The latest market in the currency circle: XBIT will take you to understand the market pullback

According to the data of the XBIT decentralized exchange platform, the Meme sector fell by 2.11% as a whole, ETH held the $3,000 mark, and BTC fell to 118,000 after breaking through 120,000.

The meme sector pulled back, and Bonk bucked the trend

The Meme sector fell 2.11% in 24 hours, led by Mog Coin (-17.93%) and MemeCore (-28.96%), but Bonk still rose 4.04%. According to the data of the XBIT decentralized trading platform, the market sentiment is significantly differentiated, and it is necessary to be vigilant against the risk of a high-level correction in the short term.

ETH firmed, BTC broke out and retreated

Ethereum (ETH) rose 0.76% to remain near $3,000, with funding rates showing the advantage of bulls (0.0083% weighted rate on holdings). Bitcoin (BTC) fell back to $118,000 after breaking through $120,000, with a 24-hour liquidation amount of $159 million, with a relatively high proportion of long orders, and short-term support at $105,631.

NFT/SocialFi performed well

The NFT sector rose 2.36%, and Pudgy Penguins (PENGU) rose 8.45%; In the SocialFi sector, Toncoin (TON) rose 1.18%. XBIT's decentralized trading platform suggests that although NFT accounts for only 0.5% of the market capitalization, ecological cooperation (such as x.game) may drive long-term growth.

Market hotspots and tools

1. Fund flow: The ETH/BTC exchange rate fell to 0.0187, and institutional funds are more inclined to BTC.

2. Long-short ratio: BTC has a high proportion of long orders liquidation, and there may be short-term adjustment needs.

3. Heat map: The RSI indicator shows that some currencies are overbought, and you need to be wary of technical divergence.

Data reference

BTC Funding Rate: Position weighted -0.0049%, turnover weighted 0.0012%

ETH Funding Rate: Position weighted 0.0083%, turnover weighted -0.0013%

NFT market capitalization: 0.5% (future potential to be released)

XBIT Lesson:

Through the heat map, you can quickly capture the rotation of plates, and the current NFT/SocialFi capital activity ranks first. It is recommended to use the XBIT long-short ratio tool to monitor the support strength of the BTC 120,000 mark, and be alert to the risk of liquidation of high-volatility currencies. XBIT. The Exchange decentralized exchange does not need to rely on centralized servers or institutions, transactions are executed on the blockchain through smart contracts, users always have private keys, and assets are stored in personal wallets instead of exchange custody, which is more secure.

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