Fundamentals no wind and no rain, BTC a small rebound after more energy

If there is no other fundamental information impact, it means that the market has a good rebound form, the trend is more upward probability

As the mining conference in Sichuan did not form any resolution, the market reflected relatively optimistic, and the crypto market still rebounded slightly according to the rhythm at the beginning of the week. As of 11:00 am today, the BTC perpetual contract quoted at $37,398 on the FireCoin exchange, up 0.018% compared to 24 hours ago.

Institutional view.


BTC opened a slow rally again yesterday after stopping at 35700. Although each wave of the recent rally has not been accompanied by an increase in volume, the pattern has come out of a long turn of strength with the retracement bottom constantly moving up. However, it should be noted that the current BTC is still at the end of a triangular consolidation area, strictly speaking it is still in a period of intense long and short game, the chips keep changing hands. Therefore, it is recommended to be cautiously bullish when the trend has not yet broken the upper edge of the triangle, the confidence of the bulls has not yet fully recovered, once the impact of key resistance failed, it is likely to collapse again leading to a new round of selling. From the plate if the upper attack resistance near 39000 fails, the market will probably go down to the lower edge which is near 35700 support, investors can continue to pay attention to these two key points.

ETH short-term support can be concerned about 2650 and 2530, resistance concern 2750 and 2800. UNI short-term support is located near 26.8 and 25.9, not broken then look up to 28.8 or even 30. CRV recently opened a strong rise, currently maintain a strong pattern, short-term support concern 2.29, resistance concern the former high 2.51.

According to CoinGecko data, an international third-party statistical agency, OEOKEx platform 24-hour contract trading volume of $15.9 billion.

According to contract trading data, as of June 03 10:20, BTC/USDT perpetual contract offer $37355.50, spot offer $37352.91, perpetual contract price compared to yesterday is up, the range +2.77%. BTC/USDT perpetual contract funding rates (only listed every 8 hours settlement) 08:00 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 41.01%:58.99%, in terms of positions and transactions, the total positions reached 20,564,828 USDT, and the volume rose to 291,745,701 USDT in the past 24 hours. The price of the BTC contract has been moving up since yesterday’s opening, and has only been stopped from around $35,700 to $38,200, and has now fallen back to adjust around $37,300. Continued retracement of the K-line from the BOLL above the upper rail line to run below the lower rail line, the short-term rebound pressure is increasing, if no other fundamental information, it means that the market has a good rebound form, the trend is more up probability, but the current market volume ring is still relatively depressed, the intra-day volatility is likely not too large, short-term can consider grid trading strategy for swing arbitrage. Concerned about the $ 38000 line of resistance, operation please pay attention to control risk.

Contracts market data.

  1. The volume and position of each exchange.
Fundamentals no wind and no rain, BTC a small rebound after more energy
Fundamentals no wind and no rain, BTC a small rebound after more energy

Source: Skew

Important news:

  1. U.S. White House press secretary Psaki said that the Biden administration is increasing its analysis of cryptocurrencies.
  2. Kraken launches crypto trading mobile app in the US.
  3. SEC delays approval of WisdomTree Bitcoin ETF listing.
  4. The Biden administration will investigate the use of cryptocurrencies in ransomware attacks.
  5. Federal Reserve Harker said the launch of the U.S. central bank’s digital currency may take a long time.
  6. Irish MEPs want to implement stricter regulations on stablecoins and cryptocurrencies in Europe.
  7. Japan’s GMO Group reached cooperation with INX on the yen stable coin GYEN.
  8. Norton 360 antivirus software will soon launch ethereum mining function.
  9. The European Central Bank said that the creation of a digital euro could make payments or savings easier and that countries lacking an official digital currency could face threats to their financial systems and monetary autonomy.

10.Norway’s Finance Minister Jan Tore Sanner said that cryptocurrencies may eventually stabilize over time.

11.Google lifted its 2018 policy of banning ads from cryptocurrency exchanges and wallets.

12.Michael Hsu, the current acting director of the U.S. Office of the Comptroller of the Currency (OCC), said the ultimate goal of the review guidance is to determine the overall strategy for digital assets.

  1. Hamas officials say it has received a surge in cryptocurrency donations since armed clashes with Israel broke out last month.
  2. Gaming company Razer is considering entering the cryptocurrency space.
  3. The IOTA Foundation announced the launch of Nectar DevNet as the IOTA 2.0 roadmap reaches new milestones.

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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