Interpretation of cryptocurrency market on April 19, 2023
The market was still largely shaky yesterday. The ETH pledge rate started to pick up. The chain is also seeing accelerated growth in continuous operations for pledged vouchers. The market is still up, and the current position is unlikely to be the highest of the year.
This hedging behavior will create a lot of liquidity in the short term and drive the market higher. However, because of the overlay of leverage, it is a stampede to liquidation once the game is over. At the moment, this play is just raising its head, and if it can be followed up on a larger scale, the final rise, top, and fall of the current round will be accompanied by a faster pace.
As previously judged for the second half of the market, a sizable market should surge higher on FOMO sentiment and end abruptly. On the contrary, the current market sentiment still needs to be hotter.
This hedging behavior will create a lot of liquidity in the short term and drive the market higher. However, because of the overlay of leverage, it is a stampede to liquidation once the game is over. At the moment, this play is just raising its head, and if it can be followed up on a larger scale, the final rise, top, and fall of the current round will be accompanied by a faster pace.
As previously judged for the second half of the market, a sizable market should surge higher on FOMO sentiment and end abruptly. On the contrary, the current market sentiment still needs to be hotter.