Interpretation of cryptocurrency market on April 18th, 2023
Yesterday's market maintained a high level of oscillation. The main point of concern this month can already be shifted from economic data to the change in ETH pledge rate, ETH unpledged withdrawals have now declined after a significant increase on the 15th, and 16th.
From the withdrawal data, profit withdrawals account for the vast majority of withdrawals, and there are fewer cases where all withdrawals are canceled for verifier status. Moreover, the market has remained stable or even rebounded under the huge selling pressure. Although the subsequent selling pressure will always exist, the point of maximum pressure has already passed. The market will not wait for the selling pressure to be completely digested before it takes off, and the rise will appear earlier than most people expect.
In addition to this, the pledging track is fragile except for RPL, but the significant growth in pledging volume is real again. The market is always anti-human nature, also as during the WEB3 conference in Hong Kong, the cottage continued to be in the doldrums. When investors abandoned the altcoins to hold BTC, the cottage's markets came, so don't blindly change the weak varieties to solid varieties.
The research institute's operating strategy also involves this, it will only sell the strong varieties to replace the weak varieties and will not operate in reverse, at present is even more so since the Shanghai upgrade landing, the Layers2 plate has been a small performance, after the break, the follow-up may still rotate, while the direct benefit of the pledge track is very quiet, there is also a greater probability that will be in the investors can not resist replacing varieties after the pull-up.
In general, at present still have to hold patiently, have pulled up before considering reducing the position to leave, and because the risk of doing more is currently rising, reduce the position out of the funds, for the time being, no longer do input, if the subsequent market appears unexpectedly down, this part of the funds will only work.
From the withdrawal data, profit withdrawals account for the vast majority of withdrawals, and there are fewer cases where all withdrawals are canceled for verifier status. Moreover, the market has remained stable or even rebounded under the huge selling pressure. Although the subsequent selling pressure will always exist, the point of maximum pressure has already passed. The market will not wait for the selling pressure to be completely digested before it takes off, and the rise will appear earlier than most people expect.
In addition to this, the pledging track is fragile except for RPL, but the significant growth in pledging volume is real again. The market is always anti-human nature, also as during the WEB3 conference in Hong Kong, the cottage continued to be in the doldrums. When investors abandoned the altcoins to hold BTC, the cottage's markets came, so don't blindly change the weak varieties to solid varieties.
The research institute's operating strategy also involves this, it will only sell the strong varieties to replace the weak varieties and will not operate in reverse, at present is even more so since the Shanghai upgrade landing, the Layers2 plate has been a small performance, after the break, the follow-up may still rotate, while the direct benefit of the pledge track is very quiet, there is also a greater probability that will be in the investors can not resist replacing varieties after the pull-up.
In general, at present still have to hold patiently, have pulled up before considering reducing the position to leave, and because the risk of doing more is currently rising, reduce the position out of the funds, for the time being, no longer do input, if the subsequent market appears unexpectedly down, this part of the funds will only work.