Web3 Daily Report NO.029

1. BTC etf closed.

2. The total market value of cryptocurrencies fell, the total market value of altcoins fell, the trading volume increased compared with yesterday, the market share of USDT increased significantly, and the USDT exchange rate increased. Negative

3. Sentiment index, FGI 72, low market sentiment.

4. BTC chain has 5 large transfers, ordinary negative; ETH chain has 485 large transfers, extremely negative.

5. The TVL on the chain fell overall compared with yesterday, down 6.44%, of which Ethereum Layer2 TVL rose 7.59%, and other public chain TVL fell 35.26% overall.

6. BTC opened at 67116.32 yesterday, the highest was 67929, the lowest was 60660.57, and the closing price was 63924. The change was -4.76% (-3192.01), and the amplitude was 10.83%. Yesterday's big fluctuation came as expected, with the intraday amplitude reaching 10%, the low point was 60660, breaking the low point of 60775 on March 20, and the shorts won.

Current BTC market:

1W cycle: longs are normal, 1D cycle long end, this long weakening has gone through 29 cycles, and the big support is 57000;

12H cycle: shorts are normal, strengthened, and moving slowly; 6H, shorts are normal, 4H, shorts are normal, and 4H shorts may continue to accelerate; 1H shorts weaken.

The overall market is biased towards shorts, and you can pay attention to the support levels of each cycle.

Intraday direction: short,

Intraday pressure level: 67420, 67720

Intraday support level: 61740, 59160

The daily interpretation content is only for sharing and communication, and does not constitute any investment advice