Overall analysis of the crypto market:

The US stock market is currently maintaining a defensive posture with a small decline. The next Federal Reserve monetary minutes at 2 a.m. and Nvidia's financial report after the US stock market closes will be the focus of today. .

For current US investment institutions, under the premise that the macroeconomic sentiment has not changed much, Nvidia's current financial report may be greater than the short-term influence of the Federal Reserve.

In fact, Nvidia's financial report not only allows people to see the current valuation and future of technology stocks, but also represents the current US technology stocks as the leader of AI. The standard for judging whether there will be a better future. At present, Goldman Sachs said that hedge funds have reduced their investment in technology stocks and shifted their investment focus to more low-valuation companies that benefit from artificial intelligence.

The Fed's monetary minutes at midnight basically did not raise or lower interest rates, which is the default data of the market. The focus is whether the speeches of Fed officials after the announcement will cause too much volatility in the risk market.

The crypto market still relies on news before the final decision of Ethereum's ETF on the 23rd.

Bitcoin:

Upward resistance, daily 70,900, weekly 72,600,

Fall back in the short term, pay attention to 4-hour 69,000, daily EMA7 68,000 and 65,000 technical dense support area.

RSI index is around 67, short-term price rise should pay attention to the risk of decline, touching 70 may trigger overbought callback sentiment.

Ethereum:

Upward short-term resistance, around 4050-4100, pay attention to the resistance level,

Fall back to support, pay attention to the daily 3655 and monthly support 3550,

RSI index 78, basically has reached the overbought callback emotional range, pay attention to the risk of decline.

At present, Bitcoin and Ethereum will not have much fluctuation before the final decision of ETF comes out tomorrow. After all, news and sentiment are the main factors at present. Pay attention to whether the speech of the Federal Reserve tonight and Nvidia's financial report will have a greater impact on the risk market. If not, then wait for the situation after the ETF is passed. Pay attention to the support in the short-term decline. The short-term break of the several supports mentioned above will not directly decline.

Market data:

In fact, judging from the current data, today's data does not have much significance. After yesterday's emotional rise, the market fell into a conservative downturn as the ETF resolution period approached. The increase and decrease in market value and trading volume have all deteriorated. The market is currently waiting for the results. Today's data statistics are temporarily used as a record.

However, in terms of funds, it can be noted that the retained funds in the market increased by 400 million, and the current market value is 161.3 billion, of which Asian funds had a net inflow of 203 million, and the US funds decreased by 133 million. However, according to the current market situation, US funds may not be outflowing, but may be directly involved in the transaction, resulting in a short-term decrease in the market value of USDC. But overall, the flow of funds in the US is not too healthy, and the inflow of external funds is relatively cautious. It seems that they are waiting for the final result of the ETF.

That's all for today. This week, the main narrative has changed from the original macroeconomic aspect to the ETF theme. Many people believe that the current crypto market lacks a main narrative. In fact, from another perspective, isn't the ETF application process the main narrative of the transformation from decentralization to centralization? #以太坊ETF批准预期 #ETH $BTC $ETH