Da Meng Briefing

GBTC and ARKB Funds Net Outflows

- Yesterday, Grayscale Bitcoin Trust (GBTC) and ARK Bitcoin Fund (ARKB) saw net outflows. This may reflect that investors are cautious about the short-term prospects of the Bitcoin market or are adjusting their portfolios.

VanEck Increases Investment in Promoting Spot Bitcoin ETF

- Asset management company VanEck is actively promoting its spot Bitcoin ETF. This shows that VanEck is optimistic about the long-term Bitcoin market and hopes to attract more traditional investors to the crypto market through ETF products.

SEC Chairman Did Not Clearly Respond to Whether ETH Is a Commodity at the Hearing

- The Chairman of the U.S. Securities and Exchange Commission (SEC) did not clearly answer whether Ethereum (ETH) is a commodity at a recent hearing. This uncertainty may continue to affect the market's regulatory expectations for Ethereum and other cryptocurrencies.

adidas reaches cooperation with Base Network

- Well-known sports brand adidas announced a cooperation with Base Network. This shows that mainstream brands are increasingly interested in blockchain technology and decentralized applications, further promoting the popularization of blockchain technology in practical applications.

DeFi protocol Particle completes a new round of strategic financing

- The decentralized finance (DeFi) protocol Particle recently completed a round of strategic financing, with investors including well-known investors such as dingaling. This financing will help Particle continue to develop its DeFi products and expand its influence in the market.

Notes:

BTC

Data: The expected data of the one-year inflation rate in the United States will be released in the evening. The current market expectations are positive, and the probability of following the positive CPI is relatively high

Technical aspects:

1. The rebound of BTC bulls is weak. It is necessary to pay attention to the possibility of breaking the 66,000 low support again.

2. The recent negative correlation between BTC and the US dollar index is obvious. Under the strong US dollar, the risk of BTC breaking is increased.

3. According to the Fibonacci drawing tool, the support and pressure of BTC correspond to it. The support needs to pay attention to 66,000 and 64,000, and the resistance focuses on 68,000.

Trading strategy:

Short order: short near 68,000, stop loss 69,000, target 66,000-64,500 (short at highs)

Short order: short after breaking 66,000, stop loss 67,000, target 64,000-63,000 (pending order)