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The market trend last night was also within our expectations, successfully breaking through a historical high, and the on chain data further verified that even if the price rises, the BTC stock on the exchange continues to decline, indicating that investors do not have the intention to sell, but choose to hold or cold deposit, which is structurally stronger than the previous cycle. On the other hand, long-term holders who have held positions for more than a year are still continuing to distribute, but there has not been a convergence or replenishment signal, indicating that the top has not yet fully formed. From a historical perspective, this may be in the construction phase of the second peak in the fifth distribution cycle, and if there are no sudden macro or political bearish factors, BTC still has further upward potential.
Data from the past 12 hours shows that the main buyers had a large transaction volume of 509 million yuan and a net inflow of 47.13 million yuan, with a buy to sell ratio of 1.10:1, indicating a clear intention to go long. Especially at 01:35, the Binance contract saw a huge buy of 55.79 million at a price of 106400, indicating strong interest from the main players in the current low level. Based on the indicators, there are significant signs of the main force attracting funds. However, the MACD death cross appears in sync with the top pattern, increasing the risk of short-term pullback. But the trading volume continues to increase and the long positions are fully arranged, indicating that the capital game is fierce and there is hope for a breakthrough in the future. Yesterday, the net buying amount of ETH was about the same as BTC. Today, the net buying amount of ETH by American investors has increased. BlackRock has been making strong purchasing power for two consecutive days this week, especially with BTC and ETH going into a dual line battle. Secondly, Fidelity has also started net inflows. Although there was no inflow of Grayscale today, there was no outflow. Overall, although ETH is not as fierce as BTC, investors' interest has still been aroused. But even though BTC has broken through a new high since then, the price of ETH is still hovering around $2500, most likely due to insufficient liquidity. Most of the funds are still in BTC, and it's good that ETH can keep up with BTC's rise. I don't expect to see a better trend for now.
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Operation suggestion:
BTC 107000 long first target to see 108000 second target to see 110000
ETH 2430 long, first target to watch 2490, second target to watch 2580
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Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.
