Interpretation of cryptocurrency market on Nov 14 2022
The market was generally down slightly over the weekend. Primarily focused on liquidation of FTX and the exchange clearing itself. There are a few details to note. First, there were multiple flows of BTC worth more than $10 million from the exchange to wallet addresses. ETH still did not set new lows and trended stronger than BTC. This is because BTC has been affected by the FTX liquidation and has been selling off more recently, while ETH-based tokens account for a lower percentage of FTX's positions. In addition, UNI has seen a significant increase in bottoming funds. Mature decentralized exchanges are not ethically risky. This is especially valuable at the moment.
At the same time, the number of addresses for positions in BTC and ETH tokens is rising rapidly. There are already more and more investors joining the tide of bottoming out. Here is a detail to note: BTC addresses are decreasing. The vast majority of BTCs are held annually, and there are few cases of selling during a crash. We can also see that some large capital investors still choose to risk control at lower prices. The consensus is that the market has yet to stabilize for now. Combined with the UTXO token period distribution, the addresses holding the token for 1-1.5 years are declining, and the percentage of other longer lengths is rising.
Combined with the U.S. stocks: If there is no recent FTX thunder, according to the recent rebound in U.S. stocks, BTC prices should be near 24,000. There will always be a day when the dust settles on the industry's internal problems as well. When the market sentiment digestion and re-synchronization with the U.S. stocks, there is already much room for expectations.
Therefore, the subsequent long-term operation will become dull, basically in the rhythm of holding still and waiting for the bull market. It is not even necessary to swing here. And the market adjustment will continue for a while and can not have too much expectation for short-term gains. So the Institute will also launch another series of tutorials soon. Starting with the pass OP QUESTS, experience the token ecology and applications, and additional NFT rewards for completing related tasks. Considering that OP belongs to the head tokens of the relatively bullish layer2 segment, the current airdrop ratio is low. It is likely that the subsequent airdrop will continue, and the NFT rewarded by OP QUESTS may become the basis for the subsequent airdrop. Specific details can focus on the article and the BKEX Institute's live broadcast.
qr61.cn/ohvxTJ/qvzHomh
At the same time, the number of addresses for positions in BTC and ETH tokens is rising rapidly. There are already more and more investors joining the tide of bottoming out. Here is a detail to note: BTC addresses are decreasing. The vast majority of BTCs are held annually, and there are few cases of selling during a crash. We can also see that some large capital investors still choose to risk control at lower prices. The consensus is that the market has yet to stabilize for now. Combined with the UTXO token period distribution, the addresses holding the token for 1-1.5 years are declining, and the percentage of other longer lengths is rising.
Combined with the U.S. stocks: If there is no recent FTX thunder, according to the recent rebound in U.S. stocks, BTC prices should be near 24,000. There will always be a day when the dust settles on the industry's internal problems as well. When the market sentiment digestion and re-synchronization with the U.S. stocks, there is already much room for expectations.
Therefore, the subsequent long-term operation will become dull, basically in the rhythm of holding still and waiting for the bull market. It is not even necessary to swing here. And the market adjustment will continue for a while and can not have too much expectation for short-term gains. So the Institute will also launch another series of tutorials soon. Starting with the pass OP QUESTS, experience the token ecology and applications, and additional NFT rewards for completing related tasks. Considering that OP belongs to the head tokens of the relatively bullish layer2 segment, the current airdrop ratio is low. It is likely that the subsequent airdrop will continue, and the NFT rewarded by OP QUESTS may become the basis for the subsequent airdrop. Specific details can focus on the article and the BKEX Institute's live broadcast.
qr61.cn/ohvxTJ/qvzHomh
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