Madman said

I saw people asking me why I don't reply to messages in the comments section. Actually, it's nothing. It's mainly because I feel exhausted physically and mentally. I've long been accustomed to the months-long online violence. I've been writing articles for almost 6 years and have seen all kinds of experiences. Now this little storm will not have much impact on me. As for the judgment of the market, I admit that my analysis is biased, but the content of the article has always been my own trading strategy, so the value of my allocated assets is also shrinking. It's not that I just talk to you every day and make irresponsible remarks. So for many messages, I feel funny. Secondly, the time difference in the area where I live is large. I basically stay up late to work every day. I reply to messages at three or four o'clock. I sleep 3-4 hours a day. I can't stand the continuous fighting. Third, the market is half dead and dead. I know that the decline is not deep, but it keeps disgusting. Various thunders come one after another. My own position has not changed. Some of the contracts opened near 16,000 have been held, so I don't want some panic remarks to destroy my judgment. These are probably the reasons. My persistence is not for those who have no faith, so their opinions are not important to me at all. Losing money is probably the ultimate fate of fence-sitters. As long as the people on this big ship persist, spring will eventually come. It is enough for everyone to have a common belief on this point.

Core Scientific, a listed Bitcoin mining company, holds $32.2 million in cash and expects its cash flow to be exhausted by the end of 2022, facing the risk of bankruptcy. In the case of continuous losses in mining, some companies that purchase mining machines through refinancing will face insolvency. At the bottom of each round of the market, a large number of miners often surrender, which is a normal market behavior.

Binance US has entered the U.S. political arena by establishing a political action committee. With the fall of FTX, Binance has taken over FTX's government activities, which is particularly important for survival in the United States. We hope that Binance will succeed and guide the United States to make more correct regulatory decisions, bringing new hope and expectations to encryption.

Reuters said that there are buyers interested in FTX assets who are willing to participate in the process of restructuring or selling these assets. It is not known who the potential buyers are, but there is no doubt that the restructuring will eventually be carried out at a significant discount, so it is still difficult to guarantee the full redemption of user assets.

The Governor of New York State has signed a two-year crypto mining moratorium bill. With the collapse of FTX and the decline of Bitcoin, the policy on Bitcoin has also deteriorated to a certain extent. There is almost bad news all over the United States, but we can see that the market is no longer falling because of this. This is a signal of short-term recovery and reversal.

Last Friday, Bitcoin's single-day loss reached -1.9 billion US dollars, ranking fourth in history. This means that a large number of chips surrendered last Friday. This indicator is often also a bottoming signal for the end of a short-term correction. We have reason to believe that the stage bottom of this round has been formed again.

Panic 22, not much has changed.

Bitcoin: The bottom of the 4h chart has been formed, and this rebound has not yet been completed, so continue to hold.

Ethereum: Yesterday, whale addresses holding 10,000 to 1 million Ethereum increased their holdings by 948,000 Ethereum, making it the fifth largest ETH increase day in the past year. Smart money began to flow in significantly, laying the foundation for the right side of the market to rise.

LTC: In the past two weeks, Litecoin whales have accumulated more than 40 million US dollars of Litecoin. This wave is still expected to be the halving market next year. The recent trend is obviously stronger than other mainstreams. The upper pressure is around 100 US dollars, and there is no pressure below 100.

CRV: Yesterday, a whale borrowed CRV through AAVE to charge OK Exchange and then frantically dumped the market to short sell. He saw that the decline of CRV had the opportunity to trigger a chain of liquidations, but he ended up losing more than he gained. The other party made up the margin of CRV to avoid liquidation. After the longs counterattacked, all the collateral of this whale was completely liquidated, causing a super reversal. This huge rebound basically saw the bottom reversal signal, and it can continue to be held.

DYDX: Chain has released an internal testnet, which covers functions such as leverage fee settlement. In the future, there will be new imagination in using its own chain. Especially when CEX is not trusted, the future expectations of DEX will be higher.

SHIB: The whales in the top 100 of Ethereum are selling SHIB. The logic of selling at this position is not clear. It may be for changing positions. After all, the direct beneficiary of Musk's acquisition of Twitter is Dog, not Shib, which seems to be a little insufficient in expectations.

ANKR: Became one of the first RPC providers for SUI. He made a lot of money after the last APT went online. Now that small coins are all rising, he is expected to be hyped again in the short term.

BNB: After the new LAUNCHPAD was launched, a wave of explosive pull followed. It is no accident that Binance chose this time to launch. It was because it saw the opportunity of continued recovery in the market that it made this move. The referee clearly told you that it will rise, which is worthy of trust. However, BNB has not been down from the last 398 plunge for a long time, and it is difficult to reverse the trend. During this period, it will mainly digest the locked-in positions above 300.

Market sentiment suddenly exploded, which is also the release of long-suppressed bulls. It has a certain sustainability. Seize this opportunity. I will not reply to messages this week, and will try to resume next week.