Epic crash!
The hype about the US recession and the escalating unrest in the Middle East have combined to create a negative impact on global finance, with assets such as gold, crude oil, silver, and Bitcoin being sold off indiscriminately.
After a few days of continuous decline, the crypto market ushered in a big waterfall at 9:00 am Beijing time on Monday! Bitcoin fell below $52,300 and Ethereum fell below $2,110, and the market ushered in a bloodbath and a comprehensive plunge.
Super liquidation!
In the last 24 hours, a total of 193,364 people were liquidated, with a total liquidation amount of $724 million.
The largest single liquidation order occurred on Huobi - BTC-USD worth $27.001 million
This plunge is different from the past. There is no rebound at all during the process, which gives people a feeling of extreme despair and even no bottom. I don’t recommend you to aggressively open more or buy on the left side, but wait for the right side to confirm stabilization, such as the three-day line closing at $56,000 or other bottom support of $50,000-52,000 or even $46,000. Because this wave of decline is a bit out of technical terms, it means panic selling, so it is safest to wait for confirmation of stabilization before entering the market.
In the short term, there is definitely a need for a rebound. Any further decline is just an emotional catharsis. Those who have money should continue to buy the stocks they like. Those who don't have money should control their hands and never let their emotions drive them to sell at a loss. No matter how panicked you are, you should at least wait for a rebound before selling.
Is the bull still there? Is it a big washout or is the bear coming?
All the crashes in the crypto market caused by external negative factors are actually opportunities. 94, 519, 312, this round of callbacks has been recorded in the history of cryptocurrencies.
In another half a month, it will be 4 months of adjustment time. The worst adjustment period in the bull market is only 3 months. It has now exceeded the adjustment time of 519. That is, if you still believe in the bull market, then this is the bottom area.
Even if it is not a bull market, now is a new round of bear market. The bear market usually bottoms out after 7 months of decline. According to the bear market thinking, it will fall to October or November at most, and then the market will start. Let's survive first, at least there is hope for the future.
In fact, there is a big wash-out before each bull market begins . What I want to say is "this is normal." Players who have experienced the previous bull markets should all know that whenever the Federal Reserve is about to enter a rate cut cycle, the financial market, that is, the crypto market, will be affected. The closer to the rate cut, the greater and more intense the market reaction will be. This is actually a very good signal because it means that the bull market is getting closer and closer to us. I firmly believe that the bull market is still there. I know it's hard, and so am I, but since you have chosen cryptocurrency, you must hold on to it. Let's meet at the top together and don't give up halfway!
This year's market has been rising when it is rising and falling when it is falling . It is suitable for spot speculation and not suitable for fixed-term investment. Therefore, the best investment strategy for spot is to use 50% of the funds for long-term investment and 50% for speculation.
In the past two days, cryptocurrencies have plummeted, altcoins have pulled back sharply, and the market is wailing, but looking at the chain, whale are increasing their holdings of these coins!
-$TON
The price of Telegram-backed Toncoin (TON) has fallen by 17%+ in the past month. But on-chain data shows that this is a good buying opportunity. ON's market value to realized value (MVRV) ratio readings show that the Altcoin is currently undervalued, issuing a new buy signal, and whales have noticed this.
The coin has a negative MVRV ratio on different moving averages. Its MVRV ratios for the 30-day and 90-day moving averages are -6.39% and -6.87%, respectively.
A negative indicator means that the current market value is lower than the price at which most investors acquire their assets, which is a good time to enter the market. In addition, the number of whale has increased by 2% in the past month, and the number of holding addresses has continued to set new highs!
- $TRX
IntoTheBlock's on-chain data shows that the net flow of TRX major holders has increased significantly by 243% in the past 30 days. It should be noted that major holders refer to coins that hold more than 0.1% of the total circulation. The increase in net flow indicates that whale are continuing to increase their positions, which is an obvious bullish signal.
- $BNB
BNB’s Chaikin Money Flow (CMF) has been on an upward trend during this period. This indicator measures the funds flowing into and out of the asset market. As of yesterday, BNB’s CMF was 0.24. The sideways movement of prices when the CMF rises indicates a possible bullish divergence.
This indicates that more and more funds are pouring into the asset, which is usually a sign of larger investors increasing their holdings. In addition, it has been quite a while since the new project was launched, and it is estimated that it will be launched soon, which will be a wave of positive news, so you can look forward to it.
These three coins are the feedback of on-chain data under the background of the recent sharp drop. The spot is relatively stable, and the sharp drop is also a good time to build a position. Those who are interested can refer to it and wait for the blessing. Lao Chen wishes everyone to get rich soon!
If you still have any questions and want to ask me, please add me on V:mcty577
