Good evening, folks!
The term "中流" here is somewhat similar to the current "middle class," and whether the lack of ambition in "中流" is similar to the current "lying flat" is also of interest to me in reading this book.
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Data from the cryptocurrency research company Kaiko shows that the proportion of Bitcoin trading on weekends has dropped to a historic low of 16% this year. This decline occurred after the launch of the spot Bitcoin ETF, which seems to have altered the timing of Bitcoin trading to better align with traditional stock exchange hours and reduce Bitcoin price volatility. Unlike stocks, cryptocurrencies can be traded around the clock, even on Saturdays and Sundays. In the past, Bitcoin trading gained notoriety for its "crazy weekends," but this phenomenon seems to be cooling down as Bitcoin weekend trading volume has steadily declined from its peak of 28% in 2019. The launch of the Bitcoin ETF may be one of the significant reasons for this. Dessislava Aubert, a senior analyst at Kaiko, stated that the decline in weekend trading has been "a trend that has been present for many years, but the ETF has exacerbated this trend." Kaiko indicates that the proportion of Bitcoin traded between 3 pm and 4 pm on weekdays has increased from 4.5% in the fourth quarter of 2023 to 6.7%. This period is known as the benchmark pricing window, during which ETF owners determine the price of Bitcoin and then use it to calculate the net asset value of the ETF.
BTC: Looking at the 4-hour chart, the price rebounded above the middle Bollinger Band, indicating a relatively good short-term market, but there is still price resistance above, and the space is still limited.
Looking at the daily chart, the price is supported by the moving average, but there is still pressure from multiple moving averages above, indicating a relatively average market space.
In summary, the support level is at 61400, and the resistance level is at 61800.
ETH: Looking at the 4-hour chart, the price is still below the middle Bollinger Band, with a general trend, support level at 3380, and resistance level at 3400.
LTC: The price continues to stay above the middle Bollinger Band, with a general trend, support level at 74, and resistance level at 77.
BCH: The price is above the middle Bollinger Band, indicating a relatively good short-term market, with support at 380 and resistance at 400.
That's all for now, good night!
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