Is Wall Street back in the crypto world? Two turning points indicate a possible market reversal. Is now the time to enter the market? What are the risks in the current market?

Recently, the cryptocurrency market has fallen sharply, with 160,000 people liquidated within 24 hours and the total market value evaporating by 300 billion. The sell-off was mainly caused by miners.

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The inex report pointed out that the sell-off was not caused by ETFs, but by the halving of Bitcoin production. The original electricity fee could mine two BTC, but now only one can be mined, causing miners to sell all of them to pay for electricity. Compared with before the halving, the current inefficient miners are facing difficulties and are forced to sell.

Analyst Willy believes that the market can only recover after the weak miners are eliminated. Compared with the 10% drop in Bitcoin, the doubling of mining costs has a more serious impact on miners.

Bitcoin is at a critical moment in the ascending triangle. If this line of defense can be held, a full-scale counterattack may be ushered in, with the target of $69,000 and then seeking a breakthrough. The rebound has already begun, and everyone needs to remain vigilant. Shuqin led everyone to increase their positions at the support level of $65,000, and the result was satisfactory. The options market shows that Wall Street is optimistic about Bitcoin. Among the $2.3 billion worth of Bitcoin options expiring at the end of July, the ratio of calls to puts is 2:1, and the main strike prices are concentrated at $100,000 and $80,000, with an average of $85,000. Although this seems to be a high target, if Bitcoin can break through the previous high before the end of July, it is likely to rise sharply, and reaching $85,000 is not outrageous. Most option traders expect Bitcoin to successfully break through before the end of next month.

The average value of put options is 60,000, so the downside is limited, but the upside potential is huge. Small coins have experienced the expected C wave decline, the decline is slightly larger than expected, but the overall trend is correct. These coins have fallen 40%-50% from their previous highs, which is in line with the previous investment strategy. Although they did not copy the lowest point, it is still wise to buy at a relatively low point. Compared with other high-level investors, the current performance is still good, the market trend has not deviated significantly from expectations, and the advantages accumulated over the long term will grow like a snowball.

The returns from investing in cryptocurrencies vary significantly, and the timing of entry can affect profits. For example, when the price of Ondo rises to 2u, entry with 1u can double the profit, while entry with 1.5u will only yield 30% profit.

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Although the cryptocurrency market has fluctuated recently, there are two good news: the Ethereum ETF is expected to be listed on the New York Stock Exchange ahead of schedule on July 2, boosting the market; the PCE price index that the Federal Reserve is paying attention to is about to be released, and it is expected that inflation may decline, which is good for the market.

The market's expectation for core PCE is 2.6%, lower than the previous value of 2.8%. This data is crucial to determine whether to cut interest rates in September and the number of rate cuts this year. Previously, positive CPI data had caused the price of Bitcoin to soar from 66,000 to more than 70,000. If inflation continues to fall, it may be seen as a turning point in the Fed's policy, which is more likely at present. Therefore, the future of the cryptocurrency world depends on these key data.

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