Most retail investors are panicking, but institutions are increasing their inflows

The war between countries is indeed unpredictable. Just after the news of reconciliation was released yesterday, the war broke out again in an instant. Putin recognized the Donetsk Republic and the Luhansk Republic. The Russian stock market index collapsed directly by -15%, leading to a general decline in European stock markets. Nasdaq futures plummeted all the way, closing down -2.7% in the morning, not to mention Bitcoin, which went straight to the last line of defense of 36,000 for bulls. Seeing that the voices of 28,000 or even below 10,000 were heard in various groups, the madman knew that this position was not far from the bottom of the stage. 36,000 would not be effectively broken in theory. Millions of bitcoins were traded in the range of 36,000-41,000. These Bitcoins would not directly form selling pressure, so the supply would be stopped. At least in the short term, this position can be boldly bullish, but based on the continuous black swan events abroad, we can't trade according to conventional ideas. Since we don't understand the overseas situation, we can choose to remain unchanged in the face of changes and lie flat. Cryptocurrency itself is also highly volatile, and the future lost now will come back.

The draft submitted by the Russian Ministry of Finance shows that Russia will ban cryptocurrency as a means of payment, but will allow cryptocurrency transactions under certain conditions. Such a bill is good, protecting cryptocurrency investors, preventing legal currency from being infringed, and leaving a way out for the future, which is worth learning from.

California lawmakers have introduced a bill to allow residents to pay for government services in cryptocurrency, presumably following in the footsteps of Colorado and Illinois tax departments that are set to accept cryptocurrency payments.

The third richest man in Mexico suggested to continue to buy BTC at the bottom and hold it firmly. The madman also holds this view. The more people who don’t believe it, the more correct this thing will be.

DHH, a Bitcoin opponent, said on social media that he was wrong and that he needed Bitcoin. He did not believe that people who held Bitcoin were foresighted, but now he admits that his previous cognition was wrong. This guy was famous for opposing Bitcoin before, but he was finally conquered by Bitcoin.

The total value of Bitcoin miners' wallet tokens has dropped from $114 billion to $75 billion. As the price of the currency falls and computing power continues to grow, profits will decrease and miners will have to sell coins to buy electricity. Therefore, there will be selling pressure from miners in the future.

In the past month, a total of 219,000 Bitcoin addresses have been cleared. Under the influence of many negative factors, a large number of investors in the market have begun to surrender. This situation is difficult to sustain, and the general decline in the market will end soon.

On-chain data shows that the total number of active addresses in the 9 major networks in the past 7 days is 9.163 million. See the figure for details:

The ones with relatively large increases are MATIJFTM and CELO, while the ones with relatively large decreases are ETH and Ronino. The public chains with large increases will have greater potential in the future.

Last week, the inflow of Bitcoin investment products reached 109 million, the highest level since December 2021. Most retail investors are panicking, but institutions have increased the rate of inflow.

Panic 20, extreme panic.

Coin News:

Bitcoin: Optimistic about the defense of more than 36,000 troops, no need to panic too much in extreme panic.

ETH: The computing power has reached a new high, but the ecosystem has obviously stalled recently, and the GAS fee and destruction volume have decreased, so it is weakly linked to Bitcoin.

ADA: The 24-hour trading volume exceeds that of Litecoin and Ethereum. When it falls to this level, some funds begin to pay attention, and a rebound is expected in the future.

XRP: According to XRP's on-chain data, two transfers were found from Coinbase, totaling 88.6 million XRP. These are likely tokens used to resume XRP transactions. Combined with the recent increase in volume, it is likely that funds have paid attention in advance. Once good news comes out in the future, there is a possibility that they will be the first to reverse their losses.