Today's market analysis

BTC started to plunge after hitting the 70,100 pressure level on Monday, and the lowest reached the 66,000 integer mark. This wave of decline was also expected. At present, BTC is still weakening. There is no need to consider buying the bottom of the spot in the short term, because it has not yet reached the right position. Tonight's CPI data is likely to be bearish for the market. The Federal Reserve has worked hard to make the non-agricultural data so perfect. The short-term data will not go against the trend, including the interest rate meeting in the early morning. The expectation of interest rate cuts in the updated dot plot has been lowered again.

Pressure and support

BTC pressure level 68500B support level 66000

ETH pressure level 3580 support level 3450

Spot sector analysis and recommendation

IO, which was launched on Binance yesterday, is currently hot in the market, but the current position is not suitable for entry. The selling pressure has not been eliminated yet. Hot currencies will normally choose to weaken after listing, wash the market and absorb funds. This situation will take at least a week to react. Of course, there are occasional exceptions, such as the previous ETHFI, but low-probability events are not referenced. IO can first join the self-selection and wait for 2 or so, and then choose to ambush and enter the market.

Spot recommendation

For long-term, you can arrange a small position to enter the second-layer staking sector tokens, and LDO and SSV are the first choice

Recommendation reason

LDO is currently the leader of Ethereum staking. Although the centralization problem exists, V God has also publicly stated that the next major upgrade of Ethereum will make adjustments around the centralized staking problem, but it is difficult to affect the leading position in the short term. The most critical thing is that LDO is currently divided into two sets of plans for the centralization problem.

① Selected the decentralized staking service provider SSV to cooperate in the development of DVT distributed staking technology.

② The project party is also developing its own on-chain non-custodial staking. The progress of both is currently acceptable.

SSV is the most stable and has the most partners in the decentralized staking service track in the market.