Panic index 11, it's almost reached its limit

The continued plunge in U.S. stocks has already affected U.S. pensions. None of the 401k funds have had a positive return this year. Coupled with the five consecutive weeks of decline, U.S. stocks have entered an oversold state. Bitcoin even anticipated this week’s correction in U.S. stocks over the weekend. Amid the uncertainty of the epidemic and monetary tightening, the global macro is still unclear, so a large amount of funds are avoiding risky assets. This situation is expected to improve this week. If a bottom is reached, it should be a good short-term opportunity. Don’t panic with the crowd, just trade according to the original plan. Human greed and fear are the biggest obstacles on the road to investment.

Polygon's Chief Information Officer expressed his views on UST's depegging yesterday. Let me summarize it as follows: Judging from the data on Qiao, it was more like a self-directed selling activity. They took the lead in selling off UST, took advantage of panic, harvested cheap UST, and cashed out their own Ethereum reserves. They made money out of nothing and put it into their own pockets. Poor innocent Ethereum.

Luna Foundation has new news today. It will loan BTC worth 750 million US dollars to OTC trading companies to prevent UST from decoupling. At the same time, it will continue to buy BTC with 750 million US dollars. The founder then said that he did not plan to sell Bitcoin, but to hand it over to professional companies to buy high and sell low at the appropriate time. This news will stimulate Bitcoin's price increase in the short term, and it is also a real money purchase. The disadvantage is that once UST is decoupled in the future, it means that Bitcoin will suffer. In addition, they have found a professional institution to trade Bitcoin, and there is another smart whale on the road to making money in the future.

Many Indian crypto startups are moving to Dubai to avoid India's policies. For today's young people, the entire world belongs to them. Talents will go wherever there is a fertile ground for innovation. And it is those who can create innovative technologies that determine a country's wealth. This shows how important inclusive policies are to a country's future.

USDT has issued 1 billion US dollars, and big investors have come to buy at the bottom again.

CME Bitcoin futures opened at a gap lower at $1,610, forming a gap that should be filled soon in the future.

Japanese used car exporter SBI Motor announced that it would accept Bitcoin and Ripple payments. Cryptocurrency is so convenient for import and export companies that the cross-border business of banks in the past two years should be greatly affected. In the future, when blockchain matures, this business can be cancelled.

Panic 11, it's almost reached its limit.

Coin News:

Bitcoin: There is still no bullish consensus after the new low. A decent rebound is expected around 31,000. The market is difficult to endure, but this is the market. We can only look up and be in awe.

Ethereum: The number of addresses holding 1,000 ETH has hit a five-year low, and big investors have been scared away. The market is really terrible. Ethereum has fallen below the 2,500 given by the founder of Bitmex, and is now in a low-risk area.