✍️Reviews of Cognitive Society
Bitcoin hit 43440 and then rebounded because of the sharp drop of 42500 in the US employment data, which shows that apart from major events such as the US interest rate hike and cut and the CPI rebound, other minor events are unlikely to affect Bitcoin.
Bitcoin's four-hour MACD has never formed a positive number, indicating that each sharp rebound encountered relatively large selling pressure near 43,500, resulting in a sideways and volatile market, and still unable to get out of the unilateral market.
Today, the oracle sector has started to surge, which is consistent with what Cognition Society said before: Bitcoin will hold 41,600 and fluctuate sideways, and the altcoins will explode in turn because there is a lot of money in the market that wants to perform.
If Bitcoin continues to fluctuate sideways at this position, digesting the profit-taking of Bitcoin spot ETF through favorable conditions will have a significant impact on the Bitcoin's upward space in the second half of the year. Because the trading volume of Bitcoin spot ETF exceeds that of gold spot ETF at the time, it shows that the attractiveness of Bitcoin can be compared with that of gold. Grayscale sold almost all of its shares at the end of February, and Bitcoin spot ETF will be able to bring in incremental funds starting in March. Therefore, the sharp drop in Bitcoin and Ethereum are opportunities, and we are only afraid of a negative drop.
Cognition Society believes that the 8th level (depending on the individual's actual economic pressure) position around 43,000 is the most ideal, leaving 2 levels of positions to wait for the 24-year Bitcoin crash, which can be used for attack or defense.
🔍 Daily coin news interpretation
📍Ethereum developers will confirm the mainnet launch date for the Dencun upgrade next Thursday
According to Cointelegraph, Ethereum developers plan to set the mainnet launch date for the Dencun upgrade next Thursday (February 8), which will introduce several EIPs, including proto-dank sharding, which is expected to reduce Layer 2 transaction costs.
The Dencun upgrade will allow for the removal of Ethereum staking and is seen as an important update to attract more institutional investors to Ethereum.
Beiko said: "Assuming everything goes well by then, we will choose the mainnet fork time at ACDC next week." Christine Kim, vice president of research at Galaxy Digital, said: "There is an 80% chance that the Dencun mainnet will be activated by the end of March. Dencun may also be launched at the end of February, but said the probability is small, close to 40%."
Interpretation of Cognitive Society: Whether the second-layer protocol after the Cancun upgrade can produce phenomenal products is the key.
📍Bitwise CIO: Bitcoin ETF’s cumulative net inflows in 14 trading days exceeded gold ETF’s net inflows in the same period
Matt Hougan, chief investment officer of Bitwise, posted on the X platform that the cumulative net inflow of Bitcoin ETFs in 14 trading days reached US$1.7 billion, exceeding the cumulative net inflow of US$1.3 billion of gold ETFs in the same period.
Cognition Society Interpretation: Bitcoin is expected to become a new world asset, Cognition Society.
📍Superstate, an asset management company, issues a tokenized U.S. Treasury bond fund on Ethereum
According to CoinDesk, blockchain asset management company Superstate has launched its first tokenized U.S. Treasury bond fund product on Ethereum. The fund directly holds short-term Treasury bonds and targets returns consistent with the federal funds rate. Investors can deposit in the form of U.S. dollars or Circle's USDC stablecoins to obtain USTB tokens representing fund investments. The USTB token is designed to provide U.S. institutional investors with an alternative to stablecoins, allowing them to store cash on the chain and earn returns.
Cognition Society Interpretation: The charm of ether lies in the continuous discovery of new value.
📍The U.S. unemployment rate in January was 3.7%, and the seasonally adjusted non-farm payrolls in January increased by 353,000
According to Jinshi, the U.S. unemployment rate in January was 3.7%, expected to be 3.80%, and the previous value was 3.70%. The seasonally adjusted non-farm payrolls in the United States in January were 353,000, the largest increase since January 2023, expected to be 180,000, and the previous value was 216,000.
Interpretation of Cognition Society: Why is the increase in employment bearish for risk assets? It means that the US economy is recovering well, and the time for interest rate cuts will be later.
Summary: Bitcoin is considered to be in a strong consolidation if it holds 41,600; Bitcoin's 16,000 will be an extremely important bottom area for the 2024 bull market. Long-term K-line research focuses on Ethereum UNI and Link.
📊Short-term data for February 2
🏷Bitcoin
Support: 42500 41800
Pressure level: 43500 44300
🏷Ethereum
The highest price of Ethereum on February 2 was 2324, which is consistent with the pressure point of 2330 in yesterday’s article.
Pressure level: 2330 2380
Support: 2285 2265
🏷 him
It’s stuck at 6.36
Support level 6.1 6
Pressure level: 6.34 6.5
🏷LINK
Sure enough, it went to 19
Pressure level: 19 20
Support: 18 17.4
🏷1000SATS
0.00048 is indeed the lowest point, and it repeatedly hits 0.00055
Hope of bottoming out again. You can pay attention to around 0.00048 and 43
🏷1000RATS
The lowest 0.22 is expected. Note that 0.22 0.2 is an important support. If it is broken, it will bottom out.
Support: 0.22 0.2
AI
1.1 0.96 is a good short-term support position
For AI sector, you can pay attention to the long-term trend of 0.3 to 1, but don’t chase high prices
🏷BNB
Weakling
Earth Cognition Society exclusively reminds you to invest in BNB from 210 to 180
As long as Binance doesn’t crash, BNB 210 will be invested to 180BNB
Support: 300 296
Pressure level: 305 309
🏷
The lowest is 17, and 20 is a strong pressure point
Pressure level: 18.5 20
🏷CRV
Cognitive Society CRV is also losing money
Pressure level: 0.47 0.49
Support: 0.43 0.41
🏷OP
2.8 2.6 is the support level 3.3 is the strong resistance level
Cognition Society was the only one who reminded us to upgrade Cancun when the OP bottom was around 1.3.
Pressure level: 3.1 3.2
Support: 2.9 2.8
The plunge is in batches. Pay attention to some long-term ones waiting for Cancun to upgrade.
🏷ARB
1.7 rebound, want to stand firmly at 1.97
Cognitive Society Earth Exclusive Reminder "ARB" 0.9 below the fixed investment, for example 0.88 0.85 0.82 0.79 0.76 0.73. The actual minimum is 0.74
🏷NEAR
2.85 2.75
Cognitive Society is the only one that reminds you to invest in near 1.3 to 1
1.3 to 1 near configure some long lines
Pressure level: 3 3.1
Support: 2.85 2.75
🏷BLUR
0.63 0.66 is a small pressure point 0.68 0.7 is a strong pressure point
0.6 0.58 is support
