January 23 Market Dynamics

I. Macro Trends

1. ffd0a791-ba19-489b-9aa2-c7bd56f938c1 Trend: BTC has fallen below 40,000, with Grayscale continuing to sell BTC. The long-short ratio of BTC hits a new high at 2.4. If we refer to the year 2019, after the big rebound and two retracements to the monthly line, the current monthly line is at 28,000. After rising for a year last year, it's highly likely that there will be half-year adjustments this year - two steps forward one step back.

U.S stocks are on the rise and continue to hit historical highs. Goldman Sachs predicts that Federal Reserve will cut interest rates four times throughout this year.

II.Market Hotspots 

1.The football fan coins SANTOS, PORTO and ARG are on an upward trend. Historically speaking,the performance of football fan coins doesn't have much correlation with market trends as they often go against them by increasing in value.Euro Cup and Copa America start in June this year; based on past experience,it might end up pulling several multiples ahead of time by ending a month early.

2.Platform coin FTT is rising; FTX liquidated and sold off $900 million worth of BTC for debt repayment.

3.Public chain SOL broke its position on weekly chart; altcoin decline has just begun.Game YGG plummeted,this week unlocking 6% of circulating supply.

4.Altlayer will launch secondary markets on the 25th.Currently,the air drop calculated according to OTC prices reaches a total market value of $30 billion.