11.29 noon market: Bitcoin starts long-covering market downside risk has not yet ended

Sunrise in the east and rain in the west, Tao is ruthless and still has love. Just this weekend, Bitcoin ushered in a rapid rebound at the hourly level. You must know that this week's market is a standard extreme trend. Bitcoin is close to the record high of 19875 US dollars, forming a high of 19485 US dollars, only 390 US dollars away from the historical high, and such a close to the new high is that Bitcoin has reached two time levels at the same time after completing the monthly rising Westward Journey and the weekly rising Westward Journey Standing behind the Tang monk. This allowed the bears to find an opportunity to launch a downward catharsis near the rising node. After the low of $16,200 appeared, Bitcoin completed the first round of callback at the 4-hour level and started the current hourly level rebound on the disk.

ensmaxisnft.eth was traded at a price of 111.69 ETH, setting the fifth highest transaction record in the history of the series: Jinse Finance reported that according to the latest data from NFTGo.io, ensmaxisnft.eth has been traded at a price of 111.69 ETH (approximately $166,371.69), setting a new record for Ethereum The domain name service ETH-denominated transaction volume is the 5th highest record in history. Up to now, the total transaction volume of ENS has reached 103.03 million US dollars, and the market value is about 68.85 million US dollars. The transaction volume in the past 24 hours is 390,448.43 US dollars, an increase of 43.61%. [2022/7/28 2:42:27]

Judging from the current disk trend, this round of rebound has not yet been completed to cover the gap. There is a high probability that the bulls' covering target will appear around $18,000. What the bulls have to beware of on the disk is that after completing the weekly and monthly upward journey westward, there is a high probability that what will happen is a daily to weekly downward journey westward. The currently completed 4-hour level decline westward journey is part of the daily level decline westward journey. Judging from the observation angle of the daily level, as long as Bitcoin cannot break through 18,500 US dollars to reach the top of the daily Bajie Yin line. The chances of a daily decline on the Westward Journey are still very high. If the final daily decline is formed, the price of Bitcoin will reach around $14,500.

The DeFi benchmark interest rate is 11.89% today: Jinse Finance reported that according to peer customer data, the DeFi decentralized finance benchmark interest rate was 11.89% on May 13, a decrease of 0.73% from the previous day. During the same period, the US Treasury bond mortgage repurchase rate (Repo Rate) was 0.02%, and the interest rate difference between the two was 11.87%.

The DeFi benchmark interest rate represents the difficulty of DeFi financing. The higher the interest rate, the higher the financing cost, and the lower the interest rate, the lower the financing cost. The interest rate difference between it and Repo Rate is convenient for comparison between DeFi and traditional markets. [2021/5/13 21:57:43]

At the same time, it should be noted that the daily decline is often a part of the weekly decline. If Bitcoin has a symmetrical decline at the weekly level, it will produce a symmetrical rise and fall at the weekly level. Then the target point of Bitcoin in the short direction The bit is about to reach around $12,500. I believe that such a trend is something that bulls and spot holders are absolutely unwilling to see, but this is something that may happen to Bitcoin at the end of the year.

Pantera Capital CEO: Bitcoin on track to hit $115,000 this summer: “Bitcoin is now on track to hit $115,000 this summer compared to our projected April 2020 timeline,” Dan Morehead, CEO of blockchain hedge fund Pantera Capital, said in an email. In advance, it will hit $115,000 this summer." Pantera's forecast is based on the S2F model, an analytical framework that evaluates asset prices based on the asset's annual issuance schedule, a measure of Bitcoin's scarcity. (CoinDesk) [2021/3/17 18:51:42]

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