Data Analysis:
According to the current market liquidation map, the overall market is dominated by bulls. Based on the current Bitcoin price around $119,900, if the market fluctuates up or down by $2,000 and rises again to around $121,900, the estimated cumulative liquidated short amount will be about $2.2 billion. Conversely, if the market falls to around $117,900, the estimated cumulative liquidated long amount will be about $1.38 billion;
According to the current Ethereum liquidation map, the overall market is currently dominated by bulls. Based on Ethereum at around $4,618, if it fluctuates up or down by $100 and rises again to around $4,718, the estimated liquidated short amount will be about $1.04 billion. Conversely, if Ethereum falls to $4,518, the estimated cumulative liquidated long amount will be about $946 million.
The Bitcoin and Ethereum spot ETFs saw a net outflow of $45.5 million and a net inflow of $60.3 million yesterday, respectively.
Market Opinion:
Market Direction: Bullish. Currently, the market is temporarily in a sideways consolidation on the 4-hour chart, while Ethereum's 4-hour chart is generally upwards, indicating that institutional players are pushing Ethereum up. This also suggests that the market and Ethereum are taking turns in driving the prices, which has led most altcoins to trend upwards as well.
Personally, I believe that following the current pace of institutional buying of Ethereum, it is likely to move towards the $5,000 range. Although last night’s CPI data was slightly lower than market expectations, it does not hinder the market's anticipation of the Federal Reserve's interest rate cut in September, further boosting market sentiment to be more positive and optimistic. Therefore, as Ethereum pulls back, it is advisable to buy the dips. However, with the continuous rise, the risk factor will also increase, so please pay attention to the risks and maintain a rational approach.
Daily Analysis:
BTC short-term focus on the lower side around $118,000, upper short-term focus around $122,000
ETH short-term focus on the lower side around $4,480, upper short-term focus around $4,780
SOL short-term focus on the lower side around $186, upper short-term focus around $200
Contract Strategy:
BTC suggests going long if it drops to around $118,500 or buying on dips
Take profit at $119,500, $120,500, $121,500; stop loss at $116,500
ETH suggests going long if it drops to the $4,500-$4,550 range or buying on dips
Take profit at $4,600, $4,700, $4,800; stop loss at $4,350
SOL suggests going long if it drops to around $188 or buying on dips
Take profit at $194, $197, $200; stop loss at $185
Friendly Reminder: Don't be greedy, secure profits, it's better to take a small loss than to hold a losing position!