Regarding this ETF application, I personally am not optimistic about it at the moment!
In fact, all the positive sentiments come from the Ark ETF incident. The female stock goddess of Ark has been promoting through the media that she or other institutions can pass the ETF application, and she has continuously released positive sentiments. But now this matter has been being speculated outside the market, thereby driving up the price of BTC. In fact, my overall idea remains the same, and it is still mainly short selling at high prices! Let me ask, if you are really confident that it will pass, why should you hype up your emotions in advance? Is this a reminder to everyone to make money? If the ETF is approved, institutions will need to spend money to buy the pie. Should we let retail investors buy it first and then buy it themselves?
As of the time of publication, the current BTC price has reached around 29,800. The market has been silent for many days. Yesterday, it finally pulled up. The price reached a maximum of 30,258, crossing the 30,000 mark in one breath, breaking the unprecedented trend in the past two weeks. What a boring board! Although it broke through the 30,000-point mark, it did not effectively stand firm and then fell back quickly!
Yesterday's rally also successfully stimulated some trading sentiments in the market. The 24-hour contract holdings across the entire network reached 15 billion. Compared with the previous few days, the trading volume has indeed increased a lot. But the power of bears is still exerting force. Yesterday's rise was driven by forces from the West, but trading in the Asia-Pacific time zone is still sluggish!
8/8 BTC market analysis: Everyone is watching, can CPI drive the market again?
Is this feeling familiar? The situation is still similar to last week. The market has gone around and seems to have returned to the starting point. So, last week was affected by the non-agricultural data. Although it did not bring much movement to the market, this week it is CPI again. Are you still looking forward to this?
BTC is currently around 29,200. In the early morning hours, BTC began to fall rapidly to around 28,700, but then stopped falling and rebounded. The successive increases pushed the BTC price to around 29,200 again and triggered shocks. However, day trading volumes have continued to decrease recently, and the Asian time zone seems to be less interested in BTC trading, causing market liquidity to decline again.
Market trading volume is still sluggish, and most people are in a wait-and-see mood. No one is in a hurry to take action. It seems that the embarrassing situation of last week has returned. Judging from the disk alone, a wave of hits in the early morning just reached our expected position of 28800, which is considered a snack! The current support at 29000 is not very strong, and there is nothing worthy of special attention on the market for the time being!
CRV, which everyone was more concerned about earlier, is currently reported to have been refunded after being hacked, which has also brought a wave of emotional benefits to it. However, this time CRV was attacked and suffered losses, and the project team continued to sell tokens to remedy the situation. Although the temporary outcome is good for now, the biggest damage is to its credibility!
The market has gone back to its original point after a day. As of this writing, the current BTC price is around 29,200.
Last night was also expected to usher in a wave of rebound, giving those friends who have not entered yet a chance. However, it is a pity that last night’s rise was mainly concentrated in the Ethereum pie, while other altcoins did not show any performance. Obvious trends.
Let’s talk about the non-agricultural data in detail tonight. Last month's non-agricultural data was 20.9, and this time the expected value is 20. I personally predict that the released data will be greater than the expected value and the previous value. Judging from the data, the data in May was 30 and dropped to 20.9 in June. The data dropped significantly, reflecting that the U.S. economy is in recession, and the Federal Reserve has also adopted a corresponding interest rate hike policy. However, due to the larger decline in the previous cycle's data, it is unlikely that there will be a larger gap again in this round's data. Although the U.S. economy has declined, it will not be rapid.
8/3 BTC market analysis: Put on your gloves and get ready to punch hard!
Yesterday, BTC once rose to around 30,000 and then fell by 1,000 points. As of now, the price has reached around 29,060. The overall market trend is weak, in line with our expectations yesterday. But what needs to be paid attention to now is whether this is a short-selling behavior, or whether it is a natural fall due to the lack of rising factors.
The reason for yesterday's rise is that the market needs some time to digest the short-term sentiment, which promotes the short-term rebound. In addition, the purchase of BTC by MicroStrategy also brought enthusiasm to the market, pushing the price to touch 30,000 points. However, the market lacked more driving factors to the upside, so prices retreated.
Overcome confusion and explore the direction of your heart!
Are you stuck in the confusion of currency selection and can't find your direction? Is the direction you want to choose blocked by confusion and you can't see the road clearly?
Some people walked all the way from the market and complained that their clothes got wet while walking. Some people found another way and stepped on the hot spots to overcome the obstacles!
I didn’t want to get my feet wet or get my shoes dirty, and I was even more afraid of the vast ocean ahead of me!
