Market Focus
Wall Street Journal: Binance is considering a comprehensive exit from the Russian market.
Binance will provide services to Belgian users through its Polish entity.
Coinbase: Has implemented fixes for some wallet assets showing a balance of 0, ensuring the security of user funds.
Crypto KOL: BlackRock is the second largest shareholder of 4 listed Bitcoin mining companies.
ZachXBT accuses X platform's gold V certification of providing black market for fake accounts, stating that phishing scams are out of control and difficult to report successfully.
The Omani government announced a new investment of nearly $800 million in the cryptocurrency mining business earlier this month.
Nasdaq opened high last night and maintained a volatile trend. The evening trend of Bitcoin was similar to that of technology stocks, with repeated fluctuations in the range of 25800-26300. According to data from a cryptocurrency data platform, the circulation speed of Bitcoin is currently at its lowest point in three years, indicating that long-term holders of BTC continue to maintain their holdings, but there is a lack of macro narrative structure, leading to poor short-term liquidity.
Last week, the net inflow of funds for the four major mainstream stablecoins was recorded for the first time since July, reaching $100 million. Although the inflow is relatively low, it also indicates that the short-term main force has a slight advantage in the game around the 26000 mark. This is also the reason why the market has not completely fallen below 26000 so far. However, it should be noted that the current inflow of stablecoins is relatively low, and it cannot be ruled out that some whales are making fixed investments. Further observation is needed to determine whether 26000 can become a new major pivot.
Technical analysis shows that the range of 25800-26300 has become the main range of recent fluctuations, even fluctuating twice yesterday. Currently, the 4-hour and hourly chart structures are both near the zero axis, and neither the bulls nor the bears can sustain effectively. Therefore, without a thorough breakthrough of the 25800-26300 range, it is difficult to establish a trend in the short term.
At the same time, the daily chart structure of MACD is starting to converge, and the main chart is near T9, indicating a need for technical repairs. Continued observation is needed for the resistance zone near 26800. If the rebound cannot stabilize completely, the risk of BTC retesting the bottom will not be eliminated.
Therefore, the main strategy for operation can be to maintain a low long position and a secondary short position. This round will first test the high point suppression, and each round of low-level testing is an opportunity for long positions to enter the market.
Recommended entry point: near 25500-25800 for low long positions, with a target near 26800. This round can be held as a short-term position.
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