CryptoExplorers says
In today’s market, bulk commodities have plummeted across the board, with a large number of limit-lowering varieties. This reflects the market’s expectations for future tightening, but in turn, if bulk commodities pull back earlier, it will reduce inflation expectations and reduce tightening. I don’t know if you can understand the logic of the CryptoExplorers, so it’s actually a good thing for today’s defensive Bitcoin, so the evening’s trend is likely to continue to rebound, and the probability of continuing to bottom out is on the contrary.
Musk seems not to be welcomed by industry leaders in the past two days. Everyone has criticized his remarks wildly. One of the more objective statements is that the development of Bitcoin does not need to rely on Tesla, let alone Musk, and Bitcoin. Coin is a mature decentralized network and the best performing asset in the past 10 years. Musk can earn 300 million US dollars of profit through Bitcoin and improve Tesla's financial statements, but he can't get cheaper and sell well. Now he says that Bitcoin is not. Such remarks are unpleasant. The CryptoExplorers is also completely incomprehensible about Musk's move. Maybe this is his way of switching to Dogecoin (Musk may issue coins by himself). Musk also said this morning that he is working with Dogecoin developers to improve transaction efficiency.
Coinbase's net profit in the first quarter was US$771.5 million, which is expected to be US$730-800 million, which is basically in line with expectations. Regarding the number of monthly active users, Coinbase will increase the number from 4-7 million per month to 5.5-9 million per month. Currently, there are 6.1 million monthly active trading users. From the point of view of the number of users, it means that Coinbase's annual user growth rate is limited, so the market has doubts about whether its finances can continue to grow, and it is not friendly to his stock price in the future. Also implicated by this is the ARK Fund, which has heavily held Coinbase stocks.
MicroStrategy bought 271 bitcoins again at a unit price of $55,387, which cost $15 million. This leveraged institution continues to Allin Bitcoin to see if it ends up getting rich or losing money. The CryptoExplorers thinks that the probability of the former is still high in the end.
Galaxy Digital CEO said that cryptocurrency accounts for 85% of its net assets. This buddy is similar to the MicroStrategy buddy. They are buying bitcoins desperately, and then frantically promoting how good bitcoin is. Two butts decide their heads.
Bloomberg reported: Binance is facing investigations by the U.S. Department of Justice and the Internal Revenue Service, but there is no evidence that Binance has done something wrong. One sister responded to this: "Binance does not support US user transactions, and Binance America is a legally independent company. "Now these major institutions are very slippery, and the laws of various countries are transparent. The Binance in the United States is very compliant, and the Huobi ok in the country is also very compliant, but it can complete business through other channels. Mode, so there is nothing to worry about overall.
Steve Cohen's hedge fund Point72 plans to enter the crypto market. The company's asset management scale reaches $17 billion, and another large asset management company intends to deploy cryptocurrencies.
The Swiss state-owned bank Postfinance has launched an application that supports 13 cryptocurrencies. The software allows users to make payments or invest in various assets. This is basically the prototype of the country's small exchange.
A researcher from the Institute of Strategic Studies of the Chinese Academy of Sciences recommends: my country should actively explore the inclusion of private digital currencies such as Bitcoin in my country’s foreign exchange asset reserves. It seems that the domestic control of cryptocurrency is gradually loosening, and even some researchers have gradually guided the national level to participate in the value storage of cryptocurrency.
Exit, the largest music festival in Europe, has begun accepting bitcoin payments, and the transaction can be completed by scanning the code on the website. Sounds very convenient. Bring bitcoin and go to Europe to participate in music festivals, haha.
About 10,000 bitcoins were withdrawn from Coinbase last night. Every time the market plummets, many institutions come to pick up cheap chips. After picking up, they mention their wallets, and there are fewer and fewer bitcoins in circulation. Where should the future Bitcoin be grabbed?
Yesterday, the number of bitcoins flowing into the exchange reached 30,000, a record high in the past year. The frantic high-level exchange of hands continues, and the game between institutions and between institutions and retail investors is going on frantically.
India’s largest exchange WazirX announced the listing of SHIB. It seems that the SHIB donated by God V will enter the market, which is not good news. Fortunately, the Central Bank of India has not bought the account. It urges the bank to cut off its ties with crypto exchanges and investors. It feels that the Central Bank of India really doesn’t understand anything. This kind of peer-to-peer transaction does not seem to be able to completely cut off the network except for the disconnection. Endangered like that, it’s sad that I don’t like this kind of donation.
Approximately US$240 million of cryptocurrencies have been stolen in the Defi field in the past four months, a record high. Defi is still in the early stage of the market, so hackers will use various contract vulnerabilities or the lack of economic models to steal tokens. This is the same as the original centralized exchange. As the future matures, hackers' opportunities will become more and more. less. It’s just that, in the early days, we still have to polish our eyes when we want to go mining, and we should try to participate as little as possible in things that are not in our cognition.
The gray GBTC discount was -21.23%, a record low, and the Ethereum discount was -14.34%, which was relatively low. In this context, Grayscale CEO said that in the future, converting GBTC to Bitcoin ETF is the best rescue plan. This means that you take GBTC to smash ETFs. Anyway, the U.S. stocks are picked up, as long as you don’t smash into the crypto market. , This idea is similar to his idea when he created Grayscale GBTC.
The panic index is 26, on the verge of extreme panic. Seeing this number, the madman is not so panic.
Tether released data on reserves. Commercial paper constitutes the majority of its cash and cash equivalents, accounting for 65%, trust deposits accounting for 24%, reverse repurchase notes accounting for 3.6%, treasury bills about 3%, cash accounting for 3.87%, and the rest being digital currencies.
In other words, Tether does have a run risk. He uses investors to exchange Tether's cash for various low-risk financial management. If more than 65% of investors redeem USDT at the same time, then Tether will form a run risk. It's scary to think about it, but this kind of run is hard to come by in the medium to long term.
Market analysis
Bitcoin:
Bitcoin's market value has fallen to 40%. The lower this proportion is, the more unfavorable it is for the market bull market. Based on this data, Bitcoin should work hard. Short-term some people still believe that Bitcoin will continue to fluctuate higher. As long as the US stocks open tonight, they can close the positive line and the short-term risk release is temporarily over.
ETH:
The rebound is still significantly stronger than the big pie, and it rebounded directly to near the 5-day line, which is expected to return to the upward trend.
DOT:
The two shadow queens turned upside down today and are expected to continue to rise.
XRP:
The rebound kicked off and continue to hold.
LINK:
The rebound after proven support level is expected to continue.
BCH:
Relatively weak, the upper pressure is greater, you can consider adjusting positions every rebound.
LTC:
Touching the support and rebounding, there is still some room, and the pressure is at 350.
ADA:
To set a new high, take it first.
EOS:
Today's rebound is not bad, if the market is strong enough, he still has a chance to move up.
TRX:
The rebound from the support level is expected to continue.
XMR:
High shocks dominate.
ETC:
Today is a strong anti-contract. I personally feel that he has the attributes of MEME coins. Since V God killed the zoo, these crazy investors have to do more extreme things. Maybe ETC is one of their promising targets.
DOGE:
Coinbase plans to provide Dogecoin transactions in the next 6-8 weeks. With Musk and the team doing research together, Dogecoin has surged again today. The current pressure is not easy to sustain.
SHIB:
After analyzing the above, it is difficult to become incense shit again.
UNI:
The shock is mainly higher.
After the market releases the risk, it will be healthier. If it can be released again, it will be an excellent bargaining opportunity, but in many cases, the market will not let you get in the car so comfortably.
That's it for today, I wish you all a happy weekend, see you tomorrow.
