Franklin Damperton has joined the ranks of asset management companies such as Fidelity and BlackRock, hoping to be allowed to issue the first direct investment Bitcoin exchange-traded fund (ETF) in the United States. The company manages over $1.4 trillion in assets, and tonight also needs to pay attention to the release of CPI, VGX, and the results of the FTX hearing.

Voyager will hold the "final fee hearing" at 23:00 tonight, and the court will approve the compensation and reimbursement of various bankruptcy expenses.

The bankruptcy court will decide whether to approve the liquidation of FTX's $3 billion in assets and return to the market trend at the FTX hearing at 1:00 am on the 14th.

Bitcoin

The daily chart formed a descending wedge, and after another probe lower, it showed a volume-supported bullish engulfing pattern. Although we remind to sell on rallies in the overall direction, we also remind that there may be a rebound in the short term. The MACD fast and slow lines crossed below the zero axis. The BOLL is flat and is about to see a reversal, and the OBV indicator has seen capital inflows in recent days. As long as the bottom of 24900 is not broken, any pullback is a layout opportunity, but the market may not be very strong. The 4-hour chart has returned to the area of heavy trading, and the short-term pressure is near 26500, with support below at 25600 and 25300.

Ethereum

Ethereum is very weak. If it cannot make up for the decline, altcoins led by Ethereum will also experience a decline. Yesterday's rise did not make up for the previous day's decline, and it was a rebound from a new low. The recent pressure trend line on the daily chart has not been broken. The 6-hour rebound did not hold above 1600, and there are two possibilities here: either it rebounds after forming a W-shaped bottom, in which case it must reclaim the key support, or it needs to probe lower. Because there is still an ETH/BTC pattern, it was previously warned that it had formed an upward channel, but now it has also fallen below and continues to test the probability of breaking below 0.06. Therefore, it is necessary to pay attention to altcoins.

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