BTC may further pull back, traders should be careful to buy bottoms.

The Biden administration is working on a legislative framework for the fast-growing crypto asset, sources said. The news echoes last week's support for the Treasury Department from the Biden administration. Earlier, major U.S. institutions believed that the U.S. was about to formulate rules for the encryption market. At present, the clear regulatory policies in the U.S. are indeed expected to be implemented this year. It is worth mentioning that the phenomenon of retailization in the encryption market is indeed becoming more and more obvious. Once there is a profit, it may increase the depth of the correction in the encryption market.

Judging from the data, the trading volume of BTCC has increased sharply, the selling pressure of GBTC has also decreased, the number of BTC holding addresses has increased significantly, and the amount of locked BTC in DeFi has increased by a net of 4497 pieces. This shows that with the decline of BTC, a large number of bottom-hunting funds have emerged in the market, and the lower support of BTC is still strong. On the whole, the bull market is not over.

From the technical chart, BTC currently falls below MA65 in the short term. If the closing price at 8:00 tomorrow does not stand firm at MA65, there is a high probability that BTC will pull back further. At present, MA5, MA13 and MA30 are in a bearish pattern, and traders should not buy bottoms in the short term. The support below BTC is $50,000 and the resistance is $55,000.

BTC breaks through the $40,300 mark with an intraday drop of 1.29%: According to data from Huobi Global, BTC has risen in the short term, breaking through the $40,300 mark, and is now at $40,304.14, with an intraday drop of 1.29%. The market fluctuates greatly, so please do a good job in risk control. [2021/1/9 15:41:46]

1. BTC may further pull back. In addition, the phenomenon of retailization in the encrypted market is indeed becoming more and more obvious. Once there is a profit, it may increase the depth of the BTC correction.

2. According to the Huobi Global market, BTC has fallen below MA65 in the short term. If the closing price at 8:00 tomorrow does not stand firm at MA65, there is a high probability that BTC will pull back further. At present, MA5, MA13 and MA30 are in a bearish pattern, and traders are short-term It is not yet suitable to buy the bottom. The support below BTC is $50,000 and the resistance is $55,000.

3. The computing power of BTC mining has dropped sharply, and the output of bitcoins mined by miners has also dropped sharply. The selling volume of BTC has also shown a downward trend. The selling pressure of BTC miners is still relatively low as a whole.

BTC fell below $9,000 in the short term: According to data from Huobi Global, BTC fell below $9,000 in the short term, with an intraday drop of nearly 1%. The market fluctuates greatly, please do a good job in risk control. [2020/3/6]

4. The number of BTC holding addresses has increased significantly, and the amount of BTC locked in DeFi has increased by a net of 4,497. With the decline of BTC, there are obvious signs of bottom-hunting funds, and there is still strong support below BTC.

5. The trading volume of BTCC has increased sharply, and the selling pressure of GBTC has also decreased. There is a lot of attention outside the market. With the decline of BTC, there are a lot of bottom-hunting funds in the market.

6. Short positions occupy a clear advantage. The ratio of the number of BTC long-short positions has stabilized and rebounded. The market is still relatively bearish, and BTC still has the possibility of further correction.

7. Today, the mainstream crypto index in the crypto market has generally fallen, among which the mainstream coins with mid-market capitalization have fallen the most. There are obvious signs of capital flight, and the market is under severe selling pressure.

Dynamics | BTC’s 24-hour net outflow of funds is 164 million yuan: According to AICoin data, ROAD ranks first in the 24-hour net inflow ranking, with a 24-hour net inflow of 157 million yuan; TRX’s 24-hour net inflow ranks second, and its 24-hour net inflow ranks second. The inflow was 134 million RMB; SEELE ranked third in terms of 24-hour net capital inflow, with a 24-hour net inflow of 128 million RMB. The net outflow of BTC funds in 24 hours was 164 million yuan. [2020/1/20]

The Biden administration is working on a legislative framework for the fast-growing crypto asset, sources said. The news echoes last week's support for the Treasury Department from the Biden administration. Earlier, major U.S. institutions believed that the U.S. was about to formulate rules for the encryption market. At present, the clear regulatory policies in the U.S. are indeed expected to be implemented this year. The trend of Bitcoin is basically consistent with our judgment yesterday, and BTC may pull back further.

