01丨Emotion Index
The current market sentiment index is 25. In the past week, the market sentiment has been relatively stable during the day, and after a period of rising values, it fell back and consolidated. As of today, the market has started a round of general rebound, and the long-term outlook is still bullish.
02丨Events of the Week
In the past week, there were two major events related to Huobi: one was an incident caused by an internal labor dispute, which was caused by the reform of the employee salary system, which caused dissatisfaction among the original employees; the other was the new compliant trading platform established by the original founder of Huobi, which attracted frequent attention from the market; based on these events, Huobi's daily capital outflow exceeded US$60 million, causing risk aversion in the market and users.
After Singapore announced its plan to regain its crypto hub in Hong Kong, there have been signs of tightening its crypto policy. These signs have aroused collective opposition from crypto enthusiasts in Singapore, which may boost the development of Web3 in Hong Kong.
The release of last week's non-agricultural data boosted the market's rise during the week. The market trend in the past week showed a general rise. As of now, the market is still in a positive range;
Finally, what is worth paying attention to is the development progress of Ethereum. Keeping an eye on the progress of Ethereum upgrades will help you grasp the volatile market conditions affected by the events.
03丨Industry Data
- Change in total market value
The market trend of the past week was the result of an upward trend after the previous week's decline and consolidation. BTC's market share briefly reached 40% during the week. The total market value has broken through the low point of 800 billion US dollars in the past half month. Until now, the total market value has reached a maximum of 850 billion US dollars, an overall increase of more than 6%.
-Contract long-short ratio
The above figure is a comparison of the long and short forces in the contract market for one week. A value greater than 1 indicates that the long side is dominant, and a value less than 1 indicates that the short side is dominant. This value only represents my personal opinion that the long and short game in the contract market reflects the immediate result of the market's processing of long and short news to a certain extent.
According to the average calculation of the values, the overall bullish power of BTCÐ has been stronger in the past week, especially for ETH, which has a better bullish ratio than the previous quarter due to the promotion of upgrade news.
-Deifi data changes
Driven by market conditions, Defi's pledge volume and token market value have increased in the past week, but have not returned to the level before the FTX incident. The market's confidence in Defi cannot be restored in the short term.
04丨Market Analysis
In the short term, BTCÐ continues to be bullish, and the view remains unchanged. ETH's daily K-line has reached a key resistance position, and it is necessary to keep an eye on this position. Once it breaks through, the upward trend will continue until the next resistance position near 1515. BTC's upward momentum is not very strong, but it is still in an upward trend. It has not yet reached the maximum resistance position of the stage, and there is still room for operation.
