1. Industry Interpretation
1. Industry Interpretation
Today, Bakkt (a bitcoin futures platform for physical delivery) has been listed on the pages of major financial media. As the son of the Intercontinental Exchange (ICE), it has finally been born under the halo in the eyes of everyone's expectations.
Before looking at his son, the editor will first talk about this awesome dad. Intercontinental Exchange (ICE) is currently one of the world's three major futures exchanges. It owns a total of 14 securities and futures exchanges led by the New York Stock Exchange, and 5 clearing houses, trading more than half of the world's crude oil and natural gas refining futures.
As the son of ICE, Bakkt successfully completed the first round of financing of US$182.5 million even in August 2018, when the cryptocurrency industry was in a cold winter. , Naspers, an early shareholder of Tencent, the famous Boston Consulting Company, Goldman Sachs Galaxy Digital, etc.
What is more noteworthy is that Bakkt was approved by the US Commodity Futures Trading Commission (CFTC) and the New York Department of Financial Services (NYFDS) in August this year. As a trading platform approved by regulators, it has been endowed with more far-reaching significance. It is generally believed in the circle that Bakkt will open the door for traditional financial institutions to enter the cryptocurrency world.
Although the birth was almost difficult due to the difficulty of physical delivery of Bitcoin futures, but after 10 months, it finally went into production today.
But the performance after going online today is not satisfactory. As of 1:00 a.m. Beijing time, the current futures contract trading price is 10,067.5 US dollars. From the launch to the present, the total trading volume of the platform is only 14 bitcoins. Excuse me? What about the promised "throne" of the Chicago Mercantile Exchange (CME)?
Although the trading volume of CME's Bitcoin futures has been shrinking since July this year, Bakkt's performance is really not satisfactory.
Comparing futures products on the two exchanges, CME settles futures trades in cash, using spot prices from the other five exchanges. But do spot exchange prices really reflect the true price of the Bitcoin market? the answer is negative.
At present, several major exchanges with the highest bitcoin trading volume in the market, such as the well-known Binance, Huobi, Okex, etc., are not included in the CME spot price calculation system. Are you kidding me if you want to represent the entire market based on the volume and price of only five exchanges? Therefore, this may cause the final bitcoin spot price calculated by CME to deviate from the mainstream bitcoin spot price.
However, Bakkt allows bitcoin transactions to be settled in the future, avoiding the problem of CME bitcoin price deviation. It stands to reason that it should be more advantageous.
But at present, its launch has not brought much volatility to the market, and its good news has long been digested by the market. The editor believes that it will be difficult to make too many waves in the short term.
However, with the development of the encryption market and the increase in the value of Bitcoin, future supervision will be gradually strengthened, and more legal and safe trading platforms will be needed. So, in the long run, it is good.
2. Today's market overview
2. Today's market overview
Today's total market capitalizationIt was 2631 US dollars, a decrease of 0.5% compared with yesterday. Last night, the market continued to fluctuate downwards after a slight pullback, the range was weak, and the wait-and-see mood was serious. The trading volume has decreased by about 10% compared to yesterday, the second-tier currency rally has ended, BTC continues to weaken, and the market lacks momentum.
message levelmessage level
, The afforestation project in Xiong'an New District in the fall of 2019 will be managed through a blockchain fund management platform; Futian District, Shenzhen will accelerate the construction of the Central Bank Digital Currency Research Institute. development goals.According to Alternative.me statistics, today's market sentiment is panic, with a panic and greed index of 41, a slight relief from yesterday's 37.
3. Distribution of currency rise and fall
Among the top 100 currencies by market capitalization today, nearly 70% of them fell slightly. The biggest drop was ETP, with a drop of about 11%. The biggest increase was WAVES, with a single-day increase of 18%. WAVES has fluctuated downward since the end of 2017, and it was smashed back after many pulls in the middle. This time it is not optimistic.
4. Trading volume analysis
The market continued to weaken today, and trading volume continued to decline. Among the top 30 currencies by trading volume, only a very few have seen an increase in trading volume. As a platform currency, HT is relatively less affected, but the trading volume has increased. HT has continued to fall in recent days, and today it stopped falling and stabilized, and most people bought the bottom.
5. Stablecoin Analysis
5 minutes
Note: The USDT on-market discount and premium index is converted based on BTC/USD, BTC/USDT, USDT/USD and other trading pairs in multiple exchanges. It is the percentage ratio between USDT and USD, reflecting the trader's preference for USDT degree. The USDT off-exchange premium index is calculated based on the off-exchange price of USDT and the offshore RMB exchange rate. It is the percentage ratio between USDT and USD, reflecting the degree of crowding of funds entering and exiting the token market. When the index is 100, it means USDT parity, when the index is greater than 100, it means USDT premium, and if it is less than 100, it means USDT discount.
6. Technical analysis
BTC/USDT secondary market trend analysis (Huobi spot)
5 minutes
30 minutes
【BTC】Today is the day when Bakkt officially launched the BTC futures contract, but the market did not respond, which should be understood as a sign that all the benefits have been exhausted. Judging from the overall market trend, funds are still quite lacking, and the wait-and-see atmosphere of off-market funds is dignified. Now judging from the trend at the 30-minute level, the trend has moved down significantly, the center of gravity has been in a downward state, the rebound is weak, the bulls have no intention of fighting, and the 10,000 mark has not been closed, that is, the shorts are dominating the market; combined with the small level From the perspective of the 5-minute level, the 5-minute downward structure has a tendency to expand, and the bears are still making efforts. Although BTC has been slightly driven up by the second-tier currencies, the sustainability is very poor, and it cannot reach the height at all.
In summary,In summary,Now BTC is in a large-scale downward trend, and there is not much room for the strong support below 9750. If there is a break at this position, at least look at the mark below 9500.
ETH：Operational suggestion: the rebound is not strong, mainly short around 9960, with a stop loss of 80 knives.After ETH continued to rise, the consumption of bulls was obvious, and the trend began to fluctuate in a box. The upward space is already very small, and it will go down at any time if the strength cannot be achieved.
EOSThe operation suggests that the short-term short-term short-term is mainly around 212, and the stop-loss price is 215.: EOS is caught in a major level adjustment, and the trend is weak, but the support around 3.6 is strong, and there is no small room for decline.
LTC：Operational recommendations are mainly shorting around 3.85, with a stop loss price of 4.0.LTC took the lead in leading the market to withdraw today, but the energy of the left segment is average, there is no space to play, and the short-term will rise slightly, and it is estimated that there is no height.
BCH：The operation suggests that short-term short-term selling is mainly around 74, and the stop loss price is 76.The BCH is directly pulled back to the box to vibrate, and the upper lock is too strong, and it cannot be hit after several impacts.
