In today's news, Ninepoint Partners, a Canadian alternative investment management company, announced that its Bitcoin Trust (Bitcoin Trust) has completed an initial public offering (IPO) of 230 million Canadian dollars (about 179.4 million U.S. dollars). According to John Wilson, co-CEO and managing partner of Ninepoint, this is the largest Bitcoin investment fund IPO in Canada to date. Launched on January 27, the trust provides investors with exposure to bitcoin with a management fee of 0.7%, and Class A units have begun trading in U.S. and Canadian dollars on the Toronto Stock Exchange (TSX) under the ticker symbol "BITC.UJ and "BITC.UN".
It seems that investment institutions in the traditional financial field will develop more derivative transactions related to Bitcoin. This may become a hot spot and trend in the investment field for a period of time in the future. More and more investment institutions participating in it is actually a double-edged sword. The number of participants increases and the liquidity increases, but more and more giants participate in it. In the future, the price volatility of Bitcoin may not be as violent as before.
Galaxy Digital founder Mike Novogratz believes the U.S. Securities and Exchange Commission (SEC) should review its priorities and approve a Bitcoin exchange-traded fund (ETF) Novogratz said that while the SEC's job is to protect investors, delays in allowing Bitcoin ETFs cause investors to pay a hefty premium to invest in Bitcoin only through publicly traded fiat trusts. Additionally, Novogratz stated that President Biden’s nominee to head the SEC, Gary Gensler, will serve the crypto industry better than his predecessor. He expects a Bitcoin ETF to be approved within 12 months, which will cause the Grayscale Trust premium to plummet.
Market Index Analysis Today
Market Index Analysis Today
secondary title
Mainstream currency market
BTC
Risk Factor: Moderate
Risk Factor: Moderate
After posting the article yesterday, according to our predicted trend, Bitcoin first chose to hit the pressure position around $32,500. After the shock failed, since the opening of the market today, the price of Bitcoin has further explored, and once fell to around $29,000 as we said yesterday. Fortunately, The price was supported at $29,000 and rebounded effectively. The current price is at $31,280.
In terms of operation suggestions, at the level of 1 hour, it can be seen that the trend of this round of rebound market is very healthy. If the price can remain above 30,950 US dollars, then we can be sure that there will be a rebound market in the future. If it falls below 30,900 US dollars , then the price will choose to drop around $29,000 again. On the daily level, Bitcoin is still at the lower end of the Bollinger Bands, and the market is still at risk of a flash crash. In the next period of time, Bitcoin may seek a shock and drop to around $29,000 in search of a second bottom. In the short-term market, due to the high probability that there will be large capital operations in Grayscale tomorrow, the trend may have a good increase tomorrow, but more opportunities are hidden in altcoins.
Upper pressure level: $32,500
First stop loss: $30,900 Second stop loss: $29,000
ETH
Risk Factor: Moderate
Risk Factor: Moderate
Although after a series of shocks, ETH is currently in the upper channel of the 1H Bollinger Band. If Bitcoin does not fall tomorrow, ETH may have a good follow-up rise.
Upper pressure level: $1330
Layer2 track
Layer2 track
LRC
Current Price: $0.413 Risk Factor: Moderate
We have been insisting that $0.39 can be properly entered into LRC, and yesterday’s decline and subsequent rebound once again proved the bottom position of $0.39, at least in the next short period of time, 0.39 will still be a good time to enter the bottom of LRC.
Upper pressure level: $0.438 First stop loss level: $0.39
OMG
Current Price: $3.21 Risk Factor: Moderate
As mentioned above, OMG has fallen below the key support article of $3.3. The trend of OMG may not be ideal in the future. Investors can look for opportunities at $2.9.
Polkadot series
Polkadot series
DOT
Current Price: $15.8 Risk Factor: High
After a few days of continuous decline, DOT has found a short-term support around $15. On the daily level, $15 seems to be the bottom of DOT’s future shock range. Radicals can invest appropriately at this price. field.
Current Price: $97.3 Risk Factor: Moderate
KSM
Current Price: $97.3 Risk Factor: Moderate
Regarding the rising logic of KSM, you can see the previous market analysis. In yesterday’s market analysis, we successfully predicted the bottom price of KSM, and made a suggestion that small funds can participate in the vicinity of 93 US dollars. According to today’s trend, the cumulative The increase has been 15%.
Next, we will focus on whether KSM can effectively break through $115. If it can successfully break through, KSM will continue to rise. If the breakthrough fails, KSM will probably pull back to $93.
First stop loss: $100 Second stop loss: $93
First stop loss: $100 Second stop loss: $93
