Bitcoin chain data deteriorated, what happened? Why are some people selling? And what has Sun Yuchen, the billionaire whale, done recently?
Get ready to buy! These three coins will have great news, smart money is quietly entering the market, and the turnaround depends on them! So what happened in the market? Let's follow Shuqin to find out.
The first is the Bitcoin on-chain data.
There is indeed a little selling pressure now, but it is really just a little bit. The general trend of the Bitcoin inventory on exchanges is still decreasing. The recent pullback is more due to the selling of miners and retail investors, especially because of the Bitcoin halving. Miners are selling their inventory to pay for higher mining costs and update equipment. This is not surprising, because every time the halving does not increase, it is dragged down by them.
But you have to know that the miners' inventory will be sold out sooner or later, and the impact of the reduction in Bitcoin production will gradually become apparent, so there is no need to be overly nervous.
And you know what? The more Bitcoin consolidates, the more excited Shuqin becomes!
Because if you look at its past trends, you will find that it will consolidate for two or three months before each big surge. From 2017 to now, I have really experienced this situation about 10 times. From the initial doubt about life to now, I get very excited every time it goes sideways for a long time. This is actually the process of transitioning from a newbie to an old investor. So don’t be afraid of sideways trading, because believe me, the longer the sideways trading is, the higher the vertical trading will be.
Of course, some people are very worried, saying, look, Bitcoin has formed a big double top, and is it going to be doomed.
Well... Shuqin tells you that you can interpret the K-line at will. Look at this. Does it still look like a head and shoulders bottom surge pattern? Is the current callback forming the right shoulder bottom and then taking off?
Therefore, the same market can be interpreted in many ways, each with its own reasons. Therefore, as an old investor, I still pay more attention to the on-chain data hidden underwater and pay more attention to the movements of the big whales. As a whole, they are still hoarding coins on a large scale.
No, according to the latest data:
Nasdaq-listed company MicroStrategy bought the bottom of the market when the market plummeted this week, and once again bought 12,000 bitcoins, bringing its total holdings to 226,000.
And Justin Sun also quietly transferred 90 million U to Binance to enter the market, so you can see that these hundreds of billions of smart money are gearing up and buying at the bottom.
Now that we have finished talking about the overall market, let’s take a look at the important updates of several small coins.
First of all, Floki, the dog coin, has just been included in the coin listing roadmap of the second largest platform in the United States, which means that it will be listed in a few weeks, which is a very good thing.
In addition, the Floki project team also announced that a trading robot will be launched on June 25, which will facilitate transactions for the majority of users, especially those on Telegram, allowing users to purchase Floki more conveniently and quickly.
It can be said that this Tugou is a rare project that has a project party that has been operating and will continuously release favorable news to pull up the market. It is not like the mainstream Tugou, which has no project party at all, only retail investors themselves, and the pulling of the market depends entirely on telepathy.
Another major advantage of this coin is that it can be pledged and earn Tokens, with an annualized rate of nearly 17%, which greatly increases its attractiveness. More importantly, it will also promote lock-up, significantly reducing the number of tokens circulating in the market, thereby further increasing scarcity.
In addition, he also has the investment of the billion-dollar giant DWF. Basically every few months he would announce the purchase of tens of millions of Floki to boost the stock price, and each time it would cause it to surge by more than 50%.
Therefore, this coin should not be underestimated. We also bought some of it at the bottom during the previous crash, and now we have made a lot of money just like Ondo.
In addition, I think IO can also be ambushed.
Because it is different from those vague AI hypes, it has very large demand and specific applications.
After all, graphics card computing power mining is definitely a hot spot in this bull market. Various AI apps need computing power to generate pictures.
IO collects idle graphics cards from all over the world to rent computing power, so it is a project that can really make retail investors make money and is eager to use it. It is not like some AI coins that are just hyped concepts every day but have no specific applications.
And did you know that NVIDIA releases a new generation of graphics cards every two years. The last time was the 40 series graphics cards in the fall of 2022, and this time it will release the 50 series graphics cards this fall.
It will also be the start of the school year, when a bunch of freshmen will assemble computers and the number of people using graphics cards for mining will also soar, so IO and RNDR will be very popular at that time. Therefore, everyone can configure some as appropriate and buy them when no one is interested.
Pepe is now suppressed by this trend line, but it is only a matter of time before he breaks through. By then, he will soar into the sky and start the fifth wave of Elliott's rise, aiming at 0.022.
Traders on the right side can also wait for Pepe to break through this line before starting to go long, which is a more stable option.
For ultra-short-term trading, you can consider taking profit near the trend line, playing with the swings, and then picking it up after a pullback of about 5% to 10%.
I have already mentioned this in the community, asking everyone to take profit at 0.0122. Sure enough, it really rose to that level on Thursday, and then it also smoothly adjusted back to more than 0.01 points. Some people even went short a little bit, and the decline was 15% without considering the leverage. So as long as you see this line I sent, you can make money from this wave in the next two days.
Shuqin will update these operations in real time, and there are many opportunities to operate every day. Babies who are interested can come and have a look.
Okay, let’s get back to the topic.
I think BNB is also very good, because it has broken through before, so the upward channel has been opened, and there is no resistance to go up. Now the breakthrough and retracement is actually a very good opportunity to enter the market, and this coin is protected by Binance, which is very stable.
The most important thing is that you can continue to mine by holding BNB, like in the past two weeks there were IO and Lista, and even a Hodler airdrop yesterday. I feel embarrassed to receive money every day.
Therefore, the increase in BNB is not inferior to Bitcoin, and at the same time, there is an annualized mining return of over 50%, which is really very good.
Another good news in the cryptocurrency circle is that the selling pressure on FTX is finally coming to an end.
Because the PWC liquidation team issued a statement saying that FTX compensation has entered the next stage.
Users can prepare to file a claim, and they can get a compensation of about 119% to 143%. Most importantly, this means that FTX's tens of billions of selling pressure is about to end, especially Sol's. Maybe the recent plunge was caused by FTX's liquidation.
After receiving these billions in compensation, retail investors will most likely return to the cryptocurrency circle. After all, the bull market is about to come, which will reverse the previous net outflow of tens of billions into net inflow, which will be a double benefit.
The next hearing will be on June 25th, and those who are interested can go and listen.
Finally, don’t forget to like and follow Benqin, let’s achieve financial freedom together in this bull market!
Bye~ ^_^
