1、 Market trend: BTC adjustment is coming to an end
BTC's short-term rebound above the moving average is currently running above the bonding area of the 10th, 30th and 60th moving average, indicating that the short-term bull strength is dominant. In terms of pressure level, BTC failed to reach the $44212 corresponding to the 120 day moving average, which means that the price performance of BTC is still not strong enough. Therefore, when judging the price trend, the contraction adjustment may be the expected direction. Nevertheless, there are positive factors for the upward price of BTC. For example, the number of giant whale addresses remains at 2277 and continues to operate at a high level, which means that the main force has a large number of coins and the price will be pulled at any time.
In eth, the number of active addresses has rebounded frequently recently, with a value below 700000, which means that the trading activity is improving. At the same time, eth2 In terms of the promotion expectation of 0, the time point of transition from POW to POS is approaching, and the expected reduction in selling pressure will also increase the price attractiveness accordingly.
2. Message side interpretation
Goldman Sachs updated its forecast for the Fed's interest rate hike after the US inflation data was released.
Goldman Sachs predicts that the Federal Reserve will raise interest rates at each meeting in the first quarter of 2023, and predicts that it will raise interest rates by 25 basis points seven times in 2022 and five times in 2023, with the final interest rate reaching 3-3.25% (previously expected to be 2.75-3%). Therefore, the expectation of monetary policy tightening is still bad for the financial market. After the short-term interest rate hike boots landed, the impact of medium and long-term interest rate hikes on the stock market deserves attention.
Recently, the three major indexes of U.S. stocks continued to rebound, and gold maintained its adjusted performance after the implementation of interest rate increase. Although the BTC price rebounded slightly, the price rise still needs more strengthening signals. Therefore, in the near future, it still maintains cautious low absorption.
3. Up and down list
DASH：
The market performance of dash in the early stage was flat, but the increase in three days was significantly expanded. Within 24 hours, Dash's latest increase expanded to 10.7%, ranking second among the top 100 currencies in terms of market value. The trading volume exceeded US $700 million, with a cumulative increase of 25% on the 3rd.
In terms of news, Ernesto, a core member of dash, will have a dialogue with the uphold team, or explain the background and reasons for the market value of dash.
ETC:
Etc has risen by 7.9% in 24 hours, ranking first in the dragon and tiger list. Reviewing the price performance in the past seven days, etc also increased by 53.1%, ranking first among the top 100 currencies in market value.
On March 19, the etc team recently announced the ability to be compatible with eth virtual machines and allowed thousands of Ethereum dapps to be transplanted to etc. Affected by this, etc has increased by 12.5%, 20% and 5% for three consecutive trading days since March 19.
From the perspective of exchange, the sharp rise of etc price often improves the short-term top signal of BTC. The strong rise of etc this time, and whether its reverse index can be fulfilled, we can continue to pay attention to the linkage performance of etc and BTC.
BCH
BCH has risen by 3% in the past 24 hours, ranking high.
In terms of transaction volume, the top five currencies in the transaction volume in the past day are BTC, ETH, BCH, etc and Luna. Among them, the transaction volume of BTC and eth corresponds to the proportion of market value. BCH ranked 25th in market value and third in trading volume, etc ranked 29th in market value and fourth in trading volume. This shows that the short-term trading heat of BCH and etc has reached a high level, and the market value performance can continue to be concerned.
LUNA
Luna continued to rank high in the performance of growth within 24 hours, ranking 10th. Due to the large cumulative increase of Luna, the market performance continues to lead the rise of most mainstream currencies. Meanwhile, Luna's price is close to the highest in history
Luna's lock up growth is very rapid, and its share space in the overall public chain continues to increase. Data show that the TVL of the latest Luna has increased to US $26.45 billion. At the same time, the Luna band rose by more than 88%, and the short-term adjustment does not change the strong price.
In the defi concept currency, CVX ranked top in terms of growth.
Boca test network token KSM led the increase, rising 5.4% in 24 hours. With the increasing abundance of projects on Boca parallel chain and the gradual progress of ecological construction, we can pay due attention to the low absorption opportunities of KSM. In terms of platform currency, decentralized exchange token cake led the increase.
Decline list
Ape and rune, which increased significantly in the early stage, have more room for adjustment in the past 24 hours. The overall market performance is not strong. BTC and eth make short-term adjustments and pay attention to the trend of the overall market.
