Several new coins on the rise; ethereum strengthens on institutional influx
BTC is under pressure above, and the market is expected to maintain a high level of oscillation.
The crypto market has recently become heavily decentralized and community-oriented, with a number of emerging decentralized tokens on the rise. Today, Geometric Energy Corporation (GEC) announced the “DOGE-1 Moon Landing Plan”, SHIB went live on Cryptocurrency today, Chia released the 1.1.5 update, and ICP went live on May 11, with most coins in the crypto market clearly being sucked in. In addition, Ether is also performing strongly due to the influx of institutional funds.
The number of BTC holdings addresses continued to fall back, but the net increase of 1,101 BTC in BTC lock in DeFi indicates that the long-short game in the market is still intense. BTC’s resistance above $60,000 and support below $56,000.
Today, Geometric Energy Corporation (GEC) announced the “DOGE-1 Moon Program”: a satellite named “DOGE-1” will be launched on SpaceX’s Falcon 9 rocket, while GEC and SHIB is online on Coinan, Chia released 1.1.5 update version, ICP officially launched on May 11, crypto market recently emerging small coins serious gold absorption, BTC short-term pressure above, the market is expected to maintain oscillation, ethereum due to the influx of institutional funds, also strong performance. 2.
BTC is under pressure above, but the support below is still strong, BTC market tends to be high and oscillating.
- from the accumulative data of miners’ production and selling, we can see that miners’ production continues to rise, and the selling volume does not change much. 141 BTCs were accumulated by miners net in the last 24 hours, which shows that miners as a whole still tend to hoard coins, which will be conducive to BTC’s upward attack in the market.
- The number of BTC holdings continues to fall, but the net increase of 1101 BTC in BTC lock position in DeFi indicates that the market long and short game is still intense, and the market tends to shake at a high level.
- Market greed maintains a high level, off-site attention is not high, and onsite buying power is slightly strong.
- Long positions in the contract market are slightly dominant, and the ratio of long to short BTC positions remains relatively high, although short term bearish sentiment has increased.
- Most of the mainstream crypto indices in the crypto market rose today, while the cryptocurrency indices fell slightly. The mid-cap and large-cap mainstream indices rose relatively more, and the funds showed signs of returning to the large-cap mainstream coins.
I. Macro Market and Cryptocurrency News
Today, Geometric Energy Corporation (GEC) announced today that the DOGE-1 moon landing plan will be launched on SpaceX’s Falcon 9 rocket, SHIB is online on Cryptocurrency, Chia released the updated version 1.1.5, ICP was officially launched on May 11, and the crypto market has recently seen a serious gold rush of emerging small coins. BTC is under pressure in the short term and the market is expected to remain volatile, while Ether is also performing strongly due to the influx of institutional funds.
BTC’s resistance above $60,000 and support below $56,000.
Third, the accumulation of miners indicators
According to bytetree data, from the miner production and selling accumulation data can be seen, miner production continues to rise, the amount of selling does not change much, the net accumulation of 141 BTC miners in the last 24 hours, which shows that miners as a whole still tend to hoard coins, which will be conducive to BTC after the market upward.
IV. On-chain indicators
According to Oklink data, by observing the number of held addresses, we can see that the number of BTC held addresses continues to fall back, which indicates that there is still a large selling pressure above BTC. As of 16:00 today, the locked position of BTC anchor assets in DeFi is 225281 (224180), and the net increase of BTC locked position in DeFi is 1101 BTC. From a comprehensive point of view, the number of BTC held addresses continues to fall, but the net increase of BTC locked position in DeFi is 1101 BTC, which indicates that the market is still fierce between long and short games. The market tends to shake at a high level afterwards.
V. Panic Index and Buy/Sell Strength Indicator
According to alternative.me data, today’s panic and greed index is 72 (73 yesterday), and the overall greed and panic index remains high. According to the Baidu search index, the overall change in Bitcoin search volume is not significant. According to Toronto exchange data, BTCC volume copies 553,963 throughout the day; gray GBTC premium is -15.1%. According to coincoin data, as of 16:00 today, BTC’s current funding rate is +0.01%; the current Bitcoin RSI 14 (Buy/Sell Relative Strength Index) is 57.96 (56.1), with a slight increase in buying power. On balance, market greed remains high, with little off-site attention and slightly stronger on-field buying power.
VI. Contract Indicators
According to coincoin data, as of 17:00, the ratio of long and short positions on the whole BTC network is: 50.4% long and 49.6% short, with the long positions slightly dominant. According to OKEx contract data, on the hourly chart, the number of BTC long and short positions fell rapidly than in the early morning, and the short term bearish sentiment in the market increased, although the overall still maintained relatively high levels. Overall, the contract market is slightly dominated by long positions, and the BTC long/short position count ratio remains relatively high, although short-term bearish sentiment has increased.
VII. Mainstream assets and popular coins
According to Chainext data, most of the mainstream crypto indices in the crypto market rose today, while the cottage coin index fell slightly, and the mid-cap and large-cap mainstream indices rose relatively more, with signs of funds flowing back to large-cap mainstream coins. At present, among the top 100 coins in 24 hours, only four coins are up, which are OKB (16.548%), LTC (16.179%), HT (15.75%), BCH (12.285%) and LSK (11.586%).
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/several-new-coins-on-the-rise-ethereum-strengthens-on-institutional-influx/
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.