Topic in Discussion
BTC rebounded strongly yesterday from $3,350 to a peak of $3,800 with an amplitude of 14%. Late in the evening, it rose to a high of $3,789 from $3,500, then vibrate downward. Although today BTC is still in a volatility down trend, but in fact it has been push the recent volatility platform of $3,400, $3,500 to $3,600 position.
Now, the trend of BTC is that there are a host of buyers buying at $3,300 and also a large number of sellers selling at $3,800, so in the context of a global economic bear market, it doesn't make much sense to talk about whether a project is good or not, unless there are big events like bitcoin ETF that can turn the whole market around.
Will the price of BTC continue to fall? Yes.
$3600, $3500 are not very strong support levels, within the range of $3000-$4000, it can be said that there is no absolute support, never underestimate the determination of new entrants, also do not overestimate the compassion of the organization. Previously, according to the recent trend and market environment, we analyzed that the main trend of BTC in the future is low range-bound, which is also based on the expectation of all parties on the bottom position of BTC.
Can BTC price rebound greatly? Yes.
Whether it is body temperature or psychological temperature, we all feel that the winter has come. Most projects have already fallen out of the psychological tolerance level, and for bitcoin, $3,000 is the psychological bottom of most people, so the price above this position will appear frequent large fluctuations. Like the two surges of BTC occurred in the last two days, even if it pulled up very sharply, there are also new entrants chasing up the high and hanging in the high, let alone futures investors after a straight up and down market.
The current market is at most at the overall bottom-hitting stage of the pre-bull market, not even to the theoretical bottom of $3,000.
As of 6pm on December 10, according to CoinMarketCap data, the total market value of digital money market is $112.89 billion, which is $1.78 billion less than the total market value of yesterday, increasing by 1.60% month on month. The total market turnover is $14 billion, which is $150 million more than yesterday, increasing by 1.12% month on month.
Today's major stablecoin movements are as follows, USDT current price is $1.02, down 0.11%; The other four stablecoins TUSD, USDC, PAX and GUSD all rebounded slightly, but remained at $1.02. TUSD, GUSD, USDC and PAX all increased currency circulation. Because market fluctuation strengthens recently, stablecoin demand picks up, although current market price drops, but all major stablecoins increase currency circulation.
Among the top 100 digital currencies monitored by Mars Finance (WeChat: hxcj24h), 66 rose, and 57 rose within the range of 0~5%. The 100 digital currencies rose by an average of 1.83%. DEX increased 58.28% and Centrality increased 12.76%, respectively. Tezos was the worst performer, down 7.58%, followed by MOAC, down 5.98%.
Although this big pull raised the volatility range of BTC to $3600, the 4-hour trend continued to be weak, and the volume shrunk seriously, and it was more likely to continue to decline after falling below $3600. Short - term market, BTC may vibrate down and stop at $3470.
The main net inflow is 47.86 million yuan in 24 hours, and the retail net inflow is 96.69 million yuan, which showed a the strong long side dominated market.
ETH's short-term performance is a lot better than it was before, overall up from $83, but the pressure of $100 is still the force that holds ETH in its throat. After being blocked at the $100 level, the two pull-ups were sharply lowered. Today's decline has wiped out all the pull up volume of the last night. The 4-hour DIF and DEA moved up gently, and may vibrate at around $92 to save up strength.
The main net outflow is 8.83 million yuan in 24 hours, and the retail net outflow is 256 million yuan, which showed a the strong short side dominated market.
EOS has rebounded continuously in recent days. It has risen more than 30% since the low point of $1.55, and it still maintains a strong upward momentum. The 4-hour MACD index moved smoothly upward and was pulled up strongly in the short term. But the overall shrinking trend and a large outflow of contract trading funds make the current rebound in the short term may not be sustainable, the after-market will continue to be weak.
The main net outflow is 17.54 million yuan in 24 hours, and the retail net outflow is 112 million yuan, which showed a the strong short side dominated market.
As of 6pm, 20 out of 27 blockchain industry sectors of 5 categories went up, according to TokenInsight. Among them, "entertainment and gaming platforms" sector saw the best performance with an average increase of 4.38%, followed by "payment and financial protocols" sector with an average increase of 3.03%. The "energy and mining applications" sector saw the worst average decline of 2.31%, followed by the "governance protocols" sector with an average decline of 2.29%.