Woke up this morning and checked the market.
BTC is back below $75,000.
Yesterday's close: $74,585.
The 365-day moving average at $76,490 has officially given way.
This line only breaks once a year.
The last time was… never mind, let's not dig up the past.
What really concerns me is ETH.
This drop has hit much harder than BTC.
It touched a low of $2,060 early Monday.
Exchanges saw net inflows of nearly 30,000 ETH over 7 days.
Meanwhile, BTC actually saw net outflows of 4,655 on November 7.
One is moving in, the other moving out.
Put simply, someone is sending ETH to exchanges,
getting ready to sell.
More BTC, on the other hand, is being withdrawn.
$803 million liquidated in 4 hours.
Mostly longs.
The Fear & Greed Index is at 29, still in fear territory.
CPI comes out tomorrow.
At this point, I'm not guessing which way things will go.
I'm watching just two things:
Can BTC reclaim the 365-day moving average?
When will ETH exchange inflows stop?
Are you still holding your ETH,
or have you already gotten out?
$BTC $ETH #市场观察 #以太坊 #On-chain data
This is not investment advice. DYOR. Trading involves risk.
BTC is back below $75,000.
Yesterday's close: $74,585.
The 365-day moving average at $76,490 has officially given way.
This line only breaks once a year.
The last time was… never mind, let's not dig up the past.
What really concerns me is ETH.
This drop has hit much harder than BTC.
It touched a low of $2,060 early Monday.
Exchanges saw net inflows of nearly 30,000 ETH over 7 days.
Meanwhile, BTC actually saw net outflows of 4,655 on November 7.
One is moving in, the other moving out.
Put simply, someone is sending ETH to exchanges,
getting ready to sell.
More BTC, on the other hand, is being withdrawn.
$803 million liquidated in 4 hours.
Mostly longs.
The Fear & Greed Index is at 29, still in fear territory.
CPI comes out tomorrow.
At this point, I'm not guessing which way things will go.
I'm watching just two things:
Can BTC reclaim the 365-day moving average?
When will ETH exchange inflows stop?
Are you still holding your ETH,
or have you already gotten out?
$BTC $ETH #市场观察 #以太坊 #On-chain data
This is not investment advice. DYOR. Trading involves risk.