The market volume is sluggish, and the upward momentum is insufficient

特邀专栏作者

2020-06-19 20:05 (UTC+8)

This article is about 1532 words, reading the full article takes about 3 minutes

The standard consensus market composite index was 1,101.98 points, and the index dropped by 1.22% within a week, which was basically the same as the market value of the whole market.

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The standard consensus market composite index was 1,101.98 points, and the index dropped by 1.22% within a week, which was basically the same as the market value of the whole market.

Review of last issue

BTC: Insufficient trading volume of BTC has become the biggest resistance to the rise. The short-term pressure is prominent. It is expected to rise again after falling and gaining strength. The support level is at $8,500. On June 15, BTC fell in a large volume, falling as low as $8,900, gradually regaining lost ground, and the price returned to $9,500 Above, and then maintain the shock trend.

BCH: BCH failed to hold the first-line support of $245 to $250, and has a short-term downside to $220. On June 15, BCH fell to $224 at its lowest level, and then the price rebounded.

Highlights of this issue

Summary: The standard consensus market composite index was 1,101.98 points, and the index dropped by 1.22% within a week, which was basically the same as the market value of the whole market. According to the standard consensus sentiment index, the current market sentiment is stable, the latest index is 0.98, the market as a whole is in a turbulent stage, investors are in a wait-and-see state, and the upward momentum is weak.

BTC: The lack of BTC trading volume has become the biggest resistance to the rise, and it is expected to drop to $8,500 here to confirm the support.

BCH: The upper pressure range of BCH is concentrated at $235~$240, and it can be shorted on rallies.

current report

As of the release of the report (June 12, 2020), the total market value of global digital currency assets this Friday was US$263.241 billion, a year-on-year decrease of US$3.037 billion, or 1.14%. The 24-hour market turnover was US$64.946 billion, a year-on-year decrease of US$41.488 billion, or 38.98%. After the market value fluctuated sharply this week, it gradually stabilized, while the 24-hour turnover turned from up to down again, and the market trading sentiment gradually turned cold.

Data source: standard consensus, CoinMarketCap

The standard consensus market composite index was 1,101.98 points, and the index dropped by 1.22% within a week, which was basically the same as the market value of the whole market. According to the standard consensus sentiment index, the current market sentiment is stable, the latest index is 0.98, the market as a whole is in a turbulent stage, investors are in a wait-and-see state, and the upward momentum is weak. At the same time, according to the ratio of Bitcoin to the total market value, the market value of Bitcoin has not changed significantly; the market value of other currencies has not changed significantly. BTC is still in a dominant position in the market. The trend of BTC is stronger than that of other currencies, and the concentration of funds is relatively high, indicating that the market funds are relatively scarce.

Data source: standard consensus, CoinMarketCap

According to the standard consensus halving countdown index, the current block height of BTC is 635,363, and there are 1,427 days before the next halving. BTC has been halved, resulting in a certain attenuation, which has a greater impact on the profitability of miners. This week, the BTC mining income per T computing power income was $0.07, which dropped again from last week and was at a low level in nearly 3 months.

Trend review and analysis of BTC, ETH, BCH

According to CoinMarketCap data, the average daily turnover rate of BTC in the past 7 days is 11.93%, which is 13.44% lower than the average daily turnover rate in the past three months, and 1.73% lower than the average daily turnover rate last week. According to the inertia, BTC tried again downwards, and then quickly pulled back after falling below $9,000, and finally rose to $9,600, and then began to fluctuate and drop slightly in the small area again. During the decline of BTC trading volume, there was no obvious increase in volume, and at the same time, the trading volume shrank significantly, the overall market sentiment was slack, and there was no obvious directional indicator in the short term. The lack of BTC trading volume has become the biggest resistance to the rise, and it is expected to drop to $8,500 here to confirm the support.

According to CoinMarketCap data, the average daily turnover rate of ETH in the past 7 days is 30.89%, which is 42.89% lower than the average daily turnover rate in the past three months, and 3.41% lower than the average daily turnover rate last week. The turnover rate of ETH has declined for 5 consecutive weeks, and the decline in the turnover rate has decreased this week, indicating that investors are more on the sidelines during the rise in currency prices, and the short-term rise is insufficient. If ETH falls below $220, it will open up room for decline, and the support range is $200.