a lot of confidence in the market..
From the candlestick chart, although Bitcoin's exchange rate has decreased recently, the larger trend is still on the upward trend line, and we need to wait for the recovery of liquidity. Based on the above inference, the fastest rebound from oversold conditions will occur this week. Support is around 92800, with significant support for the large level around 90000 still strong. These two points serve as references for reducing positions and entering points for contracts.
The strategy remains to buy low. Currently, no short positions are taken.
