The whale kept buying on the left side, and the bottom interval gradually appeared

Continue to control the position and wait patiently for opportunities.

Overnight, the Fed once again discussed the issue of reducing debt purchases. Bostic said that once the crisis is over, the proportion of debt purchases will be reduced proportionally. Most officials expect that the Fed’s balance sheet reduction will be earlier than expected, and the most sensitive to inflation Bitcoin is the first to appear weak, and other assets have not seen obvious reactions. In addition, the 10-year U.S. Treasury yield continued to fall to 1.26%, continuing to hit a new low since late February. The market’s expectations for the future are not as pessimistic as Fed officials said. Inflation expectations are still relatively obvious. The general environment is still Relatively stable.

U.S. Senator Pat Toomey invested in Grayscale Bitcoin and Ethereum Trust. According to the madman’s understanding, not only Wall Street institutions but also many U.S. officials have already participated in cryptocurrency investment, becoming a stakeholder in the crypto industry. At this level, the future encryption market dominated by the United States is still very worth looking forward to.

The US SEC has postponed the review of the Bitcoin ETF application of Skybridge Capital by 45 days to August 25. In any case, it will be passed in the future. It is only a matter of time.

The CEO of Tianqiao Capital believes that China’s withdrawal from BTC mining is beneficial to the long-term development of BTC because Bitcoin mining can better move towards green energy mining. According to an analysis, El Salvador’s active volcanic geothermal mining can generate 95 megawatts of energy, which can power large mining farms, and the proportion of green mining in Bitcoin will gradually increase. The analysis also predicts that El Salvador’s future will be every year in the future. 20,000 bitcoins can be mined, about 750 million U.S. dollars, and it will become the most profitable project in Central America. Will El Salvador’s “risky move” bring more light?

Argentine parliamentarians proposed to pay wages in Bitcoin in the new bill. If the bill is passed, workers will be able to receive wages in Bitcoin, and Argentines working overseas can choose to pay wages in cryptocurrency. Argentina is a large South American country. If the bill is passed, it will have a certain boost to the market, which is tantamount to indirectly recognizing Bitcoin as the national currency.

In the first half of the year, Visa encryption card consumption amounted to 1 billion U.S. dollars. Bitcoin’s liquidity is getting better and better, and the market depth is sufficient. With the Lightning Network, it is also a good currency in circulation.

Let me talk about a few more data:

  1. Yesterday, 9611 BTC flowed out of the exchange, hitting a new high in nearly one month. Institutions continued to increase Bitcoin;
  2. The supply ratio of Bitcoin to stablecoins continues to be at a low point, indicating that there are enough stablecoins in the market and strong purchasing power;
  3. 48.7% of the bitcoins are in 100-10000 wallet addresses, and bitcoins have moved from decentralization to concentration again, which is a sign of big money collecting chips.

These few data show that funds started to build positions on the left above 30,000, but it does not mean that this is the true bottom of the market, and that it has entered the area of ​​the bottom interval.

In the past 4 hours, the Bitcoin short position has risen by 4136 BTC. Do you remember the story of the previous borrowing and smashing the market? This time it repeats:

Coin World-Whales keep buying on the left side, and the bottom interval gradually appears

At present, the energy accumulated by the shorts is not too strong, but it is still growing, which means that the shorts may continue to exert strength in the future, which is not a good phenomenon in the short term.

Panic 20 is another extreme panic. It is expected that it may hit single digits these days, and it will be a short-term buying opportunity at that time.

Market analysis

Bitcoin:

Today, this daily line is going too badly. Many troops have been defeated and the key support level has been knocked out. Bitcoin has fallen out of the shock range. It will mainly fall back for a period of time. It is not ruled out that it will create another one in the next week. New lows, we don’t know where the pit will eventually be dug, but if a new low is made, the process of digging the pit will be an excellent time to continue to pick up chips, because from late July to the end of July, the probability of Bitcoin’s rise is huge. Yu fell.

ETH

The London hard fork is determined to take place at block height 12965000, and the time will probably be between 13-17 o’clock on August 4th. The benefits of Ethereum will proceed step by step. In the future, the overall situation will still be stronger than the pie, but it will continue to fall back in the short term.

DOT:

The market fell and the linkage fell back, so no participation.

XRP:

Selling pressure is still emerging, waiting for new lows.

LINK:

The pressure level fell back in case of resistance, and the high volatility was linked.

THERE IS:

When it fell, the decline was not large, and there was still funds to support it as a whole.

TRX:

Funds have not been on the rise, or the market environment is not good. He will return to the linkage market in the short term. In the future, it is expected that his funds will save himself after the market stabilizes.

ETC:

Today it broke the support, which is similar to the TRON logic. There was money to do it before, but the market was too weak to pull against the trend, so wait for the future self-help. In addition, after the future difficulty bomb of Ethereum takes effect, the biggest beneficiary Perhaps it is ETC, the Ethereum difficulty bomb is expected to take effect in January next year (POW to POS).

DOGE:

Weak linkage.

SUSHI:

It was brought back by the market. It rose sharply when it rose, and it could be linked when it fell. The overall situation is still in the past, but it is too difficult to move independently in the short term.

The overall weakness, if you participated in the dips according to the strategy yesterday, you can come out first, because the callback is weaker than expected, we must continue to control the position and wait patiently for opportunities.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-whale-kept-buying-on-the-left-side-and-the-bottom-interval-gradually-appeared/
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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