The relationship between BTC demand and supply is continuing to improve

Money is still the most consensus coin when market sentiment is at its weakest

The relationship between BTC demand and supply is continuing to improve

After a period of silence, Musk made a comeback, saying, “Tesla will re-allow bitcoin trading when 50% of miners are confirmed to be using clean energy.” After tossing and turning, Tesla found an excuse to come back, which makes people wonder if Musk is using his influence to manipulate the market, at least in the maniac’s opinion, Musk should be making a lot of money on bitcoin and dogcoin, otherwise no one would sell a thing like that. In any case, now that Musk is on the side of the bulls again, it’s clearly a favorable sign for the recent bitcoin rally, and we can just go with the flow in the market.

Tonight, MicroStategy’s $500 million will arrive, as to when people buy, we do not know, but the basic confirmation is that 30-40,000 they will definitely buy, and all the probability of shuttle pancake is great, so the next period of time, either the pancake directly up, or smash down they plunge, the protection of funds enough, whether up or not, there is no plunge basis.

The probability of the Fed maintaining interest rates at 0-0.25% in June is 96%, and the probability of a 25 basis point rate hike is 4%, which means that the Fed’s resolution in June is basically not expected to raise interest rates, which gives the market a piece of mind.

Purpose’s bitcoin ETF has now accumulated 19,692 bitcoins, an increase of nearly 2,000 bitcoins since May 15. This ETF is not fast enough to buy, but it can’t stop him from being able to sustain, and the more such ETFs there are in the future, the fewer bitcoin chips will be in circulation, and it’s too hard for the market to go bearish.

The CEO of Twitter thinks Nigeria will be at the forefront of the bitcoin trading space, this dude should have something new to say, he previously tweeted about Nigeria and bitcoin, maybe Nigeria is ready to legalize bitcoin, it is also a good thing to look forward to, after all, Nigeria is the most populous and largest economy in Africa.

The governor of Texas signed a cryptocurrency bill, another state completely regulated and legal, and a spark is starting a fire.

The New Zealand lobby wants the government to recognize Bitcoin as a foreign currency, and Madman sees nothing wrong with this lobby, after all Bitcoin is legal tender in El Salvador, he certainly should be a form of foreign exchange settlement, and more countries will recognize this in the future.

P2P bitcoin transactions in Africa have grown 15-30% in the last 6 months, making Africa the fastest growing continent, something well understood as 80% of people in Africa are unbanked and cryptocurrencies will be the cheapest way for them to store and settle their accounts. With such demand (increasing) and supply (continuing to decrease), the maniacs see no basis for bitcoin to go bearish at all.

The CNBC host believes bitcoin will reach $45,000 by Friday. Maniacs never look long or bearish without logic like this. Every day, the logic of the rise and fall of the market will be made clear, correct or not to everyone as a reference, not as a basis for investment, no thanks for making money, no cursing for losing money, account control is in your own hands, and everyone is responsible for their own investments.

Panic index 28, from extreme panic to panic, is expected to rise further tomorrow, everyone’s emotions recovered, we have to consider whether there is a short-term pullback.

Market Analysis

Bitcoin.

Bitcoin market capitalization is back above 45%, this wave of rebound, the big pancake is the strongest, indicating that the most consensus coin is still the big pancake when the market sentiment is weakest, which means that the big pancake will still be the strongest hedge and the most stable token in the future, which is the result of the consensus of funds. The daily wave should not be difficult to break through 40,000, there will be greater pressure near 41800, it is expected to be difficult to rush through at once, it will take 2-3 days, unless MicroStrategy buys directly to pull the plate at night. The stronger support below is at 38000, if backpedaling, you can consider continuing to get on board.

ETH.

At present, 23% of Ether is locked in smart contracts, which has Defi has ETH2.0, and many other sets of children, in short, the circulation plate is much less, and it will be much easier to pull the plate, in addition, Ether London upgrade confirmed the protocol of EIP1559, which will make Ether enter the deflationary state later, and the introduction of the remarkable EIP3554 difficulty bomb (POW to POS) is postponed to December. Data-wise, Ether NVT reached a near 7-month low, which is in the undervaluation zone. So overall, when the big pie rally comes to an end, an Ether chase will emerge, and those holding ETH can just wait patiently.

DOT.

Hold patiently and wait for the KSM test network to be completed before it is the turn of poka’s power.

KSM.

About 500,000 KSM are locked by the slot auction, accounting for 5% of the total circulation, the overall is still in the strong cycle, but this growth rate will slow down later, so the upward momentum will weaken, when DOT starts the slot auction in the future, you can refer to the pull-up of this wave of KSM in conjunction with the market at that time.

XRP.

The selling pressure is not much, and the linkage rally is dominant.

LINK.

Today’s sharp rebound, the release of the reverse package, this coin is like a spring that is continuously tightened by the short, the release will be more violent, the market is expected to continue to rebound.

LTC.

Linkage rally is dominant.

BSV.

Small bottom came out, expected to continue to rally.

ADA.

High box oscillation, not so fast to pull up directly, hold patiently.

XMR.

With strong resilience, short-term rebound to pressure level, oscillation is dominant.

DOGE.

Since Musk came back to engage in bitcoin, it is estimated that the dog to be cold for a period of time, capital is always profit-seeking, only to toss back and forth (cut leeks), he can make money. The near future is not expected to be too strong, linkage.

SHIB.

Too much of the mountaintop hedge, only the rebound, no reversal.

MATIC.

The day before yesterday to fill positions continue to hold can, there is pressure near 1.5, need time.

SUSHI.

The percentage of SUSHI held by the top 1% address reached 94%, a record high, the chips are concentrating on the big players, since February SUSHI high wide oscillation, the bankers are continuing to buy, perhaps a significant pull-up in the next few months.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-relationship-between-btc-demand-and-supply-is-continuing-to-improve/
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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