The market has reached a critical point, what is the future trend?

CN
2 years ago

According to Bloomberg, citing PitchBook data, the top 11 cryptocurrency venture capital institutions with the highest number of transactions in 2023 are as follows: DWF Labs (42 transactions), Coinbase Ventures (34 transactions), Cogitent Ventures (31 transactions), Shima Capital (31 transactions), WAGMI Ventures (30 transactions), Blizzard Avalanche Fund (29 transactions), BigBrain Holdings (29 transactions), Andreessen Horowitz (28 transactions), NGC Ventures (28 transactions), MH Ventures (26 transactions), and Robot Ventures (26 transactions). The report pointed out that HashKey Capital and Jump Crypto did not enter the top ten of the cryptocurrency VC transaction rankings in 2023, and Binance Labs has not been listed among the top investors since 2020. The only listed Coinbase Ventures saw a 75% decrease in the number of transactions compared to the previous year, participating in only 34 rounds of financing.

Important news overview:

  1. Global X formally submitted a withdrawal application for its Bitcoin ETF.

  2. The US SEC plans to temporarily withdraw the lawsuit against DEBT Box.

  3. Grayscale transferred approximately 6227.63 BTC to Coinbase Prime addresses.

  4. German police seized Bitcoin worth $2.17 billion in a piracy operation.

  5. Terraform Labs stated that the bankruptcy application will enable them to appeal the SEC lawsuit.

  6. dYdX: dYdX Chain has officially distributed over 4 million USDC as staking rewards.

  7. Data: 9 ETFs, excluding GBTC, purchased nearly 150,000 BTC within 12 trading days.

  8. Standard Chartered Bank: The SEC may approve a spot Ethereum ETF on May 23, with a potential target price of $4000 for ETH.

BTC:

Bitcoin's rebound has also reached a key level. The previous resistance levels of 44000-45000 are now being tested. The next step is to see if it can hold above the 45000 resistance level. If it can, there is a high possibility of heading towards a new high. If it cannot hold, it will likely return to the 40000-45000 range for consolidation and adjustment. In the near term, the focus remains on four token sectors: fan coins, Binance new coins and secondary coins, Ethereum layer 2 tokens, and the inscription trio.

eth:

Ethereum's short-term rebound has also reached near the resistance level. If it breaks through, it will test the resistance near the new high. If it fails to break through, it will likely undergo repeated oscillations and adjustments. For Ethereum, there is no need to worry. It is advisable to calmly accumulate and hold at lower levels!

RATS:

RATS triggered negative news yesterday, which was later confirmed to be false. With Binance already launching contracts, it is likely that there are no issues with RATS. It is recommended to gradually build positions and take a medium to long-term approach!

ORDI:

ORDI's rally either requires Bitcoin to stabilize or show strength, or it could be stimulated by Binance's launch of a web3 wallet. The fundamental outlook for ORDI has not changed, and its future potential is unlimited. It is advisable to buy on small dips and accumulate more on significant dips!

ARB:

ARB's partial trend is oscillating upwards. For short-term traders, pay attention to the partial bullish trend. Hold if the bullish trend is not broken, and reduce holdings if it falls. Hold on to low-level chips for the medium to long term!

OP:

OP is still as mentioned in recent articles. It is difficult to judge the short-term trend, whether it is a rebound or a halt to the decline and rise. It is still advisable to operate with a medium to long-term approach and focus on accumulating and holding at lower levels!

Platform Coins:

BGB is a long-term coin, so hold onto it. Pullbacks are opportunities, buy on small dips and accumulate more on significant dips!

Caifumi Ma:

  1. Fan coins, UEFA Euro 2020 in June.

  2. Inscription trio, Binance web3 wallet is about to launch.

  3. Binance new coins and secondary coins, based on experience, new coins often experience significant increases after adjustments.

  4. Ethereum series tokens, Cancun upgrade, spot ETF speculation!

Seek warmth in groups, or if you have any doubts, feel free to join us - Public Zonghao: Guanguan Shuibi VX: 3379276514

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