Xiaobai behind me laughed at me and said that the water here is shallow and if you turn back the way you came, it will be smooth all the way. I am unwilling to do so. You don’t know how much I have gone through to get to this place!
Judging from today's market, the downward trend is still expected to continue to weaken in the future. I have always said before that the current market is still shorting on rallies, so the next goal is still to focus on shorting. Last week we I have predicted the BTC market this week. 28500 is a key position. The two downward attempts failed to effectively break through, so it will continue to fluctuate back and forth in this range in the future!
What we currently see in the progress of CRV is that the founder repaid the loan of US$17 million by continuously selling tokens at 25% below the market price. However, there is about 90 million left in the unpaid loan, and when the interest rate reaches 85%, there is still close to 10 million to be repaid. , I guess I will continue to sell it at a low price! #CRV
After BTC rebounded in the early morning, it quickly rose to the 30,000 mark at 7 a.m. and then fell back again. MicroStrategy’s announcement to sell shares to continue buying BTC has attracted market attention, but uncertainty remains about the true meaning of this move.
MicroStrategy plans to sell 750 million shares to buy Bitcoin, and many saw the news as a positive. The company is a technology company that has been active in the encryption market in recent years and currently holds 150,000 Bitcoins. MicroStrategy lost approximately US$30 million in the second quarter due to the retracement of the BTC market. If the company continues to buy BTC and drive the overall trend, this loss may turn into profits in the short term. However, it should be noted that the increase in BTC price may also be an attempt to neutralize costs and ship. In addition, it cannot be ruled out that other capital may be eyeing micro-strategy, and they may raise the price to ship to micro-strategy companies. This is just a guess and needs to be taken with caution.
8/1 Market analysis: The direction is out, all in?
The current BTC quotation is around 28,930. The market experienced a volatile decline overnight, failed to rebound and stabilized above 29,000, and further accelerated its decline and touched around 28,680. The previously predicted opening of the downward channel has occurred, and the rate of decline may accelerate, especially when news problems frequently occur.
On the news front, there are some key issues:
1. CRV faces liquidation: CRV was attacked, resulting in a loss of 40 million US dollars, and may face liquidation issues, which may have a chain impact.
2. The Base chain was attacked: The public chain and its projects issued by CB, the world's second largest exchange, encountered problems. Some projects were withdrawn from the pool and became stuck. The Base public chain was also attacked, causing many projects to be forced to shut down, which may trigger the market unstable.
CRV loans on Fraxlend faced potential liquidation issues and prisoners’ dilemma, causing market panic and causing Curve’s total locked value to decrease. However, with sound strategy and continued effort, Fraxlend's problems can be resolved without having to sell CRV.
The cryptocurrency market has always been full of uncertainty and volatility. Recently, CRV loans on Fraxlend have encountered a series of challenges, causing market panic. However, there is a solution to this problem. This article will analyze the potential liquidation problem and prisoner's dilemma of CRV loans and explore possible solutions.
7/31 market analysis: Don’t be impatient, let the bullet fly for a while!
As of the time of publication, BTC quotes continue to be around 29,400, with less fluctuations compared with last weekend. The market has returned to its original position after a week of shocks. The bottoming out of 29,000 in the early morning is regarded as a success in building a bottom, and the market may turn around in the short term.
At present, the overall trend of BTC is still within the range of 29600-29000, and the downward channel has not yet been broken. To confirm the breakthrough of the downward channel, the market needs to remain near 29600-29800. The market's rebound height may gradually decrease over time. From a technical perspective, the market is still in a downward channel.
Some people are optimistic about whether the market has successfully bottomed, but objectively speaking, from the 4-hour chart, the market continues to fluctuate around 30,000-31,500, and has maintained a range around 30,400-29,800 for nearly 9 days. The so-called bottom may not have been effectively supported, and the market fell into a downward trend at a critical point.
"DeFi hacker attacks spark market concerns, BTC stabilizes at $29,000, LTC halving triggers expectations of a rally"
DeFi exchange Curve Finance was hacked, and hackers allegedly stole approximately $41 million worth of cryptocurrency. Most of the other top ten non-stablecoin cryptocurrencies were also trading lower, with TRX the worst performer. The incident has raised concerns across the market about future trends.
Although after a round of decline in the early morning, BTC is still firmly standing above 29,000. In fact, we have already given the idea last week. First of all, for the current market, it is still more short than good. As for the reason, I have also mentioned it before The blog post mentioned it many times. It is expected that the volatility of BTC will show a good increase from the end of the year to next year. In addition, LTC (Litecoin) will soon usher in the third halving, which may bring about everyone’s FOMO mood, thus driving a round of Rise in currency prices.
