Interpretation of cryptocurrency market on SEP 16, 2022

After the merger was completed, the overall market sank yesterday, the highest level appeared, but this time the rise was more of an emotional impact. After the merger's success, Vitalik Buterin and many supporters all posted articles to celebrate. As has been analyzed, the merger is significant, and the actual benefits are limited. And already experienced considerable speculation, so beware of good landing into negative.

Secondly, yesterday's all-network funding rates were unusual. A large number of short orders are hedging. This part of the order is closed after the snapshot is over. It is determined that you can get the forked tokens. There is a need to close the position. And a large number of short orders to close the position, it is possible to push up the market for a short time. However, closing short does not mean the market is bullish, so the rise will not have a follow-up force, and the current funding rate has returned to normal.

In addition, the forked chain is expected to launch today. The relevant airdrop details can be found in the BKEX announcement.

As for the operation, the suggestion is still no need to change. Short-term short orders are taken as they are, and medium-term short orders continue to be retained. And pay attention to the market trend before the month's end. First, see if it can continue to fall, the time point for the end of the month before the interest rate meeting when the situation needs to be analyzed again.