Topic in Discussion
BTC went all the way up to about $4,200 from $3,200 in five days. It was during these five days that investors went through a cycle of buying high and doubting. They wondered where the gains would stop and whether they should get in the market or not.
BTC pulled back after being blocked at $4,200 as scheduled, which is also in line with short-term technical indicators. Under the the strong rise at the daily chart, BTC vibrated slightly with shrinking volume. $4,000- $4,100 supported the decline in the correction, indicating that the long side defensed strongly above $4,000. In the short term, BTC will continue to challenge the above $4,300 at this position. The bottom of the fluctuation range is around $4,000, because the 5-day line has been raised to $3,900, it is relatively safe at this support level.
Other mainstream currencies ETH and EOS continue to move with BTC; ETH, which is starting to show signs of breaking out of its slump after breaking through $100; but EOS remained weak and yesterday's weak rebound did not last. In addition, TRX, BCH, BSV produced independent market, up sharply, but continued to shrink, and a small market consolidation was needed.
As of 6pm on December 21, according to CoinMarketCap data, the total market value of digital money market is $132.07 billion, which is $970 million less than yesterday's total market value, down 0.73% month-on-month. Total market turnover was $26.55 billion, up $2.93 billion from yesterday and up 12.40% month-on-month.
Today, the major stablecoins changed as follows, USDT current price was $1.02, down 0.52%; The other four stablecoins all fell slightly, among which GUSD dropped 7.79% to $1.01. TUSD, USDC and PAX fell 0.23% on average to $1.01. Affected by the pullback of BTC and other mainstream currency, the demand of stablecoin decreases, and the market price of all stablecoins has been somewhat pulled back.
Mars Finance monitors 35 of the top 100 digital currencies by market value, with 49 of them rising within the range of -5%. The 100 digital currencies rose by an average of 0.22%. Buggyra led the way with an increase of 78.2%, followed by Bitcoin Cash (33.27%) and Bitcoin SV (22.40%). DEX was the worst performer, down 20.24%, followed by QASH, down 13.22%.
BTC adjusted down as scheduled, and the correction range verified the strong support between $4,000 and $4,100. Currently, it is likely to fluctuate within the range of about $4000 for a period of time, and may challenge the pressure line of $4,300 in the after-market and generate a strong rising market.
The main net outflow is 449 million yuan in 24 hours, the retail net outflow is 380 million yuan, which showed a strong short dominated market.
BCH continued to lead the rally today as BTC opted for a pullback and repair, following yesterday's ultra-high volume and rally, but both gains and volume were not comparable to yesterday's and it retreated at $235. And BCH showed a ladder rising in small level charts, it is the passive response after main force is a little weak. Since the upside space above was relatively large, it may save up strength and go up after stepping back on the $205 or so in the short term.
The main net inflow is 13.1847 million yuan in 24 hours, the retail net outflow is 4.5243 million yuan, which showed a strong long side dominated market.
The trend of BSV is much weaker than that of BCH. Every time there is a big rise, there will be a big fall. After recovering the rise, it will surge again. The hatching line above and below are both long, so it has more chances above the short line.
ETH saw a strengthening trend since breaking through $100, but is struggling to make an independent rising trend like TRX and BCH. It is currently on the support of $115 and may rebound with market after consolidation in the short term.
The main net outflow is 5.415 million yuan in 24 hours, the retail net outflow is 383 million yuan, which showed a strong long side dominated market.
As of 6pm, 4 out of 27 blockchain industry sectors of 5 classifications went up, according to TokenInsight. Among them, "general platforms" sector saw the best performance with an average increase of 2.90%, followed by "other platforms" sector with an average increase of 0.28%. The "financial platforms" sector saw the worst average decrease of 12.04%, followed by the "decentralized exchanges" sector with an average decrease of 9.97%.