The bulls are booby-trapped, and the market is back dominated by the bears
1. Industry Interpretation
1. Industry Interpretation
It is basically an open secret that Tether manipulates the price of BTC and other digital currencies through USDT. Although Tether has never admitted it, it is often angered by people.
Last week, a scholar published an article about how the BTC madness in 2017 was manipulated. He pointed the finger at TEDA, the USDT issuing company, and asserted that there was not enough US dollar support behind the USDT issued by TEDA.
TEDA and Bitfinex jointly responded to the report, saying it was flawed and even embarrassing. TEDA claims that all USDTs have corresponding reserves as guarantees and are issued in response to market demand, not to control the pricing of digital currencies.
In response to this report, TEDA stated that in order to support its own conclusions, all the data has been "carefully selected". Because encrypted data can exist both outside the chain and inside the chain. The data inside the chain is easy to get, but it is still difficult to get the data outside the chain.
But no matter what, we still have to exchange TEDA’s USDT in the end, and TEDA will cut leeks.
2. Today's market overview
2. Today's market overview
In terms of market sentiment, according to Alternative.me statistics, today's market sentiment is panic, with a panic and greed index of 40.
In terms of market sentiment, according to Alternative.me statistics, today's market sentiment is panic, with a panic and greed index of 40.
3. Distribution of currency rise and fall
Among the top 100 coins by market capitalization today, 70% of the coins have dropped in price, and the biggest drop is SNX, with a drop of about 10%. The biggest increase is DX, with an increase of 40%. The continuous smashing of the market this afternoon has brought the market back to the short market.
4. Trading volume analysis
4. Trading volume analysis
Among the top 30 currencies by trading volume today, the trading volume is all rising. Mainly because of the long-short double kill from last night to the present, which has enlivened the market. Except for LINK, which has not changed in the past two days, and the trading volume has also decreased, the rest have seen considerable gains.
The total supply of the stablecoin market is about 5.2 billion US dollars, no significant change from yesterday. The USDT OTC Index (USDT OTC Index) reported 99.98 points, down 0.07% in 24 hours. The USDT FTP Index reported 99.98 points, down 0.00% in 24 hours.
Note: The USDT on-market discount and premium index is converted based on BTC/USD, BTC/USDT, USDT/USD and other trading pairs in multiple exchanges. It is the percentage ratio between USDT and USD, reflecting the trader's preference for USDT degree. The USDT off-exchange premium index is calculated based on the off-exchange price of USDT and the offshore RMB exchange rate. It is the percentage ratio between USDT and USD, reflecting the degree of crowding of funds entering and exiting the token market. When the index is 100, it means USDT parity, when the index is greater than 100, it means USDT premium, and if it is less than 100, it means USDT discount.
Note: The USDT on-market discount and premium index is converted based on BTC/USD, BTC/USDT, USDT/USD and other trading pairs in multiple exchanges. It is the percentage ratio between USDT and USD, reflecting the trader's preference for USDT degree. The USDT off-exchange premium index is calculated based on the off-exchange price of USDT and the offshore RMB exchange rate. It is the percentage ratio between USDT and USD, reflecting the degree of crowding of funds entering and exiting the token market. When the index is 100, it means USDT parity, when the index is greater than 100, it means USDT premium, and if it is less than 100, it means USDT discount.
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【BTC】Today is a special day. Those who love shopping know the routine of merchants, which is to increase the price first and then discount it. And BTC is also a routine today. Last night, BTC rose in a wave, and today it fell off a cliff, and finally returned to the original shock range. At the 30-minute level, BTC has returned to the shock range and will continue to fluctuate within the range in the short term, but bears have already dominated the market. At the 5-minute level, BTC has just experienced a sharp drop, and it is weak to reverse, and it is expected to fluctuate downward.
To sum up, if BTC rebounds now, you can short rallies. The operation suggests that the short-term rebound is not strong, mainly short-selling around 8858, with a stop loss of 80 knives.
ETH: ETH fell into the shock range like the pie. The operation suggests that the short-term short-term short-term is mainly around 188, and the stop-loss price is 191.
EOS: EOS dealers have made strange moves recently, it is recommended to wait and see to avoid cash. Operational recommendations are mainly shorting around 3.56, with a stop loss price of 3.6.
LTC: LTC is weaker today. Operational recommendations are mainly shorting near 62.8, with a stop loss price of 63.9.
