Crypto Market Analytics 06/22

BTC’s short-term contraction volume rebounded, which can be attributed to the large amount of BTC flowing out of the exchange last weekend, which relieved the pressure of selling. The latest data shows that more than 100,000 BTC flowed out of the exchange on two trading days, June 20 and June 21.

The data shows that the number of outflowing exchanges on June 20 was 76,681 BTC, and the total outflowing exchanges on June 21 was 43,120 BTC. The cumulative outflow of the two exchanges exceeded 119,000 BTC. If the number of BTC flowing out of the exchange increases significantly, it indicates that there is a decrease in the BTC waiting to be sold, which helps the price stabilize.

In the short term, the 30-day volume-weighted average price of BTC is $9399, which is very close to the current BTC price of $9409. Therefore, in the case of shrinking volume, the opportunity to change the market remains to be confirmed.

The data on buying shows that the number of BTC buying rebounded on June 20 and June 21, indicating that the short-term and long-term contention is showing signs of intensifying. At this time, the main force can also use the divergence of long and short to cover up the direction of the trader and push BTC in the real direction.

In terms of mainstream currencies, ETH has a strong short-term performance, and the daily K-line is about to break through the previous 7 trading days. This shows that, at least judging from the current price increase, ETH shows a typical bullish sign of continuing to rise.

If the closing performance of mainstream coins on June 22 can be higher, today you can decide on a relatively effective bullish signal.

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Disclaimer: Please do not take this as investment advice; please reply to your own judgment. The above analysis does not reflect any preferences of Bexplus exchange platform.