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1) Market trend The overall decline hit a new low, and Bitcoin triggered a weekly oversold signal for the first time since June 2022. Bitcoin's key trend line is at $68,000, which may be a "bottom" for the price. Historical data shows that after Bitcoin falls below the 100-week moving average, it often falls back to the 200-week moving average and forms a mid- to long-term bottom. Some traders predict that if the price falls further, the $68,000 line will be the key observation area. If it falls, the next range of concern may move down to $55,000-58,000. Although BTC has retraced more than 40% from its high point, market sentiment has not yet completely capitulated. Institutional analysts pointed out that the "cold winter" in the encryption market usually lasts about 14 months, and the current stage may be coming to an end. At the same time, the U.S. spot Bitcoin ETF has had a net outflow of approximately US$3.2 billion since mid-January, accounting for only about 3% of its total management size, indicating that long-term funding resilience remains.  Viewpoint: The stock has continued to fall recently, with the main intention of liquidating Yi Lihua, with a floating loss of 50%, and continuing to cut the meat. Recent hot topics: Trump said that "Washruti would have been eliminated from raising interest rates long ago", and Bessant said that the president could intervene in the Federal Reserve. 2) Selected ALPHA information (1) BTC OG insider whale withdraws 80,000 ETH from Binance. ($ETH) (2) The circulation of TRC20-USDT increased to 84.4 billion pieces, setting another record high. Since the beginning of this year, the Tron network has issued a total of 3 billion additional USDT. As of now, the number of accounts held by TRC20-USDT has reached 71.27 million, and the cumulative number of transfers has exceeded 3.13 billion. ($TRX) (3) Solana Lianchuang’s avatar has added Backpack elements, which may hint that Backpack TGE is approaching. (4) Aptos and BCG jointly released a white paper on Hong Kong tokenized funds, focusing on the path to institutional-level large-scale implementation. ($APT) (5) The liquidation price of Yi Lihua’s Trend Research position dropped to US$1,640, and he still held 463,000 ETH with a floating loss of US$474 million. ($ETH)  3) Kyle Samani, chairman of SOL’s largest treasury company, announced his exit to explore new directions in the technology field. Multicoin Lianchuang Kyle Samani said yesterday when replying to the "Bear Market Complaint" posted by X user Taran (@Taran_ss): Cryptocurrencies are simply not as interesting as many people (myself included) once thought. I used to believe in the vision of Web3 and dApps. Now I don't believe it. Blockchain is essentially an asset ledger. They will reshape finance, but no more than that and not much more. DePIN is another area of note. Cryptocurrencies will continue to get better, but all the really interesting questions already have answers, except for the question of on-chain privacy/confidentiality. (I still firmly believe Zama will win this track)  Afterwards, Kyle quickly deleted the tweet and issued a resignation announcement earlier today, saying that he had decided to retire from Multicoin Capital and would continue to serve as chairman of Forward Industries (the largest SOL treasury company). He looked forward to taking a short break and exploring new directions in the technology field. Kyle responded to another tweet saying that he personally still has an extremely bullish attitude towards SOL and cryptocurrency, and will continue to participate in the cryptocurrency field in his personal capacity and as Forward Chairman. However, Multicoin Capital’s letter to LP may have further verified that “Kyle is no longer interested in encryption.” The letter stated that “Kyle’s interest has expanded from cryptocurrency to other technology fields such as artificial intelligence, life sciences, and robotics, and he has decided to invest time in exploring these emerging technologies. 」 Investment is risky. This article does not provide investment advice. It only compiles blockchain-related news and information for understanding! For other learning and exchange intentions, you can add any of the following contact information!  |
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