1. Market trend: high profit margins, major changes
On April 7, BTC's latest trading data showed that the selling pressure from the exchange increased significantly, especially the selling pressure brought by the main force in the top 10. In terms of the proportion of main selling pressure, the value reached 0.587. In other words, nearly 60% of the selling pressure is driven by the trading of large funds, indicating that the short-term currency holding risk is also growing.
In terms of the proportion of relative selling pressure, the proportion of selling pressure on April 7 was lower than the previous high of 0.66 on January 22 and 0.63 on February 15, which means that the BTC price correction may be within the controllable range. At present, we can pay attention to trading opportunities of more than $43000.
In terms of the K-line, the BTC price retreated, fell below the middle rail of the brin line, and fell below the support of US $43847 corresponding to 38.2% of Fibonacci. The Bulls did not pay attention to the expansion of the decline.
2. Interpretation of investor sentiment:
The recent performance of the panic index is weak, and the overall value has not been higher than 60 since 2022, indicating that investors' trading enthusiasm is not high. Compared with the performance of the panic index in the second half of 2021, the current panic index is more panic, so it can not be radical in the trading direction.
In the calculation of the panic index, the trading volume, volatility and bitcoin market value have 25%, 25% and 10% weights respectively. The current trading volume has not changed much, and the long-term contraction trend has not changed, limiting the rebound of the panic index. In addition, the short-term BTC decline expanded, the volatility rose, and the panic index fell to around 37. Panic is spreading rapidly.
3. Dragon and tiger list:
As most mainstream currencies rebounded and rebounded, there were few adjustment currencies in the sector, and most of the top decline was the concept of stable currency. Luna, usdt and UTSD were among the top callbacks. Near, as the second tier concept currency of Ethereum, has a short-term 24-hour increase of 24.2%. FXS, the stable currency of the algorithm, showed strong performance, while CELO and avax, other related currencies, performed well.
NEAR
Near rose 24.2% in 24 hours, ranking the first. The cumulative financing of US $450 million during the year, the expectation of online coinbase and the upcoming algorithm stability currency USN have all become factors for the soaring price.
In terms of trading volume, the 24-hour trading volume of near increased to US $1.81 billion, the highest value since September 9, 2021, indicating that the growth potential is expected to open.
Financing: near protocol raised US $350 million, with tiger global leading investment, FTX ventures, dragonfly capital and other investment participants
On April 6, near protocol announced that it had completed a financing of US $350 million, led by Tiger global and participated by Republic capital, FTX ventures, hashed and dragonfly capital. The new financing will be used to accelerate the decentralization of near ecosystem.
In January 2022, near protocol completed $150 million financing, led by three arrows capital, including mechanism capital, dragonfly capital, a16z, jump, Alameda, Zee prime, folius, amber group, 6th manventures, circle ventures and metaweb VC (near ecological Fund), hedge fund giant Alan Howard, Santiago Santos, a former partner of parafi capital, and stani kulechov, founder of AAVE, participated in the investment.
In terms of expected events, near will be listed on the coinbase exchange in the coming months, which will help to improve its popularity among retail investors in an unprecedented way. This also paves the way for the integration of near NFT into the upcoming NFT market of coinbase. Finally, on April 20, near will announce that it will cooperate with other capital sufficient stable currencies to launch their own native algorithm stable currency USN. They will offer an annual interest rate of about 20%, which is very attractive. It will also promote the rotation of defi capital to the near ecosystem and absorb the total TVL from other Tier-1 agreements.
According to the latest TVL growth data, the lock up volume of near increased to US $367 million, an increase of 07% from February 14.
FXS
After three trading days of adjustment, the price of FXS rebounded rapidly in the short term, with an increase of around $35 and expanded to 21.3% within 24 hours. In terms of market value, FXS has a market value of US $2.07 billion. The short-term price increase is basically consistent with the growth space of TVL since December 2021. As the daily trading volume reached US $440 million on April 3, there is still great potential for growth.
Decline list
After the short-term increase of Luna, the stable currency of the algorithm, narrows, the price runs around $100. As the leader of algorithmic stability currency, its market value has reached US $36.2 billion. As Luna's volume and price performance is stable, the price correction space may not increase significantly, and the low absorption opportunity can be paid due attention.
