1. Industry Interpretation
1. Industry Interpretation
The decline in Bitcoin these days has created a tense atmosphere throughout the cryptocurrency market. The panic of the leeks is even more lingering.
According to the panic and greed index of Crypto Fear & Greed, there is extreme panic in the market (note: the threshold of the panic index is 0-100, where 0 means "extreme fear" and 100 means "extreme greed"), and this state is not only In the continuation, the degree even keeps rising, and dropped 3 index points from yesterday to today. This can't help but remind everyone of the big bear market in December last year.
This reminds me of the words of Buffett, the stock god, "When others panic, I am greedy." When the market is extremely panicked, it is a good time to enter the market. When you take a taxi and hear the driver talking about Bitcoin, then you have to think it's time to leave.
And today Morgan Creek Capital CEO-Mark Yusko also said that investors should not let the daily volatility of Bitcoin prevent them from investing in this valuable cryptocurrency.
The bigwig said that the daily price of Bitcoin is not important, since 2009, the user base of Bitcoin has grown every year, and the price of any asset will fluctuate.
Although I don’t know how many bitcoins this boss holds, since 2018 Morgan Creek Digital and Bitwise Asset Management have jointly launched the Digital Asset Index Fund (Digital Asset Index) Fund), designed to allow institutional investors to invest in a basket of cryptocurrencies.
2. Today's market overview
2. Today's market overview
Today's total market capitalizationIt was 213.1 billion U.S. dollars, a decrease of about 3.6% compared with yesterday. The market plunged again last night, obviously not as strong as last time, and the market is expected to stabilize. Compared with yesterday, the trading volume decreased by 3.6%. Although it dropped slightly again, the trading volume continued to decline, and the short market gradually weakened.
message level,Venezuela considers cryptocurrency as an international reserve currency; French Finance Minister says exchanging one cryptocurrency for another will not increase any capital gains tax obligations; Bitcoin Lightning Network nodes break through 10,000, a record high .
3. Distribution of currency rise and fall
Among the top 100 currencies by market value today, most of them performed poorly, and 80% of them fell in price, but there was no extreme situation. RIF, the biggest decliner, fell by 11%. RIF has been performing well in the past six months. The market was smashed. The unpopular small currency LOOM exploded by 10% in the countercurrent, and the other largest gains did not exceed 5%.
4. Trading volume analysis
The top 30 coins by trading volume have a relatively even distribution of rise and fall, 60% of the coins have seen a decline in trading volume, and the average trading volume change is almost zero. Most of the currencies with increased trading volume are stable coins and platform coins, and the premium of stable coins has risen slightly again, which is related to the second dive last night.
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] Last night, as we predicted, BTC experienced a second drop, but it did not break through the previous low of more than 7,700. It was firmly supported by the bulls. Although the trend was stable, it was quite weak. Now analyze it directly from the 30-minute level. After last night’s decline, the back draw did not pull above 8220, which shows that the box is repelling the current back draw. On the other hand, it also shows that the bulls have insufficient funds and dare not take the initiative to attack. Continue to fluctuate, and look at the lower line in the short term; combined with the small-level 5-minute level, the decline from the previous high of 8169 cannot be confirmed to be completed. From the trend point of view, there will be a small decline. If the decline is over, it will rebound to 8014 immediately. Nearby, the short-term rebound can be expected, and the trend will continue to find the bottom if the rebound is less than that.
In summary,In summary,BTC's high dive triggered a large-level breakout. After several days of adjustments, the trend has not stabilized, indicating that the market is extremely weak.
LTC：The operation suggests that the short-term rebound is not strong, mainly shorting around 8150, with a stop loss of 100 points.Wright's trend is quite weak. Every time after a deep drop, there is no decent rebound, which shows that the bulls have given up resistance, and they can only follow if they want to rebound.
ETHThe operation suggests short-term shorting around 55, with a stop loss around 56.: The ETH consolidation is slightly stronger than BTC, and it can stay at a high level, but if there is no funds to pull the market, this trend will not last long and will come down.
EOSOperational recommendations are mainly shorting around 166, with a stop loss around 168.: Grapefruit has a strong downward force, and there is almost no recovery at present.
BCHIt is recommended to rebound to around 2.78 for short-term short-term, with a stop loss around 2.81.: BCH's super large platform has been directly penetrated, accumulating a large amount of pressure on the holding plate, and the upward space is quite limited.
It is recommended to rebound to around 215 for short-term short-term, with a stop loss around 217.
