The main driving force of this wave of market comes from the United States. The Bitcoin price of Coinbase has been ahead of Binance. Throughout last week, the capital inflow of Bitcoin ETF exceeded 3 billion US dollars. The explanation given by Coinbase as the authority is that sovereign funds are buying crazily. This is the most important reason why Bitcoin soared from 85,000 yuan to 95,000 yuan last week.
Judging from the price trend, BTC has only risen from US$87,000 to US$94,000. The overall increase is not surprising, reflecting that the bearish atmosphere in the market is still strong and most people are still bearish. When it was about to break through 90,000, the liquidation chart showed that there were short liquidations of about hundreds of millions of dollars, but it was also a leverage liquidation behavior.
At present, if BTC does not choose to pull back, but continues to rise, it will be difficult to break through the $100,000 mark in the short term. This round of rise lacks obvious and strong positive news, and the possibility of market sustainability is low. The Americans are basically resting on the weekend. Although it is a working day in China, the trading volume is obviously not at the same level as before Friday.
In the past two days, Alpaca has performed a textbook operation of market control. Even if it is about to be delisted by Binance, it can still give the feeling of being in a bull market with its high level of market control. Even market makers are applying to the project party for a temporary increase in issuance to cope with high demand. The project party issued an announcement saying that there would be no additional issuance, which made the price of the currency rise even more sharply. Even the news released by He Yi that the price increase of Alpaca may be an attempt by investors who bought the shell to make a profit, this negative news could not stop the upward trend.
It is said that alpaca dog dealer used the delisting news to attract speculators to short sell, and then turned around and opened long orders to pull up the market, directly blowing up all the short positions. In addition, ALPACA's funding rate once fell to -2%, which means that short sellers not only face the risk of liquidation, but also have to pay high "interests", accelerate position closing, and push up prices. The long orders of the dog dealer, on the contrary, also eat up the interest rates, and then use the money earned to cycle through pulling up the market and going long, resulting in a 10x increase in the price after the delisting.
However, for this kind of currency that has been forcibly controlled, the final result is like a needle stuck to the bottom, and you will have a "free fall" at any minute. When the exchange posts a delisting announcement, it will drop directly to zero. The more it rises now, the tighter you will be trapped later!
There is a lot of macro data next week:
Tuesday: U.S. March labor turnover data
Wednesday: U.S. first quarter GDP and price index
Thursday: Bank of Japan rate decision Friday: U.S. April non-farm payrolls and unemployment rate
At the same time, there are tokens unlocked, and it is worth noting that there are 74 million SUI and 31.34 million OP.
Today’s sharing ends here. I wish you all a happy weekend. The probability of the market choosing a direction next week will increase. There will be macro data released, so keep a close eye on it!
Brothers, come to the chat room and gather: