Market panic index is 24, still extremely panic

During the days when Europe and the United States are closed, the market seems to have lost its soul and volatility. This is a great torment for us, but it also illustrates a problem from the side. There is no selling pressure in the market at all. This is a signal of continued bottoming out. Only when all the chips are locked up can a new chapter be opened. People who have no knowledge of Bitcoin will gradually be thrown off the bus, and short-term holders who are not optimistic about its future will also sell their chips. The rest are firm companions, and the future will belong to those who have locked up the chips together.

The Governor of the Dutch Central Bank said that the cryptocurrency market may soon become a threat to financial stability. This is because of the unlimited payment potential of cryptocurrencies and their constant circulation. Against the backdrop of global inflation, capital will continue to flow into the crypto market, accelerating the decline in purchasing power after excessive currency issuance, threatening the credit of legal tender and causing large-scale financial stability. Cryptocurrencies will benefit infinitely from this. It can be said that the more chaotic the world is, the greater the demand for cryptocurrencies.

Google data shows that since the price fell from 69,000 to 40,000, the retail industry's interest in Bitcoin has begun to wane. This is normal. After all, they are not professional investors. They are most interested when the market is lively, and they pay no attention when the market is sluggish. It is these mobs that can bring us maximum benefits. When others are greedy, I am panicky, and when others are panicky, I am greedy. This is exactly the truth reflected by this phenomenon.

The Central Bank of Ukraine has imposed additional restrictions on citizens’ cross-border asset transfers, and individual investors are prohibited from transferring fiat currency to crypto exchanges. In short, in a state of war, the country’s currency will definitely be sold off and devalued on a large scale. In order to avoid a drop in value as much as possible, the only way to achieve temporary exchange rate stability is to control the escape channels of the country’s citizens.

Grayscale once again wrote to the SEC, striving to convert its GBTC into a Bitcoin spot ETF. It seems that Grayscale has been under increasing pressure recently. It has created a wretched stock GBTC, which has been discounted significantly against BTC, making it impossible for people to complete the conversion at a normal price. Investors will definitely seek redress. Grayscale was once as glorious as it is now. Perhaps this is the case of the changing fortunes of 30 years.

A partner at super law firm Dechert believes that Bitcoin is a mature enough asset to be included in publicly traded instruments. Bitcoin is indeed mature enough, and its liquidity is almost comparable to that of currencies in various countries. Most importantly, it is not regulated by anyone. If you want to transfer huge assets across borders in a bank, it is extremely difficult and expensive, but in the case of Bitcoin, it is a routine operation for whales.

ARK continues to buy Coinbase shares and sell GBTC. Although Coinbase is close to its lowest level since its opening, this does not affect Wood's continued increase in holdings. The future of Coinbase will still be linked to the currency price, so it can be indirectly understood that Wood is optimistic about the future of the crypto market.

Panic 24 is still extreme panic.

Coin News:

Bitcoin: This position has not been able to continue to fall, which shows that the selling pressure of funds in the currency circle itself is extremely small. There is still a chance of a rebound later, so hold it for now.

Ethereum: For now, the market is still linked.

APE: Funds are currently on this coin. Both the daily trading volume and the amount of coins held by large holders are increasing. Currently, the top 100 APE holders control 52% of the supply. The turnover at $16 this time shows a decrease in the number of addresses and an increase in the transaction volume, indicating that large holders are gradually replacing retail investors. On May 1, the parent company of the project will issue the Otherside Metaverse project, which is expected to continue to use APE as a trading medium. Therefore, the outlook remains optimistic and it is also the only hot spot in the market. It is likely to take over the hype of GMT and continue to be a monster.

LTC: Taproot has completed the upgrade, but it is still imitating Bitcoin, with no innovation and little impact.

ENS: Coinbase is assisting ENS in releasing ENS subdomains on Dapp, which is conducive to the development towards formalization and there is a chance of oversold rebound in the short term.

DOGE: Dogecoin transfer transactions are completed through Starlink, which is a bit like digital RMB (transfers without the need for an Internet connection). However, the advantage of Dogecoin is that it is more decentralized and backed by Starlink technology, which makes it more powerful. However, its target audience should not be as large as that of digital RMB. With Musk's continued support, we can look forward to it in the future.