Crypto market update May 6-May 12, 2024

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Stable coin cash flow has not improved, stable coin withdrawals are more than 4B$, the current total balance is equal to the beginning of March.

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Market liquidity is still low around 4x-6xB$

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BTC data: - After depositing BTC to exchanges at the end of April and beginning of May, there are still deposits and withdrawals but the volume is not significant, we have not seen a strong withdrawal from whales (showing that this is not the price range yet). which the whales find salty)

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Over the past few days, money has flowed through different trends (memes, AI, oracles,...)

===> Money comes in irregularly, you limit ft. If it comes out, you will be killed immediately. Do not go long/short at this stage.

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Conclusion: The market fell into a sideway correction, market liquidity was low, cash flow was withdrawn.

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Advice: Trade carefully, limit futures at times like now. If you have a profit, it's best to close it. This is not the time to hold on for long.