Overall market trend is weak, short-term may continue the oscillation pattern

Ether upside is not strong enough.

Important News:

  1. The U.S. urged El Salvador to do what it can to regulate bitcoin.
  2. Xiong’an New Area digital RMB redemption pilot activity opened.
  3. IMF expects the Fed to raise interest rates in late 2022 or early 2023.
  4. Germany’s Fund Positioning Law has come into effect, and up to $415 billion of funds may flow into the crypto market.
  5. British Chancellor of the Exchequer: the introduction of cryptocurrencies and stable coins requires “groundbreaking reforms.
  6. Ukraine classifies CBDC as a cash-like currency in its new payment law.
    Galaxy Digital has confirmed the sustainable energy structure of its bitcoin mining operations.
  7. Uniswap v3 liquidity mining contract has been deployed to the main ethereum network and all test networks.
    9.June Lightning Network capacity additions of bitcoin were the highest since March 2019.
    10.Bitcoin Mining Council report: bitcoin mining sustainable power mix increased to 56% in Q2 2021.
  8. JP Morgan CEO: Ether upgrade could drive pledge industry to $40 billion.
  9. NFT developer Animoca Brands raised a total of $139 million in its latest round of funding.
    13.Robinhood files for US IPO .
    14.South Korea’s four largest cryptocurrency exchanges cooperate to comply with global anti-money laundering regulations.
    15.Grayscale CEO: Institutions have recognized the enduring nature of the cryptocurrency asset class.
    16.The value of pledged ADA surpassed $30 billion, accounting for 71.7% of the circulating supply.
  10. Crypto miner Hive Blockchain is now listed on Nasdaq.
  11. MAS said it will closely scrutinize Coin’s Singapore subsidiary.
  12. The first KSM transfer between Karura and Kusama has been completed.
  13. Crypto company Mercado bitcoin received $200 million in funding from SoftBank.

Market Roundup.

According to Golden Fruit, the total amount of bursts across the network in the past 24 hours was $285 million. The largest blowout order was a BTC perpetual long blowout worth $5 million, which occurred on the Bybit exchange. The contract exchange with the highest blowout amount was the Bybit exchange, with a blowout amount of $151 million.

Institutional view.

Huobi Exchange.

BTC shocks sideways in the evening, concerned about the support below 32500 in the afternoon

According to Huobi Global Station data, BTC continued to oscillate last night, with the upper edge of the range at 34,000 USDDT and the lower edge at 32,500 USDDT, with relatively depressed volume. From the daily level, BTC received two consecutive negatives yesterday, and the price fell slightly; it is currently in a “star shape”, with fierce competition between long and short.

Four-hour level, the K-line is basically located below the EMA, and EMA10 and EMA20 form a dead cross, the three EMAs are downward. From the Bollinger band, the K line is always located between the middle rail and the lower rail, after a brief breakdown of the lower rail in the early morning, the market appeared “oversold”, the price rose slightly, and now gradually close to the middle rail; Bollinger band in the lower rail with the downward line and a small expansion of the opening, indicating that the market trend downward, the short and medium-term price will continue to fluctuate. Continuously located below the DEA; both downward, and the difference has a tendency to expand, DEA or will be positive to negative, the price down momentum is strong. In the afternoon, we will continue to pay attention to the change of volume, the breakthrough of 34000USDT above and the support of 32500USDT below.

According to Huobi Global Station data, ETH continued to fall last night, reaching a low of 2075 USDT; it is currently oscillating around the 2100 USDT line with relatively depressed volume. From the daily level, ETH collected a short positive line yesterday with a large resistance above; currently it is a short negative line with a small price drop. At the four-hour level, the K-line is basically located below each EMA, EMA5 penetrates EMA20 to form a dead cross, and all three EMAs are moving downward. From the Bollinger band, the K-line is located between the middle rail and the lower rail, close to the lower rail, the three rails tend to flatten, the Bollinger band opening is not significantly expanded or narrowed. dif continues to be located below DEA, both positive; MACD Bar is negative, and the absolute value is increasing. In the afternoon, we will continue to pay attention to the change in volume and the breakout of 2150USDT above and the support of 2050USDT below.

On the contract side, Huobi contract big data shows that the BTC contract position is basically stable, the volume is slightly decreased, the contract market is not active. The basis difference of the delivery contract decreased slightly.

ETH contract position decreased slightly, volume decreased slightly, the contract market is not active. The delivery contract spreads increased slightly.

Gate.io Exchange.

Gate.io perpetual contract trading data: BTC continues to shake to the downside, market may test lower support positions later

According to Gate.io contract trading data, as of July 02, 10:55, BTC/USDT perpetual contract quotes $33,220.75, spot quotes $33,238.42, perpetual contract prices are down compared to yesterday, the range of -3.22%. 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 46.25%:53.75%, in terms of positions and transactions, the total positions reached 18,041,967USDT, and the volume rose to 621,036,883USDT in the past 24 hours. The MACD indicator is running below the zero axis line, and the fast lines are turning to intersect the slow lines, so there is a greater possibility of a dead fork downward in the short term, which may lead the market further downward. If the market drops in volume and falls below the $32,500 support line, it may decline further to test lower support positions.

Gate.io perpetual contract quotes (up or down to 24H system display)

BTC: $33220.75 (-3.22%); rate (0.0001)

ETH: $2091.30 (-4.90%); rate (0.0001)

DOT: $15.0619 (-4.67%); rate (0.0001)

ETC: $52.85 (-6.04%); rate (0.0001)

DOGE: $0.2413 (-1.80%); rate (0.0001)

Contract market data.

  1. Volume and positions on each exchange.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/overall-market-trend-is-weak-short-term-may-continue-the-oscillation-pattern/
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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