Huobi Research
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Huobi Research

Morning Market Report(Jan.6)

BTC fell sharply overnight, hitting lows below 42,500.

According to data from Huobi Global, BTC fell sharply, touching below 42,500 and now sits near 43,500. From the 4h line, the three averages are steeply downward, the Bollinger band opening is greatly expanded, the volume has been enlarged, the short-term low oscillation, continue to probe the bottom is more likely. From the daily level, BTC has still been in the downside channel for a long time, the upside action is not enough, the follow-up may continue to oscillate at low levels and bottom down.

According to data from Huobi Global, ETH has pulled back sharply overnight and now sits around 3509. Looking at the 4h line, the three averages are diverging sharply and steeply to the downside, with strong short-side momentum and some volume expansion. On a daily level, ETH has fallen below the previous pressure level and is looking for effective support below in the short term.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures decreased slightly, the volume increased significantly, and the contract market was relatively inactive. The basis of futures contracts remained stable.

The open interest of ETH futures increased slightly, the volume decreased significantly, and the contract market was relatively inactive. The basis of futures contracts remained stable.

About us

Huobi Blockchain Application Research Institute (referred to as “Huobi Research Institute”) was established in April 2016. Since March 2018, it has been committed to comprehensively expanding the research and exploration of various fields of blockchain. As the research object, the research goal is to accelerate the research and development of blockchain technology, promote the application of blockchain industry, and promote the ecological optimization of the blockchain industry. The main research content includes industry trends, technology paths, application innovations in the blockchain field, Model exploration, etc. Based on the principles of public welfare, rigor and innovation, Huobi Research Institute will carry out extensive and in-depth cooperation with governments, enterprises, universities and other institutions through various forms to build a research platform covering the complete industrial chain of the blockchain. Industry professionals provide a solid theoretical basis and trend judgments to promote the healthy and sustainable development of the entire blockchain industry.

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Huobi Research

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.