Interpretation of cryptocurrency market on January 10, 2023
Yesterday, the overall market rose. But the rise is still concentrated in small tokens, the round of market rise behind the hidden problems or a lot of. Yesterday BKEX Institute Livestream also mentioned that the current round of the market might need to have sustainability. First, the market fundamentals still need to improve. The Federal Reserve has not yet taken a position. The cost of funds is still high, and more liquidity is needed. Secondly, this rally needs to be supported by more than over-the-counter incremental funds but only by the speculative behavior of on-counter funds. We can see this in the change in the total market capitalization of the crypto market. Small tokens have risen more than 20%. However, the total market cap of the crypto market has only risen by 7%, and BTC has only risen by 4%. After deducting the nearly 40% weight of BTC. The current lively rally has only pulled up 5.4% of the market cap (including the 2% contributed by ETH). Picking varieties with smaller market capitalization and easy to manipulate to launch the market itself is also a reflection of insufficient funds.
As mentioned in the article on annual report opinion data analysis, BTC is the variety that the over-the-counter incremental funds focus on. The current round of rallies did not start. The enthusiasm for over-the-counter funds is not ignited. The market naturally does not have sustainability. The market will adjust if the situation remains unchanged in the following days, and even if BTC makes up for it, there is a possibility that it will bleed other tokens.
In addition, the 12th inflation data release will be an essential point in time. The market is expected to decline by 0.5%. Compared to previous expectations is an increase. However, according to the last analysis, the probability of meeting the expectations is still relatively high. So the night of the inflation data, the market rises in response to the likelihood of more significant. For aggressive investors, leave it until the evening of the 12th and consider stopping out. Conservatives can use a moving stop loss to guard against risk. You can also avoid losses from less-than-expected inflation data or short-term goods out of the market. As for the long-term single, there is no need to toss it. The bull market did not come. There is no time to take profit.
As mentioned in the article on annual report opinion data analysis, BTC is the variety that the over-the-counter incremental funds focus on. The current round of rallies did not start. The enthusiasm for over-the-counter funds is not ignited. The market naturally does not have sustainability. The market will adjust if the situation remains unchanged in the following days, and even if BTC makes up for it, there is a possibility that it will bleed other tokens.
In addition, the 12th inflation data release will be an essential point in time. The market is expected to decline by 0.5%. Compared to previous expectations is an increase. However, according to the last analysis, the probability of meeting the expectations is still relatively high. So the night of the inflation data, the market rises in response to the likelihood of more significant. For aggressive investors, leave it until the evening of the 12th and consider stopping out. Conservatives can use a moving stop loss to guard against risk. You can also avoid losses from less-than-expected inflation data or short-term goods out of the market. As for the long-term single, there is no need to toss it. The bull market did not come. There is no time to take profit.