Bitcoin is approaching its historical high of 68686, only a few hundred points away from 69000. Currently, the probability of breaking through this week has increased, and the off-exchange circulation of Bitcoin is being quickly snapped up by institutions! The stock of Bitcoin on OTC platforms is less than 500 coins, reaching its lowest level in history! Morgan Stanley will launch a Bitcoin ETF.
Currently, 10 Bitcoin spot ETFs set a new record for single-day trading volume last Wednesday, with a trading volume exceeding $7.6 billion. The day before, IBIT, an ETF under BlackRock, saw an inflow of $520 million, the largest single-day inflow to date.
Grayscale has sold a total of 203,400 BTC worth $10.864 billion, while the other 9 funds, excluding Grayscale outflows, still received an inflow of $7.238 billion. We continue to monitor the inflow and outflow of ETFs. As long as Grayscale is selling, the other 9 funds can still absorb it. Once there is a net outflow, the market will experience a pullback.
Bitcoin
In the morning, it broke through to 68686, and at midday, it retraced to 65000. It is normal for Bitcoin to fluctuate within a range of 1000 to 5000 points at high levels. A 3-5 point retracement of Bitcoin is followed by a 10-20 point decline in altcoins. Currently, the major resistance is the support below the previous high at 64000. If it does not fall below this level, it is not considered a false breakthrough, and there is still a chance to challenge the previous high. However, the risk continues to increase.
From the Spring Festival market to the current market, 80% of retail investors have missed out, and many have even gone short. They have waited through the two-year bear market only to fall on the eve of the bull market. FOMO anxiety is severe. We still remind that the risk continues to increase. Although we see the possibility of breaking through the previous high, even reaching 80,000.
Support:
Resistance: 
Ethereum
The ETH/BTC exchange rate rebounded, and Ethereum made a breakthrough to 3700. There is still an opportunity to lay out low-level varieties in the altcoin market. With the Cancun upgrade still 5 days away, it is less than 300 points away from 4000. There is no need to worry as long as it does not fall back to the 3520 triangle breakthrough from yesterday. The next resistance after Fibonacci 0.786 (4000) is the previous high.
Support:
Resistance:
Altcoins:
ARB, OP: The weekly line breaks through and retraces to the neckline before continuing to rise. OP breaks through the high point, and ARB breaks through the triangle on the daily line.
If you like my views, please like, comment, and share. Let's go through the bull and bear markets together!!!
The article is time-sensitive and is for reference only, subject to real-time updates.
Focus on candlestick technical research, win-win global investment opportunities. WeChat public account: 交易公子扶苏
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。
