Big crisis! After the confirmation of the interest rate suspension, the data exploded. The market shorts outnumbered the longs. A huge amount of funds entered the market. Bitcoin was so pulled up that the Ethereum exchange rate began to bottom out and was about to rebound. The copycat market was about to begin.

黄焖鸡分析 · 2023-11-02T02:48:51.000Z

Let’s get straight to the point at the beginning. Bitcoin is trading like crazy, but from the perspective of the exchange rate pair between Ethereum and Bitcoin, Ethereum has been in an extremely undervalued position for a long time. Looking at the daily line, the exchange rate pair between Ethereum and Bitcoin is starting now. It is about to strengthen. If it returns to the average range of 0.06 of the exchange rate pair, where can Ethereum return to? We calculate based on the exchange rate pair of Ethereum and Bitcoin. If it returns to the 0.06 position, the price of Ethereum at this time should return to around 2,200 dollars, which is undervalued at this time. So let’s see that Bitcoin’s strength at this time is due to the entry of large funds to pull the market, so it is not suitable for Bitcoin to chase higher now, but Ethereum and a number of altcoins are slowly starting to make up for the gains.

Let me get to the point right at the beginning. Bitcoin has been rising like crazy, but judging from the exchange rate pair of Ethereum and Bitcoin, Ethereum has been in an extremely undervalued position for a long time. Judging from the daily chart, the exchange rate pair of Ethereum and Bitcoin is now starting to strengthen. If it returns to the mean range of the exchange rate pair around 0.06, to which position can Ethereum return?
We calculated based on the exchange rate between Ethereum and Bitcoin. If it returns to the 0.06 position, the price of Ethereum should return to around $2,200, which is an undervalued level.
Then we see that the strength of Bitcoin at this time is because big funds are entering the market to push up the price. So now it is not suitable to chase high prices for Bitcoin, but Ethereum and a number of altcoins are slowly starting to make up for the losses.
As a big nanny, Ethereum will take off with the altcoins, and this time point will come out soon. We always pay attention to the current exchange rate of Ethereum. At this time, Ethereum and a number of altcoins will have a good wave of compensatory rise.
     
Many people outside continue to be bearish and think that the price will go back to 28,000. Judging from option trading and on-chain data, the number of short positions is far greater than that of long positions.
Now we need to pay attention to whether the contract market will be affected in the short term. After a certain amount of air force accumulates, the dealer will choose to explode these chips. As an air force, we must pay attention to certain risks.
Furthermore, those who think that the price is still 28,000 Bitcoin should pay attention. At this time, Bitcoin has stepped up one by one, and we can see from the on-chain data that the capital inflow is not a test, nor is it to blow up the contract, but real funds are entering the market to pull up the price.
Those who want this wave of decline to continue may be disappointed, because institutions will not buy at the bottom. Institutions only follow the trend. As long as the bottom is confirmed, institutions will double their investment.
Now a huge amount of funds are entering the market, and the bottom is being raised step by step. From a cyclical point of view, it will take until December for this trend to end, so those who are interested in a big correction should pay attention to the risks.
 
After the confirmation of the interest rate halt last night, the fear and greed sentiment index exploded directly, hitting the sell signal many times in the near future, and the extreme panic index appeared. At this time, the sentiment indicator has also begun to fail temporarily.
As for the macro news, we confirmed the news of interest rate cut in November in September. At the same time, as expected, Master Bao continued to manage market expectations. Let's take a look at the market expectations for the December rate hike. There is about a 75% probability that the interest rate will continue to be cut. So let's just say the conclusion is that the Fed will not raise interest rates anymore in the future.
What really makes people panic is the Fed's balance sheet reduction policy, which has been in a selling state. Although it can be confirmed that the bear market of Bitcoin is over, as long as the Fed continues to be in a balance sheet reduction state, as long as the balance sheet reduction does not stop and quantitative easing is not started, then the crazy bull market will not come, so brothers must pay attention.
At this time, we all have bottom chips. We hold on to them to take advantage of a wave of gains and then wait for a correction to start. When the interest rate cut is announced, it will be the beginning of the last big drop in the bull market, because traditional funds will rush into the market frantically, causing huge fluctuations in the market.
Now congratulations to the brothers in the car, the bear market is over. #BTC $BTC 