MTG moved again in the morning and afternoon, currently holding about 40,000 BTC. Although it did not cause a significant drop in the market, it also suppressed the momentum of long positions. The event gradually reduced the panic in the market. Before it is completely cleared, it is difficult to get out of the unilateral pump trend.

In the past week, about 3 billion USDT were minted off-chain and flowed into the market for short-term catch the bottom layout. The recent shaking of positions has led to a huge on-chain open interest in various exchanges, which will cause a series of chain reactions once liquidation occurs, which is very unfriendly to contract players.
The market data of ETH indicates that it is likely to rebound quickly after reaching the on-chain settlement point. Multiple news is expected to accelerate the market in the next few days. In the short term, there is a high probability that ETH will drop to 2510 and then rebound to continue its upward trend to around 2610-2630. As for BTC, it is better to hold long positions at 57500-57800 in terms of risk-reward ratio.
If there is sudden negative news, around 2300 for ETH and around 54600 for BTC, these two positions are most suitable as catch the bottom points.

#BTC #实盘合约 #ETH