CryptoExplorers says
The contract investors' liquidation amount was as high as 40 billion RMB overnight, and within an hour from 11 to 12 o'clock, the liquidation amount exceeded 30 billion. Not only contract investors liquidated a large number of positions, but also Defi's lending market. There has also been a forced liquidation of hundreds of millions of yuan. This kind of serial trampling is the real reason for the violence in a short period of time today. It is precisely because the market continues to rise unilaterally, a large number of leveraged investors have appeared, and they have accumulated enough profits. The market will be so thunderous when it falls. This is why i reminded everyone of risks in my past article for two consecutive days. This kind of fish tail market seems to be very delicious, but there are also many fish bones. Once the risk comes, it is rapid and huge, and the floating profit becomes the floating loss, which only takes a few minutes. The market always circulates in the ups and downs, and the panic and greed of human nature will be manifested vividly every time. This is the currency circle, a casino that magnifies the weakness of human nature. If you can’t guarantee your survival, it will disappear over time. In the long river of history, this is always keeping in mind the importance of risk.
Today’s plunge, many people pointed the finger at Coinbase executives’ cash out in the secondary market. The article pointed out that Coinbase’s CEO and CFO sold 70% and 100% of their stocks, and cashed out $4.6 billion. According to SEC documents, the so-called 70% and 100% stock sell-offs are actually in the unlocked 20% pool, and the other 80% are still locked and cannot be realized. Few persons believe that their executives have sold all the stocks they can sell at the moment, which has already shown that they are not optimistic about the company's future. This matter belongs to the ass and the brain, and their behavior has fully revealed this signal. If you think deeply, on the one hand, the competition between exchanges in the future will become greater and greater, and it will be difficult for Coinbase to continue to increase profitability; on the other hand, they don’t think Bitcoin can create miracles, which may be due to The epidemic has improved or the Fed's shrinking table has dropped significantly; there is another layer of regulatory risks in the future, which is also the most uncertain risk in the encryption industry at present, and it may also be the biggest risk.
The plunge has already occurred, and it is meaningless for us to find the reason for him. The people who can make money in the market will always be those who smell the risk in advance, and all the news will be displayed on the disk in advance, because the market always has Some whales will leave marks on the disk in advance. The collective behavior of the market a few days ago was a prelude to the advent of risks.
Gray Gensler has announced that he will be the chairman of the SEC. This is good news. He is a very professional and experienced crypto industry participant. He will give full play to the advantages of the crypto world and better promote the integration of supervision and innovation.
Fidelity Investments released the latest report, which believes that Bitcoin is still in the early exponential growth stage and may continue for several years. At the same time, it believes that Bitcoin is a legitimate store of value, which is more scarce than gold, and demand will show exponential growth. It shows that major US institutions are still optimistic about the future of Bitcoin in the long run, and the long-term bull market is still beyond doubt.
Bitcoin funding rate has dropped to -0.12%, which is the first time since 312 last year. It shows that the market’s bearish sentiment is serious. There is a big negative line, and there are many voices in the market. In fact, you don’t need to worry so much. The big logic remains the same, you don't have to care too much about a small wave in the ocean. Our future is still bright. The market will not only go up or down, everything is for better growth in the future.
India intends to impose fines on those who trade or hold crypto assets. This magical country changes day by day and is simply sick!
Market analysis
Bitcoin:
The strong support of 50,000 to 52,000 is directly stepped back in such a way, which i never expected. At present, there will be a certain rebound in this position, but the safety period will not be too long. In the short term, it will be back to 60,000. It is very difficult, so the madman predicts that 1-2 days after the rebound, the market will continue to bottom out. There is a high probability that it will be broken after today's low of 50880, and then go to the top of 50000. In short, the market will toss back and forth in the short term, and the probability of reversal is small, but if it hits a new low, it is still a good opportunity for ultra-short-term long. If you are a trend investor, you may be able to rest for a while, and it is not too much to toss for a few months below 60,000.
ETH:
Stepping back on the support of the top 2000 is basically linked to Bitcoin, so the strategy can follow the above-mentioned Bitcoin gameplay.
DOT:
Today’s decline is relatively large, almost directly trapping all of the people in the past 2 months, and there has not been a strong rebound yet, which is not going well. If you rebound tomorrow and the day after tomorrow, let’s come out first.
XRP:
Using the 5-day line strategy to keep profits very well, this is the power of the 5-day line strategy. Although it will not let you sell at the highest position, it will let you go relatively high.
LINK:
After being brought down, there should be a relatively large rebound in the future, linking Bitcoin.
BCH"
The upward trend is gone, and the rebound is mainly to lighten up.
LTC:
Linkage pie.
BSV:
Returning to the pre-liberation overnight, if you didn't leave yesterday, you should be uncomfortable today. The rebound still has to go.
ADA:
The founder said last night that the Dogecoin bubble will burst, which will bring huge losses to retail investors. As a result, ADA plummeted today, and the dogs rose. This is quite interesting. At present, the short-term correction to the strong support near the US dollar is unlikely to be directly broken, and it is also a short-term rebound situation.
XMR:
Relatively defensive, the situation of higher volatility remains unbroken.
DOGE:
According to the 5th line strategy, the upward trend of stepping back on the 5th line is an opportunity to get on the train. However, due to the excessive increase in the previous period, the comrades who stepped back on the car are still best to speculate and leave if they make money.
UNI:
There is no upside logic in the near future, and the rebound is mainly to lighten up. It's fine for a long time.
Today’s plunge has broken the trend, so after the rebound, we still need to consider lightening up. The normal callback of each bull market will be 30-40%. If you look down from 65,000, a relatively reasonable increase point will appear at 39,000- The range of 45500 is used as a reference for trend investors.
That's it for today, I wish you all a happy weekend, see you tomorrow.
