Dec. 4 Mars Market Recap: BTC Rebounds by 5% Back to $4000; Platform Tokens Boom Sparks Concern, HT Stays Strong and BNB Leads the Rise

Dec. 4 Mars Market Recap: BTC Rebounds by 5% Back to $4000; Platform Tokens Boom Sparks Concern, HT Stays Strong and BNB Leads the Rise

Dec 4th| Investment By:Mars Finance
$4,000 remains a key level, and if today's rally fails to stabilize, the market could continue to fall.

Topic in Discussion

The BTC saw a sideways adjustment after felling below $4,000 last night to $3,850 support, and continued to decline below $3,785 today, followed by a rebound of 5% to above $4,000.

The straight up and down trend of BTC confirmed our judgment yesterday, the current digital currency bear market is far from over, the long side is still afraid to take the plunge to pull up, and the short side also continue to carry out small trades. BTC short-term range-bound is likely to continue the passive war between bears and bulls.

$4,000 is still the key point, if today's rebound can not hold firm and fell back to $3,800, this will be a major blow to investor confidence, and the market may continue to fall. But if today's rebound steady at $4,000 and rise afterwards, the above $4,200 may be broken after a series of tests, which would signal a continuation of the rally later.

In addition to BTC's range-bound in the low post, the recent boom of platform tokens sparked concern. HT has an independent rise with volume for three consecutive days, although today it had slight callback under the market pressure, but it is still hovering around $1.25. Although it has the upper pressure of $1.3, but technical indicators show that it still have a big rise space. While BNB opened an independent market today, continuous rise more than 7% with volume, leading up the main currencies.

Market Overview

As of 6:00pm on December 4, according to CoinMarketCap, the total market value of digital money market is $129.17 billion, which is $1.74 billion less than the total market value of yesterday, and 1.33% less than the previous month. Total market turnover was $14.79 billion, up $830 million from yesterday and 5.93% from the previous month.

Today, the major stable currency changes as follows, USDT current price of $0.999473, up 0.39%; the other four stable COINS TUSD, USDC, PAX and GUSD continued to fall slightly, but the current price remained at $1.01. TUSD, GUSD, and PAX increased the amount of money in circulation, and the USDC continued to decrease circulation.


Mars Finance (WeChat: hxcj24h) monitors 30 of the top 100 digital currencies by market value, with 53 of them falling within the range of -5%~0. The 100 digital currencies rose by an average of 0.22%. FREE Coin gained 137.99%, followed by Factom with 25.64%. Centrality fell 15.91% and Mithril was the worst performer, followed by 13.00% and 23.36% respectively.


Market Forecast

BTC

BTC rebounded sharply after diving to $3,785, up 5% in 1 hour. Although the current market price has returned to $4,000, if it fails to stabilize at this position in the short term, a correction may lead to further decline.

The main net outflow is 17.75 million yuan in 24 hours, retail net outflow is 301 million yuan, which show a strong short dominated.


HT

HT is under strong pressure at $1.3 and the long side has a strong ability to protect the market. Current trend appears a rise triangular. If it breaks through $1.3 upward, an ascending channel may be established. However, the current 4-hour MACD index trend is weaker, the volume declines significantly, and the capital outflows, if it cannot break through the upper pressure for a long time, it will be significantly reduced, or to $1.2 position support.

The main net inflow is 6.45 million yuan over 24 hours, retail net inflow is 10.17 million yuan, which show a strong short side dominated.


BNB

BNB continued to rise with volume today, but the trend is careful, the hour line sharply pulled up, followed by a corrective market. The current 4-hour MACD index continues to rise, but the volume goes down, and the current trend of BNB has begun to callback, it may volatile above $5.40 after a strength accumulation. It is difficult to pull up in the short term.

The main net inflow is 259,700 yuan over 24 hours, retail net outflow is 7.9226 million yuan, which show a strong long side dominated.


Industry Overview

As of 6pm, 12 out of 27 blockchain industry sectors of 5 categories went up, according to TokenInsight. Among them, "other applications" sector saw the best performance with an average increase of 9.06%, followed by "information technology service platforms" sector with an average increase of 7.47%. The "information technology service applications" sector saw the worst average decline of 3.49%, followed by the "entertainment and gaming applications" sector with an average decline of 2.87%.