Coinbase Pro Opens Dogcoin Trading, Multiple Crypto Asset-Related Companies Coming to Market

It is crucial for BTC to stand firm at the 37,000 support level.

Important news.

  1. eToro is expected to list on Nasdaq in the third quarter.
  2. Bitcoin mining company Gryphon will merge with Sphere 3D to list on the NASDAQ.
  3. Coinbase Pro has officially opened dogcoin trading.
  4. The chairman of the U.S. House Financial Services Committee will hold separate hearings on central bank digital currencies and cryptocurrencies.
  5. Anchorage and BankProv, the 10th oldest bank in the US, launched ETH-backed loans.
  6. Ripple opposes the SEC’s motion to extend the deposition period in the case.
  7. AK-47 gun maker owner says he wants to switch to digital currency for settlement.
  8. Coinbase offers $1.2 million in dogcoins to new US users as prizes in a sweepstakes.
    9.Coinbase has resolved credit card, debit card and PayPal issues.
    10.Curve.Fi team member Charlie tweeted hinting that Curve v2 will be launched soon.
    11.Argo Blockchain mined 166 BTC last month, with total holdings exceeding 1,000.
    12.Paxful launches e-commerce tool for merchants to accept bitcoin payments.

Market Roundup.
According to Golden Fruit, the total amount of bursts across the network in the past 24 hours was $85.574 million. The largest blowout order was an ETH perpetual long blowout worth $2,792,000, which occurred on the BitMEX exchange. The contract exchange with the highest blowout amount was the OKEx exchange, with a blowout amount of $56,893,300.

Institutional view.

OKEx quotes: BTC failed to effectively break through the upper edge of the triangle, and 37000 support became the dividing line between the strength and weakness of the intra-day trend.

According to OuYi OKEx investment research analysis, yesterday BTC in the 37000 near a slight correction again on the upper edge of the triangle consolidation area, although once a small breakthrough in the evening but the volume never appeared signs of amplification, so the subsequent trend again fell back to the consolidation area is also in line with expectations. This breakthrough resistance lack of volume patterns are likely to go soft. As of now, the trend is temporarily supported by 37000, if the day continues to fail to fall below the support, then the night or the weekend has the probability of quickly re-attack 40,000 mark, and vice versa, the fall will look directly to 35,600 near, that is, the lower edge of the consolidation area. Theoretically, if the fall without volume, the lower edge of the double support superimposed on 35600 strength is not small, but investors need to pay close attention to volume changes, a strong release pattern will have a high probability of completely break the current consolidation range, always without volume or continue to run to the end of the triangle.

ETH is also out of the false breakthrough pattern, short-term support can continue to focus on 2650 and 2530, resistance concern 2800 and 2900. UNI short-term support is located at 25.9 and 23.5 near, not broken then look up to 29.3 and 30. FIL short-term support concern 87.5, resistance concern 98, breakthrough then look directly to 108 near.

According to CoinGecko, an international third-party statistical agency, the 24-hour contract trading volume on the OEI OKEx platform was $17.4 billion.

Coinbase Pro Opens Dogcoin Trading, Multiple Crypto Asset-Related Companies Coming to Market

Huobi Exchange: BTC falls back up after brief drop

According to Huobi Global Station data, BTC quickly dropped from around 39000USDT to around 38350USDT yesterday evening, then scaled back to its original position, and then quickly dropped in small volume this morning to a low of 37373.73USDT. From the 4-hour level k-line chart, BTC retraced more in the morning and reached the previous rising trend line, so we need to focus on observing the support of the trend line today. The trend line support role.

From the MA5 and MA10 SMAs, the 4 h K-line repeatedly touched the MA 5 SMA after yesterday afternoon, and penetrated the MA 5 and MA 10 SMAs early this morning, followed by a decline in the market; from the market volume, the current trading volume is not significantly higher; in addition, although the MA 5 SMA has a downward trend, but has not yet formed a death cross with the MA 10, two signals indicate that this downtrend has not yet turned into a crash downward trend has not yet evolved into a plunge. Therefore, continue to pay attention to the continuation of the downward market and the breakthrough of 38400USDT after lunch. If the volume breaks through, it is possible to return to last night’s oscillation range or even continue upward; pay attention to the support of 37600USDT, if it breaks down, then observe the support of 36000USDT.

According to the data from the Firecoin Global Station, ETH’s trend last night was basically the same as BTC’s, from near 2870USDT to near 2770USDT, then scaled back to close to the original position, and this morning quickly fell in small volume, to a low of 2690USDT. 4-hour level, ETH retraced more in the morning, the price returned to yesterday’s morning level, and fell below the previous rising trend line. . This morning, the K-line continuously penetrated MA5, MA10 and MA20, the volume enlarged, the average line did not cross, the probability of short-term entry into the downtrend is greater than that of BTC. daytime continue to pay attention to the continuation of the down market and the breakthrough of 2780USDT above and 2620USDT below the support situation.

In terms of contracts, the big data of the fire currency contract shows that the BTC contract position is basically stable, the contract volume is slightly increasing, and the contract market is relatively inactive. The basis difference of the delivery contract is basically stable.

ETH contract positions are basically stable, contract volume is up significantly, and the contract market is relatively active. The delivery contract spreads decreased slightly. Exchange perpetual contract trading data: BTC setback to the downside in the morning, will test the $37,000 support situation

According to contract trading data, as of June 04 10:30, BTC/USDT perpetual contract offer $37,591.50, spot offer $37,559.11, perpetual contract price is up compared to yesterday, range +0.90%. The BTC/USDT perpetual contract funding rate (8-hourly settlement only) was (0.0001) at 08:00 and (0.0001) at 00:00 of the previous session.

The BTC/USDT perpetual contract 30-minute long/short ratio is 39.72%:60.28%, in terms of positions and transactions, the total positions reached 22,504,028USDT, and the volume rose to 304,742,891USDT in the past 24 hours. The BOLL belt flare shows an extended state, the price volatility is more extreme for a short period of time, the lower rail line support is weakening significantly, but a pullback of this magnitude is likely. The price volatility is more extreme for a short period of time, and the support of the lower rail is weakening significantly, but the retracement of such magnitude will probably not last too long, and the support level of $37,000 below will play an important role in the short term. perpetual contract quotes (up or down to 24H system display)

BTC: $37,591.50 (+0.90%); rate (0.0001)

ETH: $2724.76 (+1.64%); rate (0.0001)

EOS: $6.151 (-1.68%); rate (0.0001)

XRP: $0.9887 (-2.30%); rate (0.0001)

DOGE: $0.3801 (-7.92%); rate (0.0001)

BTC/USDT perpetual contract trading trends

Contracts market data.

  1. Volume and positions on each exchange.
Coinbase Pro Opens Dogcoin Trading, Multiple Crypto Asset-Related Companies Coming to Market
Coinbase Pro Opens Dogcoin Trading, Multiple Crypto Asset-Related Companies Coming to Market

Source: Skew

  1. Long-short ratio of position holders on major exchanges
  2. Long-short ratio of positions on major exchanges

OKEx elite long-short average position.

Among the three exchange elite accounts, CoinExchange and OKEx Exchange are long dominant, while FireCoin Exchange is short dominant.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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