Bitcoin: After two days of adjustment, it has not adjusted down and has the potential to continue to rise

The European Central Bank raised interest rates by 50 basis points, the first rate hike in 11 years, exceeding the previous expectation of a 25 basis point rate hike. This shows that inflation in Europe has become so serious that it is outrageous. Although the economic situation is very bad, in order to curb inflation, it is necessary to choose to start the path of raising interest rates. In the next few years, the economic outlook in Europe is still relatively poor, and it is not recommended to participate in any European assets. The United States will continue to reap the wool of the world and use the appreciation of the US dollar to expand the total economic volume between it and other countries. Therefore, assets denominated in US dollars are still worth looking forward to after a period of interest rate hikes.

V God said at the ETHCC conference in Paris today that Ethereum is going through a long and complex transition and will become a more powerful and stable system. He also revealed that Ethereum's merge test has been completed by 90%. Once the merge is successful, validators can withdraw the ETH they locked in ETH2.0. According to the current expected time, the last test network merge of Ethereum is August 8-10. If everything goes well, the final 2.0 upgrade time is September 19. V God said that the locked ETH can be withdrawn after the merger. This is Lid. The agreement is relatively positive. At present, Steth still has a discount of more than 2% to ETH. If the pool can be retrieved at maturity, Lido will exchange Steth for ETH and return it to the locker. This means that it is still a relatively cost-effective way for Ethereum holders to exchange Steth. Under normal circumstances, 2.5% is obtained in 1.5 months, and the annualized return reaches 20%. Adding the 4% annualized return given by Steth itself, it is still very cost-effective. The risk point is that the Lido pool contract loophole and the ETH upgrade are not as expected, but the probability of occurrence is relatively small, which is a relatively high cost-effectiveness.

CZ said that the average daily trading volume of Bitcoin is as high as 100 billion US dollars, and the 900 million US dollars of Bitcoin recently sold by Tesla is just a drop in the ocean for the market. There is nothing wrong with what he said, and the impact on the market has passed. The only impact is the blow to people's confidence in holding positions. If Musk buys it back someday, it will be able to solve the problem of panic. With Tesla's selling, people began to rumor that MicroStrategy is also selling coins, indicating that the third largest Bitcoin address is Microstategy's, which is basically the same as the number of coins it holds, but this is just a rumor at present, and there is no solid evidence. Through the analysis of the address, it can be seen that the third largest whale transferred 130,000 tokens to a new wallet through Coinbase, and there was almost no selling behavior, so don't listen to rumors and panic easily.

The difficulty of mining in Bitcoin City has been reduced by 5.01%, the largest drop in a year. More and more miners have surrendered, mainly because they are unable to make ends meet and cannot pay the electricity bills. They can only choose to shut down and wait for the price of the currency to rebound.

Since May, large institutions have sold about $5.5 billion of Bitcoin, but statistics show that most of these sales are passive sales. Due to the sell-off caused by a series of liquidity crises triggered by the collapse of LUNA and UST, the JPMorgan report shows that the intense phase of deleveraging has ended and retail investor demand is steadily recovering. Most institutions have passively surrendered, which has laid a good foundation for the healthy upward trend of the market in the future and is an important step.

Panic 33, the level is still panic.

City News:

Bitcoin: It has not adjusted for two days and has the trend of continuing to rise. The Nasdaq has also been performing strongly recently. The global risk appetite has increased again, which is conducive to the continued strength of Bitcoin. At the same time, the expectation of Ethereum 2.0 has brought high overall market sentiment, which is also conducive to the continuation of the rebound. The strong pressure above is around 28,000. If the US stock market continues to be strong tonight, this position is worth looking forward to next week.

ETH: The Ethereum balance on the exchange hit a 4-year low, and all the coins were withdrawn. The 1700-1800 strong pressure zone is just around the corner. If it touches it, there should be a lot of selling pressure, and the possibility of going directly there is very low.

ENS: The transaction volume of domain names exceeded 100 million US dollars. Although it is still small, the potential still exists. Since the cooperation with Coinbase, it has reached a cooperation with Huobi, supporting Huobi's user addresses to use ENS domain names. The current position is a strong pressure zone. If it can stay sideways for two days, there will be a chance to continue to attack.

CRV: The first native stablecoin will be issued, but the specific date was not specified. Even so, the market rose upon hearing the news and stood firmly above the pressure level, and is expected to continue to lead the market.

The market trend is stronger than expected, but the 4h divergence means it will take some time to continue to rise.