BitMart July 16 Market Report: BTC’s short-term trend is weak, and the rebound is weak after the correction
07-16 04:35

Odaily News According to BitMart’s market report on July 16, the total market value of the cryptocurrency market is approximately $3.71 trillion, up 1.08% from the previous day;
BTC has entered a correction since hitting a high point on July 14. The price rebound momentum is insufficient, the moving average has not formed an effective support, and the MACD indicator has not clearly turned strong. The short-term trend is neutral and bearish. Yesterday, BTC ETF outflow of US$13 million;
ETH has shown a strong performance, with prices breaking through previous highs, short-term moving averages showing a bullish pattern, trading volume increasing simultaneously, MACD forming a golden cross, and momentum continuing to increase. Yesterday, ETH ETF received an inflow of $20 million;
The prices of some mainstream altcoins have slightly adjusted, and the Fear and Greed Index is temporarily at 68 today;
BitMart X Insight data shows that the current crypto market sentiment is extremely optimistic. Driven by positive signals from the US government, large-scale institutional entry, and the expectation of Altseason led by ETH, BTC, ETH, and XRP are attracting attention;

The overall market social enthusiasm is positive, with an average SSI of 67.5. Coins such as NEAR (+54.65%) are leading the gains, driven by price increases, technological breakthroughs, and new features, but KOL attention is generally low;
However, the prices of most currencies have fallen, and social popularity has deviated from short-term price trends; the market warning is extremely high, and the social anomaly rates of the top ten currencies are all 100%. Investors are advised to be wary of market overheating and high volatility.

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