Last night's CPI data was favorable for risk assets. After the data was released, Bitcoin briefly surged above 89,000 but quickly dropped to around 84,000. The futures market saw liquidations as high as $450 million.
BTC OG whales deposited 5,152 BTC (approximately $445 million) into Binance. Currently, there are no signs of a halt in the decline or stabilization from the market perspective. However, after the Bank of Japan's interest rate hike was implemented, market panic sentiment is expected to improve.
BTC
From the 4-hour chart, this decline appears to be a falling wedge pattern, likely the final leg of the drop. It's uncertain whether this pattern will fully form, as the overall trend remains bearish. However, considering the short-term rebound potential, I'm temporarily holding off on short positions and will keep my long positions for now.
Watch the 89,000-90,000 range. If it breaks and stabilizes above this level with strong upward momentum, it's highly likely to confirm the falling wedge pattern, indicating a potential trend reversal.
The current rebound isn't over yet. Keep an eye on the upper resistance line for further analysis.
ETH
ETH's rebound has been quite strong, possibly due to the resolution of negative news, prompting large funds to start buying in batches. This led to a rapid price rebound. Although it's still within a descending channel, the 4-hour chart shows consecutive golden crosses at low levels, suggesting a likely breakout in the short term.
Key resistance levels to watch are 3030 and 3150. Consider shorting around these levels.
Support levels are at 2860, 2750, and 2650. For medium-term short, target 2500.
SOL
Recently, SOL has been relatively sluggish. Last night, it broke below the 120 mark. During this phase, SOL's performance has been quite weak, failing to break above the 145 resistance three times. The support at 122 was directly broken, indicating selling pressure for some time. If it stabilizes above 123, consider buying long with targets at 132-135.
RTX
Total supply: 100 million. Initial circulation: 16.66%. Pre-market price: 1.3. Pool price: 1.2.
Pros: 1. Second Aster USD1 trading pair. 2. Community anti-sybil measures, though not as high as 1.33%.
Cons: 1. On-chain TVL is 44 million. 2. The fundraising timing is questionable, with no clear justification for the November fundraising. TVL performance hasn't been strong enough to support the token launch.
The project seems average, with mediocre trading volume and no significant advantages. The pre-market valuation is neither high nor low. Keep an eye on it after launch.
ZKP
Total token supply: 1 billion. Initial circulation: 201.6 million (20.16%). Pre-market and pool price: 0.175U. Corresponding circulating market cap: $35 million. FDV: $175 million.
Kaito presale: 2%, with half unlocked at TGE. Claims open on the Ethereum network at 20:00. Aspecta key presale: 0.2% of tokens available for exchange within 2 hours of TGE. Additional community airdrops, Kaito sybil airdrops, and Binance BOOSTER 10 million tokens mean there are quite a few scattered tokens outside.
However, the project team hasn't clarified the airdrop quantity, which is quite sneaky. Price maintenance and Binance contract listings shouldn't be an issue. After various airdrops are sold off, consider whether to take a position for a contract listing.
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