Bitcoin chain data is getting healthier, and addresses held for 0-6 months have reached a historical low

The data on the Bitcoin chain is getting healthier and healthier. Addresses holding for 0-6 months have reached a historical low, indicating that Bitcoin holders are now stronger than ever before, and retail investors and new investors only account for 23.9% of the total number. Addresses holding 10k-100k account for 12% of the total Bitcoin, reaching a one-year high. All signs show that the bullish signal is relatively obvious. The probability of Bitcoin reaching the bottom near 30,000 is high. Holders will no longer sell, and the rest of the time will be left to incremental funds. Any good news may bring about a wave of rising prices, because the rise caused by the increase will drive the enthusiasm of existing funds. In short, there is no need to worry about the long-term trend.

The open interest of CME Bitcoin contracts decreased last week. The long-short ratio of institutions was 1:1.3, that of large investors was 7.8:1, and that of retail investors was 1.1:1. This means that institutions and retail investors have large differences in their views on the market, while large investors are still consistently bullish. The overall data is healthier than before, and the continued downturn has washed out a large number of retail investors who were long.

The Central Bank of Uganda has made a 180-degree turn in its attitude towards the crypto industry. Previously, the central bank stated that any institution that facilitates cryptocurrencies will have its license revoked. Now Uganda has launched a crypto sandbox program to encourage related companies to enter the regulatory sandbox. This means that the Ugandan government will re-examine the crypto market and embrace crypto through regulation. In the future, more and more countries will correct their past mistakes, but it may be relatively difficult for some big countries to turn the ship around.

Dubai retail giant Majid Al Futtaim has partnered with Binance to directly connect 29 shopping malls and 13 hotels to accept cryptocurrency payments, which covers almost all of the largest shopping malls in the UAE. This shows how popular cryptocurrency has become in this country. In a sense, its popularity may exceed that of the United States. Today's market rise is related to this news. Since the news was announced, the market has gradually become stronger.

The mayor of Australia's Gold Coast said that residents can pay city government fees and property taxes with Bitcoin in the future. This is a signal of innovation and also means that another major city fully supports Bitcoin. Gold Coast may be the Miami of Australia.

The survey shows that most of the people who hold cryptocurrencies in the United States are high-income people, and almost all of them have a traditional financial background. This shows that people who invest in cryptocurrencies in the United States are also highly educated people. If this survey is conducted in China, I am afraid that the proportion will be even more terrifying. People who can play in the cryptocurrency circle every day have practiced martial arts. Such a group of investors who love learning must be elites in all walks of life. Whether a person will have money in the future does not depend on his current financial situation, but on whether he has the ability to continue learning. When he accumulates enough one day, he will be able to break out from scratch.

Octagon Networks, a cybersecurity company, converted its entire balance sheet into Bitcoin and accepted Bitcoin payments. This is a very crazy move, which is equivalent to all the company's liquidity being AU in Bitcoin. Although the amount is unknown, such asset-light technology companies do have the strength to buy Bitcoin because they have relatively low expenses and can tolerate the sharp fluctuations of Bitcoin.

Panic 13, extreme panic.

Coin News:

Bitcoin: Today's rise in Bitcoin is very similar to what the madman said before: One Yang pierces N

Negative, it is a real rise, which may be the starting point of this round of rise. The key point we need to pay attention to is whether the US stock market will push Bitcoin back again in the evening. As long as it stands firm at 31,000 overnight, the pressure above 34,000 will be just around the corner. The overall idea is bullish. After all, after this wave of rise, very few investors dare to chase high prices. Therefore, the probability of a real breakthrough today is higher.

Ethereum : Core developers said that the mainnet merger date must be determined after the two testnets are merged. Currently, there is no clear time for the other two testnets (Goerli and Sepolia), so the launch time of 2.0 is still unclear. It is expected to be at least after September.

Today’s rise has brought Ethereum’s short liquidation amount to a three-year high. It seems that all the previous sell-offs were smokescreens for the shorts, and those who chased the shorts were comprehensively killed. Whether it was a real looting before a decline or the starting point of a rise, the answer will be known today and tomorrow.

SOL: The total NFT sales on the chain reached US$2.35 billion, second only to Ronin and Ethereum. Ronin is mainly due to the contribution of Axie, which shows that SOL is still the first choice for high-throughput chains at present, so its future development is still worth looking forward to.

XRP : The former director of developer relations said that Ripple will rise to $100 in the future, just like the prediction of Bitcoin rising to $60,000 in 2009 was ridiculed. Crazy believes that this number is impossible to reach in at least 10 years. After all, the total amount of global currency is limited. Ripple will rise 200 times unless it becomes the only universal currency in the world, but this obviously will not happen. However, there is still confidence that it will increase 3-5 times in the future.

SN X : It has become one of the cryptocurrencies with the largest amount of whale positions in the past 24 hours. Although the logic is unclear, this position does have the ultimate cost-effectiveness.

ADA: It is one of the relatively strong old mainstream coins in recent times, with sustained momentum, so you can keep an eye on it.