1. Market trend: rebound in shock, and the trading volume remains low
After the short-term rebound of BTC price, it once again reached the pressure level near the short-term 10 day moving average, which shows that the adjustment pressure has reached a higher stage. During the month, the price trend of BTC retreated in shock. At present, the position has not received a strong support signal. At the same time, when the trading activity is low, it is difficult for BTC to return to the top of $40000. With the extension of the adjustment cycle, the rise of BTC price needs more good news to realize.
Judging from the overall profit of BTC investors, nearly 50% of the profit-making investors have not yet cashed in their profits.
Unrealized net profit (NUP) is the sum of the difference between the value of utxo and the price created and eliminated only in the profit divided by the market value. Assuming that the recent coin movement is the result of purchase, it shows the total number of profitable utxo. The rising trend of value means that more investors begin to make profits, which increases the selling pressure.
Only from the numerical trend of NUP index, the index value reached 0.465 on April 28, which continued the downward trend in the first half of 2021.
In the early stage, before October 18, 2020, the NUP index value was lower than 0.465 in most trading days. Considering the continuation of the adjustment expectation of BTC, in order to realize the income, NUP as a whole has dropped significantly to the level of 0.37, which may indicate a more effective low absorption signal. Before that, the impact of profit taking on price trend cannot be ignored.
2. Interpretation of cash holdings of eth institutions:
If the total amount of coins held by digital assets such as trusts, ETFs and funds increases, the corresponding eth price may continue to rise. The number of investors holding eth indicated by the index has increased to 3.5 million eth, which is near the peak since 2022. In this way, ETH price has been supported accordingly. According to this judgment, even if BTC and eth are in the reduction adjustment stage, low absorption and fixed investment transactions cannot be stopped.
3. Dragon and tiger list:
With the rebound trend, the old mainstream currencies rose in rotation, and TRX, dash, LTC, EOS and BSV all continued to rebound. Among the top rising currencies, only NEXO and ape increased by more than 10%. This shows that the overall market adjustment continues. We need to pay attention to position control and reduce the risk of short-term trading.
Increase list
NEXO
NEXO provides the world's most advanced real-time encrypted credit line. At present, the assets under management have reached more than US $12 billion, serving 4 million NEXO customers and supporting payment in 40 encrypted currencies.
All encrypted assets stored in NEXO are 100% protected by encryption custodian insurance. NEXO is one of the 50 most important companies in the crypto Valley blockchain cluster in Switzerland and Liechtenstein, and cooperates with industry leaders, including bitgo, coinbase, primetrust, trueusd, onfido and coinfirm.
In the payment concept currency, NEXO increased by 13.1% in 24 hours. On the news side, NEXO has launched a $100 payment discount, which can be paid due attention.
APE
In the early stage, the eco governance system token apecoin (APE) was officially launched and released for the bored ape Yacht Club (bayc). Yuga labs, the parent company of bayc, acquired cryptopunks and meebits. First, acquire two NFT masterpieces, and then issue ecological tokens. The steps are compact and linked.
In the case of unabated trading heat after the issuance of currency, the recent trend of ape is relatively stable. The price rebounded from the closing low of US $10.7 on the daily K-line to the highest of US $27.25, with the highest fluctuation up to 154%. However, the two-way fluctuation of prices has increased significantly, and attention should be paid to tracking risks in the near future.
Decline list
Among the currencies with the highest decline, GRT and GMT have the largest short-term adjustment space, which is related to the instability of the overall market trend. At the same time, it shows that the short-term market duration of hot currencies is short, and the risk of chasing up is also increasing.
