Hello everyone, welcome to Wanqian Talks Trends. We focus solely on the trends of mainstream coins. The study of left and right-side trading models, as well as the understanding of medium to long-term and short-term fluctuations, will be continuously updated. Thank you all for your attention. In the cryptocurrency circle, when some people are laughing, there will be others crying; I hope everyone is among the former!
$BTC Bitcoin's price exhibited significant volatility yesterday, first breaking below the hourly rising trend line and rapidly falling near the $105,000 mark without signs of stagnation, before rebounding in the evening. The current market continues a random oscillation pattern, with short-term technical support levels frequently failing, significantly increasing participation risk; investors are advised to stay on the sidelines. From a daily perspective, the $100,000 area serves as a key battleground for bulls and bears. If this support platform is breached, it may trigger a new round of deep corrections. Notably, on-chain data shows that the number of active Bitcoin network addresses and transaction volumes have declined for three consecutive months, with the number of UTXOs dropping to bear market levels of 2023. Coupled with a sharp decrease in the inflow of Bitcoin spot ETF funds from the US, there are clear signs of institutional capital outflows, further intensifying market sell-off pressure.
$ETH Ethereum's trend is similar to Bitcoin's, oscillating within a 300-point range of $2450 - $2750. Although the technical upgrade in May led to a phase of leading gains, the current on-chain buying momentum is insufficient, lacking the funds to sustain an upward push. In terms of operations, one can grasp opportunities for high selling and low buying within this range, attempting to short near $2750 and lightly buy near $2450, but it is necessary to closely track market changes and flexibly adjust positions and stop-loss points.
Tonight's Federal Reserve policy statement will become the market focus. If the Federal Reserve signals interest rate cuts or expansionary measures, it will promote global liquidity, and some funds may flow into the cryptocurrency market, boosting the prices of mainstream coins like Bitcoin and Ethereum; conversely, interest rate hikes or hawkish statements will tighten liquidity, triggering a sell-off of risk assets and increasing downward pressure on coin prices. Additionally, the content of the resolution will impact market sentiment and investor expectations, which will be indirectly transmitted to the cryptocurrency market through capital flows. Investors are advised to closely monitor policy wording and dot plot changes and be prepared for risk hedging.
In the cryptocurrency circle, it's a battle between retail investors and whales. If you don’t have cutting-edge news or first-hand information, your starting line is not equal; countless efforts are only to help more people learn trading and teach them how to fish!
The article is timely; the market changes rapidly. Focus on real trading; the above suggestions are for reference only!
Investment carries risks; proceed with caution when entering the market.
