After a few days of turmoil in the industry, and after a seemingly endless downward trend, the market experienced a bull market without encryption breakthrough, bitcoin (BTC) to around $3400. Since the Ethereum World News on Monday released the latest market news, the total value of all encrypted currency has dropped to $109 billion, compared with the previous day down 1.8%. The volume is slightly higher than that on Monday, the day after the adjustment of the volume increase of $200 million to $6 billion 900 million (unadjusted $13 billion 200 million).
As of publication, bitcoin fell 1.51% in the past 24 hours, the current trading price of $3430, the average daily turnover of only $4 billion 700 million. As usual, altcoins in the recent sell-off followed by low single digits (in percentage terms) announced losses. For example, XRP in the past 24 hours fell 0.5%, slightly higher than the performance of BTC. On the other hand, Stellar Lumens (XLM), Bitcoin Cash (BCH), Litecoin (LTC) and Monero (XMR) as the performance of the industry’s most important asset, their losses between 2% to 4%.
In this ongoing secret selling in the market, the report shows, short sellers, in other words, short, have begun to support their short positions. More specifically, according to the observation by the market (MarketWatch) Aaron (Aaron Hankin) forgewang compilation of DailyFX routing data encryption, currency traders has begun to reduce open bitcoin positions. At the same time, as mentioned earlier, speculators by holding short positions, exacerbated by their continued bearish mood.
The financial institutions based in Chicago, Illinois, analyst Nancy Pakbaz (Nancy Pakbaz) referring to the matter said:
Data show that 70.1% of the retail traders, traders are net long, long and short of the ratio of 2.35:1. At present, the proportion of net long traders to its lowest level since November 28th, bitcoin transaction price was close to $4200.66.
Pakbaz’s comments suggest that many investors still hold “net long” attitude to BTC, but he is not pessimistic, but DailyFX added, “the number of dealers increased 14% net short Monday,” and added that this data is increased by 21.4% compared with last week.
Translation: Kunming plus