Bitcoin rebounded as expected. Is the spring of altcoins coming? The local dogs are ready to move.
The on-chain data is stirring up trouble again. Is the Ethereum whale going long or short this time? Let’s follow Shuqin to find out.
According to multiple media reports, BlackRock, a pillar of Wall Street and the world's largest asset management company, recently increased its holdings by another 12,000 bitcoins, shocking the capital market and triggering wild speculation in the community.
Such a large-scale entry marks a major shift in the company's investment strategy, and Web3 will become an important part of its global investment portfolio.
Even though BlackRock has not yet responded to the current news, everyone knows that on-chain data is open and transparent, so even if it is not BlackRock that is bottom-fishing this time, it will be other institutions, and there is no essential difference.
What's more, this Wall Street giant has applied for a Bitcoin spot ETF in conjunction with other institutions since mid-year, and has released positive news to protect the market when the market has fallen many times. All of this shows that big investors have really entered the market.
In fact, all institutions do this. They secretly buy at the bottom when retail investors are most desperate, and then start releasing all kinds of good news to pull up the market, letting retail investors chase high prices, and they can complete rounds of harvesting without bloodshed.
In fact, it’s not just BlackRock. Another American institution also recently announced its entry.
Blockchain Capital, headquartered in San Francisco, has now announced that they have completed the preparations for the first Web3 fund, and even one of the major investors is the well-known international payment giant Visa.
Currently, the fund has completed a financing plan of US$580 million and has the intention to expand further, so I tell you, institutions are more Fomo than you, because it is only three months away from next year, and everyone is actively preparing for the bull market.
This VC is very famous. It had established such a fund during the bear market in 2019. At that time, Paypal and Visa, two payment giants on the Nasdaq and NYSE, participated. Then they disbanded and left the market at the peak of the bull market in 2021. It can be said that they made a lot of money.
Now they are doing the same thing again and setting up a new ETF.
So you see, even the institutions are so Fomo, so I don’t need to say much about what to do next.
Shuqin had asked everyone to buy the bottom when the price was 25,000. I said that wave B would not end in one day, it would at least last for several weeks, so it came up again this time.
The ideal situation is that Bitcoin will test the previous high resistance of 28,000 again. This place was also a dense trading area before.
When the time comes, I will choose to take profits on the coins that I bought at the bottom before, and then arrange some short orders based on the chain. Because in the complete Elliott model, there will be a C wave decline after the B wave rebound, so the probability of its formation is very high. This is also the last chance for everyone to get on board before the bull market next year.
Let's talk about the current B wave rebound. When the market fell before, it was retail investors who scared themselves. Instead of buying the bottom, they sold their stocks at the lowest point. When the market fell to 25,000, a lot of people said it would go to 21,000 or even 18,000. So he couldn't see the bottom of 25,000 for a month.
It was the same thing last year when Bitcoin was at $15,000. At that time, I encouraged everyone to buy at the bottom, but a bunch of retail investors thought the market would fall to $12,000 or even $8,000, and no one dared to buy at the bottom.
Now that the price has gone up, some people immediately asked me if they could buy at a higher price. Ah, I said I bought at 25,000 yuan, but you didn't buy at a low price then, but you bought now. This buying at a higher price is really being cut by the banker.
In fact, the room for Bitcoin's rebound is gradually getting smaller, so when there is a pullback in the future, I will try to buy some altcoins at the bottom, because these coins have not reacted yet and there is still room for growth.
OP, IMX and even Matic are all good. They all belong to the Layer 2 concept and will form a certain linkage with the subsequent Cancun upgrade.
In fact, there is nothing else Shuqin does. It is that others are afraid of my greed, so I buy at the bottom when you dare not enter the market. After a while, you are all greedy, and I will be afraid instead. At that time, I will clear all my positions. So now, let the retail investors Fomo for a while, okay? Those of us who have already entered the market should wait patiently for a callback before adding positions.
For example, Shuqin's orders this month have unknowingly ranked among the top few in the exchange, which is a recognition of her strength.
Whether we are long Bitcoin or short ID, there is no problem at all. Those who are interested in the operation can really consider joining a group. How many people have missed such a big market, and some have even been liquidated. I really don’t know how many opportunities you have to miss before you realize that there is a shortcut to success.
Okay, let’s look at a few more sets of key data.
The first is the daily net inflow and outflow trend chart of Ethereum across all exchanges.
Now you can see that it is indeed in a buying range, and many big investors are buying at the bottom. But the problem is that the momentum is not strong, and even with the rebound of the coin price in the past few days, the buying volume has begun to shrink, which is not a particularly positive signal.
If you want to know about this kind of strength, you can refer to the bottom-fishing in the same period of August last year. It was the same. After the rise, it started to fall again, and the decline was not small.
This actually matches the anxious mood of big investors now, because in the short term their willingness to buy at the bottom is not very strong. This is mainly because of what we said before, that the market may experience a larger C wave decline after the B wave rebound.
As you can see, the trading volume is very weak recently, so the current rise is shrinking, which is all false. So the bull market has not come yet, and now it is just the halftime break of the bear market.
However, in the long run, institutions are full of confidence in the trend of this bull market.
The picture shows the backtest of each round of Bitcoin bull market by the trillion-dollar Wall Street giant Vanda. For example, in the 21st round, Bitcoin rose nearly 20 times, and his outlook for this round of bull market is 10 times, from the bottom of 15,000 last year to 150,000 in the bull market. This is already very outstanding without adding any leverage.
Some small projects will definitely be even crazier in the bull market. For example, in the last bull market, there were many coins that increased by 1,000 times or even 10,000 times. Now there are only the last few months before the bull market starts. If you didn’t catch up with the previous bull market, you must catch it this time!
How many four years can we have in our life? Don’t leave any regrets for yourself!
Okay, that’s all for today’s program. Please subscribe. You can also visit my channel when you have time. See you every Monday, Wednesday, and Friday!