CryptoExplorers says
The U.S. Treasury yield has dropped and returned to below 1.5%, hitting a new low in nearly a week. The recent rebound in U.S. stocks and Bitcoin is precisely because of the decline in this indicator. After the Biden administration completed the $1.9 trillion stimulus plan, Biden once again announced the launch of a new round of stimulus plan. The next phase of the epidemic response plan will be announced tomorrow. The United States is full of water and inflation expectations are strong. This is the fundamental reason why U.S. bond yields continue to fall. In any case, as long as the United States continues to release water, the world will passively follow to print money, and the Bitcoin bull market will not stop abruptly.
The luxury hotel group Kessler Collection accepts cryptocurrency payments. At the same time, private jet operator FlyExclusive also announced that it supports cryptocurrency payments, and they are cooperating with Bitpay. That is to say, in the future, which company wants to obtain encrypted currency payment, only needs to choose the third-party payment company Bitpay, and after accessing the interface, it can easily open the encrypted currency payment. For some multinational companies, this saves users the trouble of exchanging US dollars. At the same time, the cost is still very low, and it is certainly worth opening. When these companies open more and more people, more people will use cryptocurrency, resulting in the formation of a huge pool of cryptocurrency. We can regard it as the inflow of funds in the future, which will eventually promote the further rise of cryptocurrency.
The creditors' meeting in Mentougou will be held at 14:00 on March 24, and the Mentougou liquidation compensation plan will determine the voters of the creditor's rights on March 24. It will take a long time before this matter is actually liquidated. At least I will see you at the end of the year, but the higher the price of the currency, the greater the damage will be when this liquidation plan hits the market.
Asset management company Giant Steps Capital will launch an encrypted fund, which is used to invest in Bitcoin and other digital asset futures. Encrypted funds have once again entered our field of vision, indicating that institutions are in action.
The number of open positions in Bitcoin has reached a record high of US$20 billion. As long as both volume and price rise, it is a healthy market.
In a survey conducted in the UK, 30% of investors believe that they have missed the opportunity to invest in Bitcoin. This kind of psychology is very normal. Bitcoin has risen by more than 15 times from the bottom of 3800 to 58000. A normal person will be a little afraid of heights. This is also an important reason why Bitcoin needs to go sideways. Bitcoin needs to continue to traverse a large oscillating platform before the market can further form a synergy. Otherwise, the continued pull will only lead to panic selling of profit, which is an extremely unhealthy trend.
Tether printed $1.4 billion, and the frantic influx of investors continues.
Grayscale Bitcoin Trust suspends accepting new investments. According to previous experience, it has not yet reached the three-month fishing moratorium, which may be related to the previous continuous discount. Grayscale sees that no one is involved in the continuous discount, so it simply suspends it first. At the same time, the parent company DCG announced the purchase of US$250 million in GBTC and spared no effort to rescue GBTC. After this wave of purchases, GBTC will most likely be discounted to a premium, which can also attract more investors to buy GBTC for arbitrage. It is a good thing for Gray to choose to save himself, and I hope that Da Pai Yao will regain his vitality as soon as possible. The recent additions are all ant warehouses, so they will not be displayed, and their impact on the market is too small.
Market analysis
Bitcoin:
Bitcoin has dropped slightly near the previous high. This is a relatively normal trend. The market does not have so much funds to support Bitcoin to directly break through the previous high. Therefore, it is reasonable to challenge the new high in this pressure position for 2-3 days. At present, 54500 has certain support, and it is expected to fluctuate mainly at 54000-56400.
ETH:
Miners plan to initiate a 51-hour computing power transfer to oppose EIP-1559. The proposal was first proposed by V God in 2018, which can alleviate the congestion of Ethereum and increase the destruction of ETH. But this proposal will affect the short-term interests of most miners, so most miners choose to oppose it. Under this split, it is difficult for Ethereum to be strong in the short term, and it is expected that it will be mainly linked with Bitcoin.
Platform currency:
Affected by the news of the exchange’s weibo ban, there has been a sharp drop. Judging from this ban, there may be follow-up actions. For the time being, it is recommended to avoid it, especially ht and okb, which are mainly domestic groups.
DOT:
The yin and the yang are not very good, but the amount of decline can be small, so the expectation of new highs still exists.
LINK:
The linkage fell back, and there was some support near 28.5.
ADA:
Continued weakness, mainly callback.
ZEC:
Today, there is a small wave of independent market, and the funds have a tendency to guard the market, so you can pay attention.
UNI:
The high position is three consecutive Yin, the trend is not too good, continue to lighten up the main.
SUSHI:
Favorable cashing did not go up, lighten up.
That's it for today, see you tomorrow
