Market

Bitcoin From the weekly chart, Bitcoin has experienced a weak adjustment after a rebound. There may be a small direction this week! Pay attention to the position near 28700. As long as this support level is held, the situation may improve.

Ethereum It closely follows the overall market trend. Although trading volume increased on Monday, it still accounts for less than one-third of Bitcoin's volume. In a bear market, most funds flow to Bitcoin. In addition, Ethereum faces regulatory risks and is not as favored as Bitcoin. In the short term, Ethereum may continue to follow Bitcoin's trend.

Market Status Recently, Bitcoin's volatility has been very low, and there are currently few chips left in the short term.

This also indirectly indicates that the speculative nature of Bitcoin in the short term is decreasing. Currently, most positions are held with low leverage. The liquidation steps are also very clear.

Bitcoin's volatility has also reached a historical low point. There have been two instances of very low volatility in the market downturn, one occurring at the end of October last year and the other at the beginning of January this year. After the decrease in volatility, around November, FTX collapsed, triggering a rapid decline in the market. After reaching a high volatility state, it returned to a downturn until the beginning of January this year when the market saw a strong uptrend.

Now, the 30-day average volatility has dropped below 1% to around 0.8%, but it is believed that a major trend will emerge quickly after the downturn.

Federal Reserve Interest Rate News PPI data shows that the probability of a rate hike being stopped in September is still as high as 88.5%, which may have a relatively small impact on the market.

In addition, Goldman Sachs' latest forecast is that the Federal Reserve will not raise interest rates this year and will begin cutting rates in the second quarter of next year. The reason is that core inflation has shown signs of stagnation, and the current level of stagnation is sufficient to make the last rate hike unnecessary. It is expected that rate cuts will begin in the period from March to June 2024.

ETF News The SEC has extended its review of ARK Investments and 21 stock spot Bitcoin ETFs, stating that the reason for the extension is that the SEC will continue to review applications from traditional financial institutions such as BlackRock and Fidelity.

In simple terms, BlackRock and other major players need to pass before others can follow.

So, the ETF matter cannot be rushed. Although the SEC is still unwilling, I believe there will be a result by the end of this year.

Sharing a Coin (Expected 30x)

CTK

Project Introduction

CertiK was jointly created by Yale University, former Google and Microsoft engineers, and senior engineers. It masters cutting-edge formal verification technology to provide the highest level of security defense for system software from a mathematical perspective, building the next generation of highly trusted secure software systems in areas such as blockchain, operating systems, and cloud computing.

Funding

Led by Lightspeed Capital and Binance, CertiK completed its Series A financing in June 2018, with IDG Capital leading the investment.

Regarding the current circulating market value of $55 million, with 80% circulation, behind-the-scenes institutions include Lei Jun, Binance, COINBASE, Sequoia Capital, Goldman Sachs, and SoftBank. CTK is the only blockchain security organization on the 2022 Blockchain 50 list, and has also donated to the Globee Awards for Network Security Excellence. A solid bottom, with a promising future.

In the cryptocurrency industry, if you want to seize the opportunity of the next bull market, you need to have a high-quality circle, where everyone can huddle together and maintain insight. If you are alone and find that there is no one around, it is actually very difficult to persist in this industry.

If you want to huddle together or have any doubts, feel free to join us - WeChat public account: Crypto Wufan

Thank you for reading. If you like it, please give it a thumbs up and follow us. See you next time!

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。