Yesterday, $BTC fell below the low of 92200 on the 20th. I thought it was a script of bottoming out and rebounding, but I didn't expect that the plot has not been completed yet. At present, Bingtang personally believes that if the big cake can fall to 84K again, it will be an excellent opportunity to buy the bottom in the mid-term. At this stage, we can only continue to wait and wait for the market to give a deeper lesson.
Let's talk about $ETH . It has been a bit out of touch recently. Because it has been oversold earlier, I haven't cried with the big cake in the past two days. The support of 3000-3100 seems very tenacious. Having said that, Ethereum always seems to be particularly active in the first quarter of each year.
This is also a problem left over from history. Bingtang also hopes that there will be a decent rise from January to March next year. After all, institutions have bought so much, and they are just short of pulling the market. However, the data is more telling. Yesterday, 3,000 Bitcoin ETFs flowed out of the US Bitcoin ETF, while 16,359 Bitcoin ETFs flowed in. The style is completely different.
What's more amazing is that in the early hours of this morning, 450 million USDC were issued on the Ethereum chain, which means that there is a continuous flow of buying funds. If Ethereum breaks through 3,400, it is very likely to stabilize, and it may even start a show of operation.
Looking back at Bitcoin, it is still tied to the US stock market recently. It falls when the US stock market falls, and it laughs when the US stock market rebounds. Unfortunately, the holiday is approaching, the market lacks major news stimulation, and the overall liquidity is still at a low ebb. Bitcoin can only go with the flow, and back and forth fluctuations have become the norm.
But there is a phenomenon worth noting. Although the turnover rate increased on working days yesterday, the trading volume did not increase significantly, and it was almost the same as the previous working day. This shows that either a large number of turnovers occurred off-site, or these turnovers have little to do with prices.
And from the data, the dominant turnover is now mostly loss-making chips, that is, many people have cut their losses and left the market. In fact, we have already anticipated the downward movement of support.
After all, in the stage of liquidity shortage, support is always slippery than expected. We can't be too serious about it now. It won't be too late to observe carefully after liquidity is restored next week.
