BTC market analysis report

One week review: Last week, the market panic was amplified due to the German government's continuous liquidation of BTC, which caused the market to oversell twice in a row and bottomed out around 54,000. In fact, the core reason for the oversold market is the recent worsening liquidity. At present, the German government has completely liquidated and no longer has any emotional impact on the market. On-chain data shows that last week, US institutional BTC spot has continued to flow in for five consecutive days, with a total amount of more than 800 million US dollars, which has played a very important role in Bitcoin's stabilization and rebound.

Next week's outlook: There will be no important macro data updates next week, but the S-1 and S-3 in the#ETHspot ETF should be passed next week. I wonder if it can improve market sentiment? On the negative side, pay attention to the impact of the hype of the Mentougou compensation payment on market sentiment.

Weekend operation suggestions: In recent months, market liquidity has been very poor, and it is even worse on weekends. The worse the liquidity, the more likely it is that there will be random spikes in the market, especially for some small-cap altcoins, which rise and fall arbitrarily and have uncontrollable risks. Try to do as little as possible at this stage.

Market forecast: It is expected that Bitcoin will fluctuate around the 56800-59200 range over the weekend, and Ethereum will fluctuate around the 3070-3210 range. The order opening strategy is mainly low-long, supplemented by high-short. Remember to bring stop loss when opening high. The mainstream altcoins focus on bnb, sol, and op. Bnb is recommended. There are three reasons for the bullish outlook: ① July 14 is the seventh anniversary of Binance, ② No mining new products have been released for more than 20 days (normally two to three times a month), and ③ Lao Zhao is about to be released from prison.