📉 Personal Perspective on the Current and Future Crypto Market
At the moment, I believe we are in the final stage of a 4-year growth cycle with many familiar signs: 🔹 US stocks have reached a peak 🔹 The crypto and Bitcoin market also has a similar structure, where BTC has formed 2 peaks, with the later peak higher than the previous one. 🔹 Inflation is showing signs of rising again, which may lead the FED to keep interest rates high or even implement stricter monetary tightening policies.
🎮 $ESPORTS Talk about the price drop incident on May 25
The ESPORTS team has released an official statement regarding the strong token price reduction of $ESPORTS on May 25, stating that this was not an action carried out or directed by the project team. Based on initial investigation results, the main cause is believed to have come from an external partner assigned to provide liquidity support.
* 🤝 ESPORTS works with OTC partners and market makers to support liquidity and develop the ecosystem. * ⚠️ One of the partners carried out activities that were not in line with the agreement as understood and agreed upon by the ESPORTS team. * 💰 Most of the selling pressure is thought to come from the amount of tokens previously allocated to this partner. * 🔗 Tracing the flow of funds was difficult because the tokens were transferred across multiple wallets, between trading counterparties, and through exchanges. * 🚫 ESPORTS states that it did not sell tokens, and did not cooperate with or direct any dumping events that caused the price drop. * 🛡️ After discovering the issue, the team coordinated with exchanges and relevant parties to investigate and limit damages. * 💧 The project is implementing recovery measures, including: * Liquidity support. * Collaboration with new long-term partners. * Preparing game updates and announcing additional buyback programs.
Confluence: Some call Long $BEAT at the price that has broken down past MA25 will decrease further Some call Short $BEAT at the price that is currently testing MA25 will rise again => Don’t listen to anyone; opinions are for reference only—you must decide for yourself.
Yesterday it swept back to the $TAC top, added 2 more orders on the two tops, then dropped down to 58. It felt more like a sweep candle, so I cashed out volume for 2/3. Today woke up and saw it bounced back up again 🤣 Maybe I won’t be greedy....
So intense, guess $ESPORTS —right, have to loosen up, so settle everything first and pick it up right away at 275. Then it gets swept down all the way to 265. But the funding has turned negative now... $TAC