The Ethereum Foundation sells coins, Meme Coin explodes, and the market escapes the top signal?
For investors who have experienced the last round of bull market, "Ethereum Foundation sells coins" has always been a fairly reliable signal to escape from the top. Another well-talked-about escape signal is the outbreak of meme Coin. The current encryption market has already gathered these two points.
The "Top Escape Master" Ethereum Foundation has transferred 15,000 ETH (worth about 30 million US dollars) to the address marked "Kraken 5" on the chain via the "0x d 864" address at 8:58 today.
first level title
Collected for the first time in May 2021
These two top escape signals have been confirmed twice in 2021, let us turn the time back to the last round of bull market.
On May 9, 2021, the meme Coin Dogecoin (DOGE) rose by more than 1,000% within a month from April 9 under Musk's bombardment order, and finally reached "1 DOGE= Under the FOMO wave of "$1", it reached an all-time high of $0.72 on May 9, and SHIB, Floki, SAMO and other "little dog coins" began to dance wildly.
The next day, Binance announced the listing of SHIB in the Innovation Zone. Bitcoin tried again to reach $59,000 but failed. Three days later, on May 12, it began to plummet, falling to a minimum of $49,000 within the day.
image description
(Data from Etherscan, screenshot taken from BlockBeats May 21 newsletter)
So far, the market has gathered two top escape signals, and it plummeted again on May 19, 2 days later. The Bitcoin market has experienced the most significant liquidity event and price drop since Black Thursday in March 2020. The event created Bitcoin Largest daily negative candle in history with an intraday price range of $11,506.
first level title
2nd collection in 2021
On July 20, 2021, Bitcoin successfully turned around after gaining support at $30,000 again. The market rose all the way under the positive sentiment of "approval of Bitcoin futures ETF" and optimism that "approval of spot ETF is just around the corner".
On October 28, 2021, when Bitcoin was consolidating at a high level above $60,000, the second meme SHIB hit a record high of $0.000088, an increase of more than 1100% within a month since October 1.
On November 10, 2021, Bitcoin and Ethereum jointly hit a record high. The Ethereum Foundation transferred 20,000 ETH (approximately US$90 million) to the Kraken trading platform at 22:56 on the same day.
first level title
The market can't wait for the sword, but it still needs to be in awe
For things that haven’t happened, no one can predict 100% of the time. It may not be advisable to wait for the sword, but in addition to the above two escape signals, the current encryption market is still affected by the Fed’s interest rate decision, the U.S. banking crisis, and the U.S. government selling coins. , and even the interference of many uncertain factors such as the default of US treasury bonds, every investor needs to remain in awe of the market.
