News
On January 30th, according to the Financial Times, Binance trading platform has started to allow some large-scale traders to store assets in independent banks, including Switzerland's Sygnum Bank and Flow Bank. Previously, Binance customers could only hold assets on the trading platform or through custodian Ceffu.
According to official news from Derbit, a trader today paid $1.19 million to buy 1155 BTC with a call option expiring at the end of March with a strike price of $50,000, with a 33x leverage long position, marking the largest options block trade on the platform today.
On January 30th, advertisements for the US Bitcoin spot ETF were displayed normally in Google search results. Tech giant Google updated its cryptocurrency advertising policy in December last year, allowing advertisements related to cryptocurrency trusts starting from the end of January 2024. In the policy change log on December 6th, Google stated that its cryptocurrency and related product advertising policy would be updated on January 29th, 2024, to allow "advertisements for cryptocurrency trusts to be targeted to US advertisers."
Market Review
In yesterday's article, it was mentioned that the market might first reach the support level, then break through to around 442,000, and as expected, the market declined yesterday, but the decline was weak and did not touch the support level, going directly into an uptrend, reaching a high near 43,800. There is still some distance from my expected 44,200, so how much room is there for the bulls after the morning session continues to rise today?
Market Analysis
Currently, Jia Shi Fund has submitted the first Bitcoin ETF application in Hong Kong, which is expected to be listed shortly after the Spring Festival! This is the first institution in Hong Kong to submit an application for a Bitcoin spot ETF. The Securities and Futures Commission of Hong Kong hopes to expedite the approval of the first Hong Kong Bitcoin spot ETF, and plans to list the first Hong Kong spot Bitcoin ETF on the Hong Kong Stock Exchange after the Spring Festival. Compared to the spot ETF in the United States, the spot ETF in Hong Kong may not only accept fiat currency subscriptions, but may also increase the possibility of direct Bitcoin subscriptions. This is a tacitly positive development. It was also mentioned in yesterday's article. Jia Shi Fund Management Co., Ltd. was established in March 1999 and is one of the first 10 fund management companies established in mainland China, headquartered in Beijing. The background of the company is worth pondering. Therefore, the dominant view is that the overall market situation will not see a significant decline until the positive news is actually implemented. It may continue to maintain a strong position or decline sideways.
Looking at the market situation, the market has returned to the previous long-term oscillation range, and is currently moving towards the upper range of the oscillation, around 44,200/45,000. Therefore, there is still room for an upward trend. At the same time, the overall market is very strong. There were continuous positive movements from late last night to early this morning, with a weak pullback only occurring around 10 o'clock in the morning. Therefore, I personally believe that after a short-term consolidation here, there are still conditions for an upward move in the short term. Therefore, pay attention to support at 43,000/42,600 in the short term, with resistance at 44,200/45,000. Still, buy high and sell low, and make your own judgment on operations. Real-time market changes will be explained in the live trading.
Technology is the means, trend is the king, let the dominant figure in the currency circle guide you through the sea of coins.
Be cautious when entering the market, as operations involve risks.
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。
