Crypto markets continue to weaken!

The US stock market opened lower and moved higher on Friday, but this time there was no linkage in the currency circle. It went down and fluctuated on its own. This lasted until the weekend. As soon as the U.S. stock market closed, the market basically continued to fluctuate. Therefore, I don’t expect much from this weekend’s opportunities. Even if there is a sudden pull-up trend, there is a high probability that it will be a trap icon for the bulls, because the Air Force is too strong at the moment, and the bulls still have no power to fight back.

At present, almost all core technology stocks in the U.S. stock market have begun to go down. This is also the market’s expectation that the Fed will not loosen money after the icon, and it is also an expectation of the U.S. economic recession. With the superposition of these two factors, the most injured are the technology stocks. Risk assets, Bitcoin is certainly one of them. Judging from CME data, there is a certain negative premium, indicating that institutional bearish sentiment has emerged, which is not a very good signal. At the same time, the market value of USDC, which represents U.S. dollar assets, continues to decrease, which is also one of the signals for the outflow of U.S. dollar assets.

For Bitcoin, the short-term decline is actually quite large, and the 4h level has also shown an accelerating downward trend. In this case, if it continues to hit a new low over the weekend, then 27,000 will be a short-term icon for long icon opportunities. Although the trend of the callback icon is unlikely to change, there will at least be a certain rebound after the new low, and 26,500 itself is also a strong support level in the near future. The probability of a direct break is very small. At the same time, the U.S. stock market has not opened, and it is purely a game on the field, and it is difficult to get out of the unilateral downward trend.

The emergence of risk aversion has put ETHicon in an awkward position again. Ethereum's big players have short-term selling behavior, while retail investors are mainly buying. For Bitcoin, it is the opposite situation. Therefore, in the future market, as panic spreads, Ethereum may not be easy to outperform Bitcoin. Of course, this is what we see in the short term.

Small coins are almost all in trouble, and the hot coins in the early stage have fallen particularly sharply. This is why I have been emphasizing recently that you can buy on highs, but don’t buy on dips. It is difficult to untie the locked-in icons of these coins. If you have any positions, it is recommended to consider continuing to stop loss on the icons, and continue to hold on to other coins that have not moved much. Anyway, the decline will not be too much🌹🌹🌹🌹🌹#BTC #crypto2023 #ETH #Binance #Web3