Daily original updates, spend your precious three seconds to follow Cognition Society
🔹Reviews from Cognitive Society
Bitcoin's sharp drop to a low of 60,200 on October 10 coincides with the support level of 60,000 in yesterday's article.
Bitcoin was rebounding, but the negative CPI data interrupted the rebound.
The CPI data is higher than expected, which is a small negative, but Cognition Society does not think it is that simple, because the unsatisfactory CPI data makes it more likely that the interest rate will be cut by 50 basis points in November; at the same time, the small increase in CPI data also shows that the economy is not in recession, so it is actually neutral strictly speaking.
Bitcoin's 60,000 is the core support level. If it holds, a new round of price rise will occur. If it fails, it will fall back.
Bitcoin's pressure level of 62200 is stuck, and the market needs new momentum.
US spot Bitcoin ETF had a net outflow of $30.56 million yesterday
The net inflow/outflow of the US spot Ethereum ETF yesterday was 0
📍Interpretation of Cognition Society: Institutional buying desire for Bitcoin is not high, and Ethereum is even lower.
Mt.Gox: Compensation deadline will be extended by one year to October 31, 2025
Mt.Gox officially announced today that the bankruptcy administrator has basically completed the compensation work for the bankruptcy creditors who have completed the procedures required to receive compensation and did not encounter any problems in the compensation process.
However, many bankruptcy creditors have not yet completed the procedures required to receive repayment, and therefore have not yet received repayment; in addition, due to various problems arising in the repayment process, a considerable number of bankruptcy creditors have not yet received repayment.
In order to compensate these bankruptcy creditors as reasonably as possible, the bankruptcy administrator, after obtaining permission from the court, changed the compensation deadline from October 31, 2024 (JST) to October 31, 2025 (JST).
📍Interpretation of Cognition Society: The negative impact of Mentougou has finally been resolved after so many years, and only the Bitcoin in the United States has not been sold out.
South Korea’s financial regulator may lift the ban on spot cryptocurrency ETFs
South Korea’s top financial regulator said it would reevaluate lifting the existing ban on local spot cryptocurrency ETFs and institutional accounts on cryptocurrency exchanges, The Block reported. The Financial Services Commission (FSC) said in its annual audit report on Thursday that its newly established cryptocurrency committee will review the current ban. This indicates a shift in the regulator’s strict opposition to digital assets entering the traditional financial market.
Following the approval of a spot Bitcoin ETF in the United States in January, the country's regulator reiterated its decision to maintain a ban on local cryptocurrency ETFs, citing the risks it could pose to financial market stability. Lawmakers in the country have been calling for change. Both the winning Democratic Party and the opposition party promised to approve a local spot Bitcoin ETF in the general election earlier this year. The winning left-wing party reportedly announced in May that it would ask the FSC to review the ban.
Since 2018, South Korean institutional investors have been effectively banned from opening cryptocurrency trading accounts on exchanges under strict guidance from the Financial Supervisory Commission.
📍In-depth analysis: Long-term benefits due to incremental funds.
🔹Summary: Bitcoin 60,000 is the core support level. Every time Bitcoin plummets, it is an opportunity for Ethereum to enter the market.
May 2024 is the mid-term of the bull market for Bitcoin and Ethereum. Every plunge is an opportunity. Long-term K-line research focuses on Ethereum UNI OP NEAR BLUR and Link Bread;
🔹Short-term data
Disclaimer: The K-line data analysis provided by Cognitive Society is based on data analysis, does not represent any position, and does not confiscate any project party a penny.
🏷Bitcoin
Support: 60000 58000
Pressure level: 62000 63000
🏷Ethereum
2280 is the key support level
A sharp drop in Ethereum is an opportunity to enter the market
Deploying Ethereum is the core strategy.
Pressure level: 2420 2500
Support: 2350 2300
🏷️SUN
Too weak to be able to rebound
🏷LINK
10 is an important support level 11.7 is a key resistance level
New value, new RWA leader, the plunge can be configured, cognitive society 22 23 years 5 layout LINK
🏷 him
Cognition Society believes that the value ranking of crypto industry projects is: Bitcoin Ethereum UNI SOL XRP
Uniswap Labs Launches Unichain, a Layer 2 Network Based on Optimism
On October 10, Uniswap Labs announced the launch of Unichain. Uniswap Labs said that after years of building and expanding DeFi products, it saw where DeFi needed to be improved and what was needed to continue to advance the Ethereum expansion roadmap. Unichain aims to be a fast, decentralized Optimism superchain L2, a chain for cross-chain DeFi and liquidity.
The Unichain testnet is live today, and the mainnet will be launched later this year. The Uniswap Foundation will provide funding and project support to help developers develop on Unichain.
Cognition Society believes that if UNI wants to take off, it needs to repurchase tokens with profits and then destroy them.
Pressure level: 8.3 8.6
Support: 7.7 7.5
🏷️WIF
2.2 2 support level 2.4 2.6 resistance level
🏷️BLUR
Support near 0.2 is weakening
🏷OP
1.4 is the key support level 1.9 is the key resistance level
Cognition Society believes that OP around 1.2 is still worth considering
Pressure level: 1.65 1.8
Support: 1.45 1.4
🏷CRV
0.255 Struggle
🏷️UN
1.8 1.6 is an important support level 2 2.2 is a pressure level
🏷️TREES
0.0068 is the short-term pressure level 0.00058 is the important support level
🏷1000SATS
0.0003 is the key pressure level and 0.00025 is the important support level.
Extremely volatile, strictly control positions
🏷1000RATS
0.01 is the key support level
1000RATS rebounds to near cost and reduces positions. After reducing positions, reduce the proportion of long-term positions. The fluctuation is too large and most people cannot bear it.
🏷NEAR
Huge fluctuations
When the price of NEAR23 is around 1, Cognition Society is the only one that reminds you to invest regularly when the price is around 1.3 to 1.
Pressure level: 4.7 4.9
Support: 4.4 4.2
🏷️YUP
0.72 0.66 is an important support level 0.82 is an important resistance level
🏷AI and NFP
The decline is too deep. It’s not that we won’t update, but we can only wait.
If you want to be strong, you need to stand firm at 0.65
🏷BNB
Because the new launch is very strong
BNB's weekly double top risk
On Earth, when BNB is around 200, Cognition Society exclusively reminds you to invest in BNB between 210 and 180
Support: 555 535
Pressure level: 575 585
Others, wait for more updates
🔹Understanding attitude towards making money
Cognitive Society does not like hindsight
I don’t like those KOLs who claim that they can make a lot of money.
If someone in the cryptocurrency circle could profit from the rise and fall of every coin
Leverage is not about making 10 billion a year
But the second largest exchange on earth saw the market makers manipulate the market, and it only lost billions and went bankrupt.
Form your own trading system and make money within your own cognitive scope. Don't fantasize about making money from every daily rise and fall, let alone the rise and fall of every coin. This person does not exist on the earth, nor does this kind of organization. If such an organization existed, FTX, the exchange that looks after the main backstage, would not have gone bankrupt.
Desire and ability are not equal
The heart can never be at peace
How can you hold on to the coins if you are not calm inside?
Many people always like to rely on other people's promises and guarantees to hold on to their coins when the market crashes.
Banks are going bankrupt. Even some big countries’ fiat currencies are going bankrupt. Evergrande and Zhongzhi Group are bankrupt with tens of trillions of dollars.
Do you think people who promise returns can be trusted in such a high-risk place like the crypto industry?
The charlatan is just talking nonsense. As for the real crash and bear market, have you ever seen those people who advocate the bull market every day?