I just summarized several reasons why contracts will lose money!
1. Entry point: When making a contract, the choice of entry point is very important. Timeliness requires us to choose to enter the market at the right time. Lack of a good entry point will lead to reduced returns or even losses. Therefore, learning to grasp the right time to enter the market is very important to whether you are profitable. For example: Sometimes I will tell my friends that I will squat at a certain position until early morning or something. This is indeed true. If there is no good entry position, then you know that it is a unilateral market. , then you will have no profit, or your profit will be lower than others, and even worse, you will lose money as a result.
7/29 Market Analysis: The downward channel has been opened, where are the short-term opportunities?
BTC is currently in a state of sideways fluctuations, and the downward channel has been opened, but this does not mean a unilateral downward trend, but a more volatile downward trend. There is obvious buying support near 29,000, and the selling sentiment decreases near 29,000. At the same time, there is strong selling pressure near 29,600 above. The trading volume shows that the shock range controlled by the main force still exists, and within this range, even if the trading volume is low, there can be an increase of 1-2 hundred.
Judging from the news, there is currently no obvious news to stimulate the market. Among the positive factors, the effect of BlackRock's application has been digested, the U.S. House of Representatives' bill application ended in failure, Japan's web3 conference and Bean's actions continued, but these news failed to bring about a breakthrough in the market.
7/28 Market Analysis: The market is about to change, are you ready?
The BTC market is currently in shock. Last night's enthusiastic rise was affected by the legislative vote on the new encryption bill in the U.S. House of Representatives. However, the failure of the new bill to pass caused the market to fall back. The bill is influenced by the divided interests of two rights groups in the United States, with Republicans favoring mild regulation and Democrats favoring stricter regulation. Regarding the failure of the new legislation to pass, the market has over-interpreted it and generated some FOMO sentiments.
In addition, Japan's Web3 Conference and Bian's actions have also become hot spots in the market, and are interpreted by some as opportunities for market launch, but this information needs to be treated with caution. When the market is at its coldest, exchanges and institutions may still take action, but this does not mean a return to market enthusiasm.
At present, BTC is mainly focused on the position of 29000, and Ether is mainly focused on the position of 1850. If it falls below effectively in the short term, the downward channel will open. The current first resistance level is still 29300, and the second resistance level is 29600. The current resistance level is 29300. Choosing the most appropriate position is to open a short position in the range of 29300-29600!
House members’ efforts to push for regulation of U.S. stablecoins have faced a setback as talks with Democrats failed to reach an agreement. The draft incorporates some ideas floated by Democratic lawmakers, signaling a possible step toward bipartisan discussions. Many experts believe this is a major development in the process of establishing cryptocurrency regulation in the United States!
The typhoon is coming, friends who live by the sea, please pay more attention!
Market analysis on July 24: If you are not short now, when should you make a move?
This week’s price action for BTC is influenced by a variety of factors, the most important of which is the Federal Reserve’s interest rate decision. The market is anxiously awaiting whether the interest rate decision and a large number of option expirations will disrupt the current consolidation and cause the market to move out in a clear direction. As far as the news is concerned, some predictions indicate that the possibility of raising interest rates by 25 basis points is 92%, which may affect the decline of BTC prices. In addition, BTC options will expire on July 28, and the biggest pain point is 29,000. There are currently a large number of open call options, betting on an increase to 30,000 and 31,000, with a nominal value of approximately US$300 million. And the ratio of puts to calls is 0.55, with a total notional value of about $2 billion. If the BTC price still cannot remain above 30,000 after the option expires, it may fall below 29,500 again.
Recently, the BTC market has been fluctuating in the range of 29400-30400. We have been saying before that everyone is waiting for news. The Federal Reserve meeting is coming soon. This is undoubtedly the biggest news that will open up the current situation. I personally have always been optimistic about it. There is a possibility that interest rates will be raised this time. Please read my previous article for the specific reasons!
However, with the arrival of interest rate hikes, the market may bring about a wave of recovery, which can also be understood as the prelude to a storm. The contract view is that it is not appropriate to chase the rise or fall excessively in the short term. It is safest to hold your hand steady and find a high point to make a short wave.
In terms of spot goods, it is not the best time to enter the factory yet, so please wait a few more days!
At present, I still have two short orders in my pocket, XLM (entered near 0.175) and LINK (entered near 8.2). I am not in a hurry to sell these two, just keep them like this. The next 10 times will be it!