#2024-07-17
Shilian Niubite (niubite.com) shared that when Mt.Gox started to move its wallet yesterday, the market panicked for a while, but then it returned to normal and continued to pull up the market. The creditor compensation was different from the German government's sale. The creditors of Mt.Gox were not forced to sell, so this was not pure seller liquidity. Although creditors will have a certain amount of selling pressure after receiving the coins because their costs are very low, this will not cause the market to turn from rising to falling. The objects of the macro-level undertaking have changed. The passage of the Bitcoin ETF will completely drive more institutions to undertake this kind of selling. If there is panic selling, there will be more undertakings. The most important thing is that creditors will not reach a unified consensus like the German government, and I think there will be many long-term holders.
VanEck will provide French pension plans with exposure to Bitcoin, marking the first time French pension plan investors have gained exposure to digital assets.
The US SEC has told asset management companies that the spot Ethereum ETF may be launched on July 23
Markets are always born in despair, grow in half-belief, mature in longing, and perish in hope. -- John Templeton (Father of Global Investment)
The content of this article is intended to provide readers with concise market analysis and investment advice, not direct operational guidance. Investment is risky, so be cautious when entering the market.
(The following sharing is for reference only and does not constitute investment advice)
BTC
BTC: Yesterday, Bitcoin closed with a small positive line with a long lower shadow. The short-term performance of Bitcoin is still very strong. As I said yesterday, generally, the power of the rebound will be strengthened after this kind of false breakthrough is withdrawn (this has been shown in the past few days). Yesterday, there were some negative voices in the market (Mentougou wallet Bitcoin flow), which were basically digested by the market after the affected adjustment points. At present, the upper pressure is only 71,000. There is no problem in hitting 71,000 in the short term, but it depends on the way it is done. Either it will rush to it directly according to the rhythm of the past few days, or it will be carried out in an oscillating upward manner. Looking at the one-hour chart, the price deviation rate from the 200-hour moving average is a bit large, suggesting that the short-term bullish force is still strong. I guess it is likely to arrive at a strong upward rhythm (this is just a guess, just for reference). In the end, no matter what way the sprint is used, just buy on dips. If adjustments are made, just pay attention to 63,500 and 62,500. What needs attention is that the pressure of 71000 is still very important. Although we said yesterday that it is very likely to break through 71000 this time, it is not a direct breakthrough. It should still grind for a few days after reaching it. It is suggested to reduce the position when it reaches around 71000 (of course, you don’t need to worry about the spot for a long time), and then add it back when it goes down (we will talk about the position when it reaches).
ETH
ETH: Ethereum's performance yesterday was not as strong as Bitcoin, but it does not affect the continued target of 3800. Similarly, there is no pressure above the short-term, and there is pressure at 3800. For the upward method, please refer to the above analysis of Bitcoin. If you adjust, just pay attention to the support of 3380 and 3330 below. However, I think it should not reach these support levels in the short term. Anyway, just keep holding on to what you have. You can reduce your position when it reaches around 3800. You don’t have to sell all of it. Just reduce your position, and then make up for it when it goes down (we’ll talk about it when that position is made up).
Also continue to pay attention to the exchange rate (the exchange rate has been grinding for a long time, but this is how the market is, and it takes a long enough time to grind when an important turning point occurs).
Altcoins
STX: Stacks is a Bitcoin L2 that brings smart contract capabilities to Bitcoin without modifying Bitcoin itself. Stacks takes a pyramid approach, with a base settlement layer at the bottom (Bitcoin), then adding smart contracts and programmability layers on top of it (Stacks), and then layers on top of that for scalability and speed (Hiro’s subnets)
The market value is 3.5 billion dollars, the circulation volume is 1.465 billion, and the total supply is 1.818 billion.
STX: It has performed strongly in the past two days and continues to pay attention to the 2.3 pressure. However, as Bitcoin continues to rise, STX will usher in a small spring, and previous long positions will continue to be held.
Notcoin: is a game based on Telegram, where users can earn in-game tokens by clicking on coin images. Released as a Telegram applet in January this year, it attracted more than 35 million users in just 3 months, with daily active users reaching 6 million. Notcoin is the first project to be listed on all major exchanges at the same time. In the next four years, the team will build a series of effective and automated subsystems within the Notcoin ecosystem, including competitions, influencer cooperation, and governance processes. The goal is to have these subsystems work seamlessly together to create and attract value within the ecosystem. The total supply of tokens is 102.49 billion, and the circulating supply is 102.49 billion, which is fully circulated.
NOT: It rebounded in the past two days with support at 00145, but yesterday's rebound failed to break through the small pressure of 00176. Pay attention to this small pressure in the next two days. If it breaks through, look at 0023. Continue to hold the positions built before.
ARKM: Arkham is a blockchain analysis and intelligence platform that provides information about real-world entities and individuals behind cryptocurrency market activities. Arkham has built a tool that allows users to search, filter, and sort any crypto transaction by value, token, time, and counterparty. Arkham has received more than $12 million in financing. It is a tool token and also an AI track. The total supply of tokens is 1.0 billion, and the circulating supply is 204.6 million.
ARKM: The AI track is in a cooling-off period, so AKA is also affected. However, we continue to be optimistic about the AI track in the future, and AKA will also perform well. There is a need for further rebound in the short term, but the momentum is not strong. Pay attention to the pressure of 2.0.
Celestia is the first “modular blockchain”, previously known as “LazyLedger”, and is an infrastructure specializing in “data availability (DA)”.
Modularity is the key to solving the blockchain trilemma, and will bring a secure, scalable, and decentralized multi-chain future. Celestia adopts a modular architecture, deconstructing the blockchain into data, consensus, and execution, and empowering developers with limited budgets to easily deploy their own blockchains with a streamlined, modular consensus layer. The total supply of tokens is 1.055 billion, and the circulating supply is 196 million.
TIA: The transaction at the price of 6.0 was completed. For TIA, this is a good entry point in the near future. The transaction was completed and held. TIA is still in the process of consolidation in the short term. In the short term, continue to pay attention to the pressure of 7.5. If it breaks through, look at 9.5.
