Coinbase finally went public last night. At the beginning of the listing, it basically met market expectations, which rose sharply as soon as the quotation opened. At its peak, it rose by more than 70%, but eventually fell back. In the end, it only closed up by 31.31%, and the closing price was $328.28, and the current total market value is around 65 billion U.S. dollars. At the same time, Bitcoin has also fallen in the same period. Today's opening is still in a shock mode as a whole, and it is currently running below $63,000.
It can be seen from the current Bollinger Bands orbit that if Bitcoin price continues to push up yesterday, it will completely open the upward channel, but the final strength is not enough, and it still fails-the price has fallen under the pressure of Boll's upper rail. It is necessary to consider that the price will return to the track again, and the middle track is the short-term support.
However, in the long run, the problem is not big. It's just that the currency price may change in the short term. Then, if there is a strong rebound in U.S. stocks or technology stocks, the price of Coinbase may continue to rise, which may drive the price of cryptocurrencies to rise.
DeFi: In the near future, DeFi currencies may usher in opportunities, especially in the case of Bitcoin shock. If funds flow out, there must be a place to go. Recently, the regular mainstream has risen again, and the platform currency has been suppressed by the market value of Coinbase, and the DeFi currency has not exploded for a long time, coupled with the recent decline in Gas fees on the ETH chain and the rise in the price of ETH, it is still expected to promote a wave of DeFi currency prices.
DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.