It is worth mentioning that the phenomenon of retailization in the encryption market is indeed becoming more and more obvious. Once there is a profit, it may increase the depth of the BTC correction. South Korea's cryptocurrency trading volume surpassed stock market trading volume for the first time, and the "kimchi premium" phenomenon in South Korea is already serious. In addition, Dogecoin, which is very popular among retail investors, also performed very well. More than 130,000 people have signed a petition calling on Amazon to accept Dogecoin as a payment method. According to the Twitter trend list, topics related to Dogecoin such as #DogeDay# have appeared on the Twitter trend list in multiple regions, and have become hot searches on Twitter in multiple regions. Supporters of Dogecoin named April 20th "DogeDay", saying they would push Dogecoin to rise to $1.

Market 丨 BTC fell by more than 1% for a short time and briefly fell below $7,100: According to data from Huobi Global Station, BTC fell by more than 1.00% within 5 minutes, with a minimum drop of $7,088. The current quotation is $7,114.01, and the market fluctuates greatly. Please pay attention to risk control. [2019/12/27]

According to bytetree data, from the accumulated data of miners’ production and selling, it can be seen that BTC mining computing power has plummeted, miners’ mining output of Bitcoin has also dropped sharply, and the volume of BTC selling has also shown a downward trend. The overall selling pressure of BTC miners is still relatively low. lower.

Announcement | South Korean Upbit exchange BTC/ETH/USDT market delays sending and receiving some cryptocurrencies, it is recommended to use the Korean won (KRW) market: According to the official announcement, South Korea's Upbit exchange is currently experiencing delays in the sending and receiving of some cryptocurrencies in the BTC/ETH/USDT market. It is recommended to use the Korean Won (KRW) market first. Upbit is dealing with this issue and will notify you when the issue is resolved. [2019/3/28]

According to Oklink data, by observing the number of currency-holding addresses, it can be seen that the number of BTC currency-holding addresses continues to increase, and the signs of market accumulation are still strong. The locked-up amount of BTC anchor assets in DeFi was 202,910 yesterday (202,944 yesterday), and it was 207,441 as of 17:00 today, and the locked-up amount of BTC in DeFi increased by a net of 4,497. On the whole, the number of BTC holding addresses has increased significantly, and the amount of BTC locked in DeFi has increased by 4,497 net. With the decline of BTC, there are obvious signs of bottom-hunting funds, and there is still strong support below BTC.

According to alternative.me data, today's panic and greed index is 73 (74 yesterday), and the greed and panic index is slightly lower. The Baidu search-zce index shows that the search-zce volume of Bitcoin has further increased, and the market attention is still at a high level. According to Coin data, as of 16:00 today, the current funding rate of BTC is +0.01% (+0.01%); according to data from the Toronto Exchange, the trading volume of BTCC throughout the day is 1,376,472 (749,571 yesterday), and the trading volume of BTCC has risen sharply; The grayscale GBTC premium rate is -9.3% (-12.0%), and the selling pressure of GBTC in the US stock market has decreased. The current Bitcoin RSI 14 (relative strength index for buying and selling) is 41.1 (40.2), and the overall buying power is at a low level. On the whole, the trading volume of BTCC has increased sharply, the selling pressure of GBTC has also decreased, and the attention outside the market is very high. With the decline of BTC, a large amount of bottom-hunting funds appeared in the market.

According to Coin data, as of 15:00, the long-short position ratio of the entire BTC network is: long 47.77%, short 52.23%, and short positions clearly dominate. According to Ouyi OKEx contract data, on the hourly chart, the ratio of BTC long-short positions has stabilized and rebounded, and the short-term bullish sentiment in the market has increased slightly. On the whole, short positions have a clear advantage. The ratio of the number of BTC long-short positions has stabilized and rebounded. The market is still relatively bearish, and BTC still has the possibility of further correction.

According to Chainext data, the mainstream crypto index in the crypto market has generally fallen today, among which the mainstream coins with mid-market capitalization have fallen the most. There are obvious signs of capital flight, and the market is under severe selling pressure. At present, within 24 hours, among the top 100 currencies, only MCO (15.809%) and DOGE (13.888%) have risen.

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