Google just opened up advertising for encrypted trusts, and Lao Lang was curious to check the recent search index for BTC, and found that the popularity of BTC has been warming up in recent months.
In 2018, there was a related paper by Metcalfe indicating that the search index has strong forward-looking significance, meaning that the more times netizens search for BTC, the price will rise.
Lao Lang reviewed and found that while the search index may soar, BTC may not necessarily rise, but the altcoins are likely to come on strong. For example, in 2021, the search index soared, followed by the DeFi hot market, and in 2022, the public chain market and the early 2023 inscription market.
If the search index is seen as "momentum," the better the momentum, the more attention it gets, then large funds will follow the trend and it is also very reasonable to ignite the hot market. Hopefully, we will see more hot market trends after the new year.
It is said that BN is strengthening its cooperation with banks, placing traders' assets in independent banks, and the future market will be more standardized. The news about platforms running away has decreased in the past two years because those who should have run away early have already done so, and small platforms and institutions cannot survive. The market has bid farewell to the era of the common people.
BTC:
There are multiple large BTC transfers to Coinbase, which has a suppressing effect on BTC. BTC broke through the box resistance and entered a short squeeze trend along the 5-day moving average. The key point above is $43,682, and BTC needs to break through with volume. It needs further testing of the high point. Only by standing firm at $43,682 can it further rise and strengthen. Next, BTC will rise to test $43,682.
Resistance levels: $43,682, $44,125, $44,673
Support levels: $42,857, $42,296, $41,732
ETH:
ETH is rising along the 5-day moving average, and the bottom of the hourly chart continues to rise, indicating the existence of long support. The key resistance line formed on the 1.24 and 1.28 days is $2,317.6. ETH needs to break through $2,317.6 with volume to quickly rise and enter a bullish trend. Next, ETH will rise to test $2,317.6.
Resistance levels: $2,317.6, $2,335.2, $2,362.7
Support levels: $2,274.4, $2,232.5, $2,202.3
In the past two days, DEX AI has led the market with hot spots, TAO has surged, and the hot spot of liquidity re-pledge has warmed up. Eigenpie TVL has soared, DYDX has been upgraded to support liquidity re-pledge. Pay attention to the interest rate meeting landing this week, the market's hot spots are diverging, and pay attention to the rotation effect.
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