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January 10 Market Dynamics

January 10 Market Dynamics

Bitget2024/01/10 01:45

I. Macro Trends

1. Market Trend: BTC shows an upward spike, but its performance in terms of increase is weak. The ETF fake news caused fluctuations, and the market consensus is that the SEC will announce tomorrow whether it approves 11 spot ETFs. The main line speculation of BTC is likely to end, with the focus shifting to ETH.

2. U.S stocks fluctuated, with Coinbase and MicroStrategy plummeting. The dollar index rebounded.

II. Market Hotspots

1. Public chain ETH rose, and the ETH/BTC exchange rate rebounded. IDO on ETH network such as SSV, RPL, OP, ARB surged significantly . If BTC's ETF gets approved, then the market might speculate on ETH's ETF and Cancun upgrade next.The short-term exchange rate of ETH/BTC may have a chance to make up for oversold rebounds due to waves . Because it's POS-based ,ETH’s ETF won't be available until at least next year at earliest.From a long-term perspective , this bull run of Eth would still lag behind BTC and SOL due to lack of innovation .

2.POND infrastructure has seen significant growth.

3.XAI went live but performed poorly.Its total market value was $1.6 billion which was much higher than its competitor GALA.Nodes mine coins every day with half-year unlock period.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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