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.
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