CryptoExplorers says
Ethereum stands out, the only currency in the mainstream that can continue to maintain a new high position. Yesterday, the i also explained the logic in advance to everyone in the article. On the one hand, the CME market transaction volume of the representative institution reached a new high, on the other hand, the whale holdings reached a new high. , Defi lock-up volume is also close to a new high, while the gray-scale GBTC is significantly discounted, while ETHE has a small premium. These can all indicate that institutional funds continue to flow into Ethereum. We don’t care what the logic behind it is, we only rely on these data. We can fully see that the growth of Ethereum will be stronger than that of the pie in the future.
Yesterday’s data will have results today, because the essence of market ups and downs is capital in and out. As long as capital can be seen in and out, the currency price will naturally be strong. On the day when the entire network plummeted, Ethereum remained in an upward trend, which is enough to show that our logic is correct. Similarly, we can also see a problem. When the hot Dogecoin has risen sharply recently, the entire encryption industry has been pulling back. This time when Ethereum has risen sharply, the entire encryption industry has been pulling back. This is an obvious manifestation of insufficient funds to undertake in the market. The result is what we often call polarization. I also mentioned in previous articles that the correlation of the top 10 cryptocurrencies by market capitalization has hit a record low, which means to follow the big pie. The number of linked currencies is declining, the general market rise has ended, and funds have begun to rush to those valuable currencies. This kind of market often reflects the strength of the strong. And will continue to take advantage of the weak, so it is foreseeable that the historical high of Ethereum will appear, and it will be difficult for Bitcoin to follow the sharp rise.
There is also a special indicator, the US stock Coinbase. To some extent, investors who want to buy Bitcoin ETFs can achieve their goals by buying Coinbase stocks, because when Bitcoin rises, Coinbase will naturally rise. , And apart from the recent ARK Fund’s continued purchase of Coinbase, we haven’t heard too many voices from institutions. This means that institutional funds are not optimistic about Bitcoin in this position, and it is also one of the reasons for Bitcoin's continued weakness. In other words, the continued weakness of Coinbase stock will weaken the confidence of Bitcoin investors, which is not conducive to the continued rebound of the market outlook.
The Korean Financial Services Agency continues to issue restrictions that prohibit internal employees from investing in cryptocurrencies. It also stated that ZF cannot protect cryptocurrency investors and is currently looking for comprehensive measures to avoid such losses. It can be seen that South Korean financial regulators should continue to impose strong supervision on cryptocurrency speculation, which will further reduce the enthusiasm of Korean investors.
In China, the download volume of cryptocurrency apps has also increased sharply. The download volume of some of the larger newsletter information platforms has surpassed that of the leading brokerage firm Oriental Fortune, indicating that the nationwide currency speculation has emerged, which is not conducive to a short-term record high.
Turkey announced the suspension of THODEX trading and began investigating the exchange. Another country has experienced a Chinese-style 94.
India's zf has been banning cryptocurrencies, and the Electronic Frontier Foundation has criticized zf. Governments all over the world ban leek takeovers in this position, so who will take over the encrypted market value that is now being promoted by the Americans? Worth pondering!
Signature Bank will provide cash loans backed by Bitcoin. Bitcoin as a mortgage loan is no better asset. It is easy to realize the mortgage rate and the mortgage rate is not that high. Institutions using Bitcoin to lend and eat the intermediate interest will hardly bear any risk. This will become a global outlet in the future and make a steady profit. Uncompensated trading will gradually appear in the new digital world, and Defi mining is also a product of this increase.
Huobi Asset Management has issued four new funds, three of which are 100% crypto-asset funds. The Hong Kong licenses received before are considered to be used. Let’s take a look at the amount raised. It will not have a big impact on the market, but it is also considered the most innovative encryption product in Hong Kong.
Bill Miller, a well-known American fund manager, said that Bitcoin is not a bubble, but a better store of value than gold. The supply of Bitcoin increases by 2% every year, and demand will grow much faster than this. Therefore, he believes that Bitcoin has just begun. Some people think it makes sense, but the bull market 1.0 has to rest, we are in the bull market callback cycle.
Grayscale added some LINKs. No wonder it was relatively strong in the first two days. It turned out to be Grayscale bought. GBTC is still -13.88% discount, ETHE is -0.29%, and funds still favor ETH.
In the morning, 6000 flatbreads flowed into Binance, and there were 387 transactions with a single amount greater than 500 BTC in the past two days, an increase of 92% year-on-year. It shows that the big players are changing, and the currency price is difficult to rebound effectively when the ability to undertake is not strong.
The USDT premium rate is 2.9%. The premium has not risen significantly in the recent callback, indicating that the bottom-hunting funds have weakened.
Market analysis
Bitcoin:
On the whole, the market is still in the callback cycle. As long as it cannot effectively break through the 5-day line in the short term, we should not participate. The pre-market block chain sector in the US stock market continued to pull back sharply, and Coinbase fell nearly 2%. There was no obvious return of funds. Therefore, after the opening of the US stock market in the evening, it is not conducive to the upward rebound of the currency circle.
ETH:
The strong is always strong, the logic has already been said above, just hold it. In terms of data, the settlement amount in the first quarter of 2021 exceeded US$1.5 trillion, exceeding the sum of the previous seven quarters. Therefore, there is a high probability that the currency price will be in an acceleration stage.
DOT:
Still weak, do not participate.
XRP:
Today, the CEO of Ripple said that it is impossible to abandon XRP, and the possibility of destroying tens of billions of dollars of XRP is not ruled out. The market basically did not respond. It seems that the team's dishonesty is very serious.
LINK:
The relative trend is okay, with high volatility.
LTC:
I have just pulled up a wave, and I don’t know the specific logic. There is a chance that this trend will continue to rebound.
ADA:
High shocks.
XMR:
The trend is not bad, it is still holding.
ETC:
Weak rebound, a bit stronger than other currencies.
DOGE:
The creator of the Bollinger Bands told us with indicators that the increase in April will fall by more than 50%. This time let's see if the indicators are strong or Musk is strong. Personally think there is a rebound demand in this position.
SUSHI:
I made a HECO cross-chain, and the rebound was not too strong, but today I rebounded independently, and there are still some rebound opportunities in the future.
Apart from other things, the market differentiation will become more and more serious. In the future, we will see more serious mainstream currency differentiation. Under the premise of no improvement in funding, we can choose the right strong currency to truly outperform the market.
That's it for today, see you tomorrow.
