Market analysis: BTC is near the recent cost price, waiting for the main force to exert its strength

According to analysts, after nearly a month of sideways consolidation, BTC is already near the cost price of recent investors, and it is difficult to get out of this area. However, as the number of active addresses has retreated and most investors are on the sidelines in the short term, the market will be triggered when the activity level picks up.

From the cost price point of view, BTC is slightly lower than the 30-day moving average in the short term, indicating that the current price is already lower than the cost price of investors. At the same time, the number of active addresses on February 1 was 980,000, far lower than the peak of 1.34 million on January 6. At the same time, it is also lower than the short-term average value of 1.1 million, indicating that after more investors' trading enthusiasm has been suppressed, the short-term activity has a high room for recovery.

Once activity picks up and BTC volatility increases, new trend signals will be confirmed.

As for ETH, the price remained below $1,400. Although it rebounded frequently, it did not reach a new closing high. In terms of form, ETH is already in a narrowing volatility range. Considering that ETH had four consecutive top signals below $1,400 on January 20, January 24, January 29, and February 1, the price showed signs of breaking upward. Considering the shrinking trading volume, long positions fluctuated for the time being, waiting for the prompt information of ETH breaking through $1,400 to appear.

In terms of platform coins, the record high prices of HT and BNB indicate more bullish signals. In terms of DeFi, SushiSwap launched the first token issuance platform MISO

This further stimulated a sharp increase of 35% in the price of the currency. In terms of the daily chart, during the period of SUSHI's stable volume recovery, the market trend was relatively stable, and the typical volume peak has not yet appeared.

As for mainstream currencies, there are still many trading opportunities in the near future. Buying positions should be controlled mainly by buying at low prices, and profit opportunities will be further confirmed after BTC pulls up.