In one sentence, Treasury Secretary Yellen once again terrified the panicked U.S. stocks. He said: Although the stock market has suffered sell-off pressure, some asset valuations are still high. As the U.S. stock market plummeted again, hitting a new low for the year, the crypto market was swept away, creating this wave of decline. During the decline, the stable UST fell off its anchor once again, hitting a minimum of $0.6 in the morning, almost halving, and then Luna The foundation responded quickly, smashed 70,736 bitcoins in 2 transactions, and dragged out the reserves to protect the prices of UST and LUNA. This is one of the important driving forces for the sharp decline of bitcoin in the morning. Another part of the force is The contract market has liquidated $920 million, and this part of the funds has also become the fuel for the decline. At this point, this round of panic should have come to an end. Binance’s trading volume in the past 24H has been 4 times the usual level, which is a day-to-day volume, so even at night U.S. stocks hit again, and the decline in the crypto market has come to an end. Whether or not around 30,000 can be the bottom of this year, these two days will give us an answer.
I want to say more about UST. His Bitcoin and Ethereum reserves are all exhausted, and he wants to return to the stability of 1 US dollar later. First, he can rely on the primary market to exchange LUNA worth 1 US dollar, and second, he can use some institutions. Capital increase or loan will help UST to tide over the difficulties, so theoretically, if UST wants to return to 1 dollar in the short term, LUNA will continue to be smashed by arbitrageurs. The arbitrage behavior of arbitrageurs after buying UST, that is, buying UST in exchange for LUNA worth 1 USD, and then selling LUNA, so as long as UST does not return to 1 USD, theoretically LUNA has no rising logic. In addition, the ANC pool will no longer be trusted, so the amount of locked positions will fall in the future, and the price of ANC will be difficult to stabilize.
This wave of Bitcoin crash caused 43 institutions to lose tens of billions of dollars, including Microstrategy, Tesla and Meitu. The CEO said that although the cryptocurrency lost $111 million in the first quarter, he still believes that the rebound will not happen within 2 months, but firmly believes that the cryptocurrency will be adopted by institutions and will rise in the future. In addition, TRON once again spent 15 million US dollars to buy 500 bitcoins, and the President of El Salvador also bought 500 bitcoins at 30744. Believers are still buying, and the selling pressure will come abruptly at some point. stop, and demand begins to intervene continuously.
Sister Mutou believes that when more and more people start to surrender and think it is a bear market, the bear market of cryptocurrency will soon end. She maintains a long-term bullish view on the cryptocurrency market, and these emerging industries will grow in 7-8 years21 times. Sister Mutou has a very sharp eye, and she is considered a big-shot figure in an emerging industry investment institution, and her cognition is trustworthy.
Youtube CEO said that banning Bankless account is wrong, will participate in his offline WEB3 and NFT discussions, and hope to see more cryptocurrency content on Youtube. This is really a good sign that such a super video platform embraces cryptocurrency, and the future communication power will grow exponentially.
The GST Board of India considered a 28% tax on Bitcoin, and India has finally killed Bitcoin through policy, and the brain drain will become a major pain point for India.
Venezuela is considering a 3% tax on foreign currency and cryptocurrency payments. This wave of Fed tightening will make these countries with fierce inflation very painful. In order to prevent foreign exchange from collapsing, foreign exchange will be banned in various ways. Taxation is ideal Way.
Data from Coinshares shows that last week, the net investment of 40 million U.S. dollars in cryptocurrency investment products has gradually shifted from outflow to inflow, indicating that institutional investors are paying attention to and participating in the crypto market again, which may become a signal of a staged bottom.
Panic 10, has entered the extreme opportunity zone.
Bitcoin: The inflow of Bitcoin exchanges hit a new high in nearly 3 months, and the 7-day average volume reached 1,729. At the same time, the number of addresses with 0.01 pie reached nearly 9.99 million, a record high, and more and more people surrendered to the market. Long, which belongs to the bottom signal, the madman completed the buying according to the plan near 30,000, waiting for the flowers to bloom.
ETH: In the past two weeks, 330,000 ETHs have flowed into the exchange. Like the logic of Bitcoin, they are all surrendering, but from today’s trend, it is obvious that the decline has been weak, and the most difficult days are over.
COMP: Received a “B-” rating from Standard & Poor’s, becoming the first Defi product to be rated by a traditional agency. This rating will bring him a lot of buying. After the rating is endorsed, there will be capital products that meet the rating standards to buy. , which is a medium- and long-term positive.
TRX: The Wave Fed bought 595 million TRON and spent more than 45 million. Regardless of whether the Wave Fed is centralized or not, at least short-term solid purchases will not be easily sold. After all, everyone is staring at his address. , so there is a chance to continue to be strong in the short term. As for whether it will be cut in the future, that is not the scope of consideration now.
Buying according to plan, historically, the probability of making mistakes is smaller, because the greed and fear of human nature are isolated.
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