The price distribution of BTC positions as of 12pm today has changed from 22pm yesterday to 14 hours ago. It is clear from the data that, after the U.S. MTA and, to a lesser extent, Asia MTAs, BTCs are still in a low range, with less than 25,000 new BTCs added in 14 hours. In particular, BTC prices are still leading the way. Less than 300 of these chips are down, averaging about 21 an hour, while the high-hanging BTC has more than half a year of profitable positions. Even over the weekend, that is a rarity. The 4,400 overall loss chips above the $25,000 held for more than a month were indeed the highest recent number, but a closer look reveals more than 2,500 overall BTC underholdings at a cost of $40,000. After excluding this part of the chip reduction, in fact the overall loss-making chip reduction is only more than 1,800 chips, the average amount of reduction is about 129 BTC per hour, which is not much. So it is clear that selling pressure on early holdings remains low, with more turnover occurring near the current disputed price, and that sales of chips ranging from $18,000 to $20,000 have increased substantially.

As can be seen from the selling pressure transferred to the exchange, as of 8:00 this morning, the BTC selling pressure transferred is also a relatively low level recently, which also shows that the current price is almost unattractive to more holders. And the data withdrawn from the exchange is also at a low level because of the restriction of funds, but the comparison can cover the overall selling pressure, so it can be judged that the buying sentiment is still high.

For BTC itself is in the lower stock exchange inventory, with the increase of long-term holders, the inevitable flow is gradually reduced, and the decrease in the flow of accumulated time will change from volume to quality change, which is the nature of the BTC can rise, so you can see that even if the price is in a sustained downward trend, but the stock exchange is also in a gradual decline, can be said that the lower the price, the more intense the desire to buy. And the long-term holders' data have clearly shown us that, with the price volatility, the long-term BTC has not compromised and remains on a rising trend. Compared to yesterday's increase of 0.04%, the long-term holders' data show that there is another 0.04% of the BTC in circulation, which has not moved for more than 155 days. Judging from the time horizon, it should be the BTC in mid-March with a cost of nearly $40,000, which shows that the high-loss chips are willing to hold on the long term

And the other miner's position, which could be the main force for selling, looks at the recent increase in the BTC price, the miners have stabilized a little bit, but to be honest, although the change in the miner's stock is large on the graph, in fact, the change is only a few hundred or so per day. For example, today although there is a upward trend, the increase in the BTC is less than 300, so the influence of the miners on the price is still low.

From the regional perspective, the BTCs held by the US time zone are on a continuous downward trend. Although there was a period of struggle in early January, because they were in the stage of the Federal Reserve preparing to raise interest rates, the BTCs held by Americans began a long period of decrease after the BTC price fell, and there is no sign of recovery from the BTCs held by Americans. This also shows that Americans still prefer to sell rather than buy.

Looking at overall BTC positions in Asia, not only are they on the rise, but they are also rising very rapidly, with a year-over-year increase of more than 10%, which means that more of BTC is buying during its prime time in Asia, but we also know very well that this is mainly due to the fact that the prime deals in Asia and Europe overlap for a long time period, and that the amount of capital in Asia is relatively small.

The overall trend in Europe in the past six months, although in a rising trend, shows that the purchasing power of Europeans to the BTC is increasing, but relatively recently it has been a downward trend with a downward shock. From the point of time, since Europe's time is in the middle of Asia and the United States, both the rising and falling values will be affected. And as can be clearly seen from the trend of capital volume, the European time zone is the main source of purchases. So after comparing, it is clear that Europe is not only the main region where BTC is buying. Even major BTC shareholders, especially in the euro area, are preparing for substantial interest-rate hikes in the face of high inflation. The purchasing power of the BTC is not likely to decline in Europe, at least for now, and a reversal in the US may be possible, as interest-rate hikes in the United States draw to a close. When we know that Europe is the main position, we can see the BTC price floating from another perspective. We can see that the main time zone of the US is the current BTC price is in a situation of continuous decline. That is to say, the US stocks in the evening of Beijing opening up to 9am the next morning are the relatively low BTC price period. Looking at the position in Asia, we can see from the data above that the position of BTC in the Asia Time Zone is on an upward trend, so the price is relatively up and normal. Although we already know that it is Europe's time-zone purchasing power and holding that are the main force, so even though the whole Asia Time Zone is on the rise, in fact it can be considered that only part of the time associated with Europe is the main force. So from the BTC price changes in the European time zone, we can also see that the overall European time zone is also in a falling state because of the high correlation with the U.S. time zone. And when we combine the Asian time zone, we can basically conclude that every day from 15 p.m. to 20 p.m. is relatively easy to rise compared to the BTC, and the more long-time partners can also use this data combined with their own ideas to make a better judgment. Similarly, the price change data are available for the ETH version, and much as for the BTC version, it is also available for the ETH data from the US and Europe due to a downward price trend, and the Asian time zone due to a upward price trend. However, it is difficult to judge the ETH by the BTC version, because recent data suggest that the purchasing power of the ETH in the Asian time zone will increase more as the ETH consolidation approaches. Moreover, tracking this period shows that not only the Asian and even US time zones have experienced an increase in ETH purchasing sentiment, but also prices have relatively increased in both the US and Asian time zones, so more caution is needed.

From the ETH to 8:00 a.m. this morning to the exchange selling pressure and the withdrawal data from the exchange can be seen, the same as BTC is the ETH selling pressure is also a sign of continued decline, and the transfer of cash out of the data can not cover the overall selling pressure, which proves that the amount of short take is not only on the BTC, ETH is also the problem of funds shortage.

And both BTC and ETH have increased stocks in terms of stock on exchanges, but because they have been in the bottom range of stocks for the last four years, these modest increases have not had much of an impact on prices. It is also because tomorrow is the time to publish the CPI, and it is normal behavior for more chips to be shifted to exchanges ahead of schedule to avoid large price changes, so that little attention needs to be paid for the time being. On the emotional side, we can see that the BTC and the ETH are still in the opposite mood. The BTC is still in the bullish trend in a wide range, and the price rise is indeed good. While the ETH is still in the bearish phase, and even the bearish phase is increasing. On the price trend, the ETH does not have a large increase in the BTC, and even has dropped 0.08 on the exchange rate, but it cannot be overemphasized.

After the futures market opened early this morning, although it was in a downward trend, its decline was not obvious, and it cannot be ruled out that there will not be a low opening and a high opening after the U.S. market opens. After all, since 14:00 p.m., the futures indeed have an upward trend, which also drives up the BTC and ETH. Therefore, although it is a trite thing to say, lowering leverage is still a guarantee for capital safety.