广场E先生

Galaxy Sells Over 80,000 Bitcoins for Early Investors from the Satoshi Era

Recently, Galaxy represented an early investor from the Satoshi era in the sale of over 80,000 bitcoins, valued at over $9 billion at current market prices. Galaxy stated that this transaction is part of the investor's estate planning strategy and marks one of the earliest and most significant exits in the digital asset market.
#GalaxyDigital抛售比特币

$MERL Recently, this wave of rebound has seen a 24H increase of over 17%, with the price briefly breaking above 0.44 USDT, currently oscillating in the 0.43-0.45 range, and the market capitalization has also entered the top 100, showing a good momentum.

However, in reality, this is more about the behavior of market makers pulling the price up during the weekend when liquidity is lower, which can easily induce retail investors to chase the rise.

From a technical perspective, the resistance zone of 0.44-0.46 has been tested multiple times without effectively breaking through, and the strength of the rebound is getting weaker, with the overall structure already turning weak. The difficulty of continuing to attack in the short term is very high, and it may shift to a downward trend at any time.

The pressure on the supply side is even greater, as a concentrated unlocking is expected in mid to late December, with a large number of low-cost tokens entering circulation. The market's expectation of this wave of 'supply flood' will suppress buying enthusiasm, and holders tend to reduce their positions when prices are high, significantly compressing the rebound space.

On-chain data also shows that large holders have recently made large-scale transfers to exchanges, which usually indicates preparation to sell, especially on the eve of unlocking. This behavior is easily interpreted by the market as a bearish signal, further amplifying the expectation of selling pressure.

In summary, with technical resistance, the upcoming unlocking selling pressure, and unusual on-chain capital movements, the combination of these three factors indicates that the certainty and intensity of selling pressure are significantly higher than the support from buying, resulting in a clear bearish pattern in the short term. It is recommended to pay attention to resistance levels near 0.44-0.46 and consider placing short positions when prices are high.

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Recently, $MERL has indeed been a bit challenging. The position at 0.5 has been charged three times without success; each time it gets close, it turns back, and there's a bit of an increase in volume, clearly indicating that someone is waiting above with orders to sell.

Additionally, in mid to late December, there will be a routine unlocking of tens of millions of coins, and in the past few days on-chain, several large holders have been seen withdrawing coins to exchanges. Although this is just normal rebalancing, the market tends to overthink these actions, and sentiment quickly sours.

Now, the rebound feels weak, and trading volume isn't picking up; short-term trading is indeed not fun.

My feeling is that for the second half of December, there is a high probability it will still be biased towards weak fluctuations, and the rebound space is likely limited, so don't hold too high expectations.

In terms of operations, let's keep it simple: • For those with heavy positions, take the opportunity to short when it rebounds to around 0.42-0.45; right now, 0.41 is a good short position.

• For those with light or no positions, don't rush to get in; wait until the unlocking period is over and the price and volume stabilize before considering.

Yes

Awesome

Rich

Today let's talk about $MERL

On the technical side, to put it simply: the barrier at $0.5 is currently impossible to pass, and the more it tries, the weaker it gets, with signs increasingly favoring the bears.

In the past few weeks, MERL has touched around $0.5 three times, and each time it nearly reaches it before turning back, with the closing session consistently showing long upper shadows, a typical case of 'smash at the point'.

What's worse is that during these three attempts, although the trading volume appears to have increased, it is mostly selling pressure, and the buying side simply can't hold up. This reflects a situation where 'some want to run, but no one dares to catch'. The resistance level has been smashed down hard.

The most recent rebound even showed a clear divergence between price and volume: the price barely crept up a bit, while the trading volume actually shrank, indicating that the funds pushing the price up are already feeling hesitant and do not dare to put real money into it. The sustainability of the rise is almost zero.

Looking at the broader environment, BTC and ETH have also been fluctuating at high levels and retracing downwards these days. The overall risk appetite for the sector is weak, and funds are more inclined to realize profits. For a mid-cap like MERL to break through $0.5 in such an atmosphere is quite challenging.

Therefore, the current technical formation is leaning towards the bearish side, with almost no space above $0.5 in the short term, unless one day it can stabilize with a significant volume surge; otherwise, each rebound is likely to follow the rhythm of 'smash at the point'.

Personally, I believe that until we see a real breakthrough signal, the risk of chasing highs is too great, and it is better to short than to go long.

Exploded again

Beef

$MERL is currently still in a bearish trend, and there's no rush to catch the bottom in the short term. Over the past month, it has been pushed down three times after approaching 0.5, with each subsequent high being lower than the previous one, and the strength of the rebounds becoming weaker, forming a typical descending channel structure, with selling pressure clearly dominant. The market environment is also not friendly, with BTC and ETH continuing to decline, and funds flowing out, making it difficult for altcoins to stand out on their own.

Personally, I regard the area between 0.20~0.22 as a key observation point for three reasons:

1. The project's early costs are primarily within this range, and if it falls here, there is a high probability of a bottom-supporting action (not necessarily a hard pull, but at least it won't be allowed to break through);

2. A large number of retail investors' psychological defense lines are also concentrated here, and maintaining this level may form support, while breaking it could easily trigger panic selling;

3. From a trend perspective, this is the watershed for whether the bears can continue to exert force.

In terms of operational thinking, I suggest maintaining patience for now:

• If there is a rebound to around 0.45~0.48 and it faces resistance again and falls back, consider lightly shorting, with a stop-loss set at the previous high;

• If it directly breaks down the platform level of 0.28~0.30 with increased volume, then follow the trend to short, initially targeting around 0.22;

• For those wanting to go long, it’s best to wait until there are real signs of a bottom in the 0.20~0.22 area (such as a large down shadow with increased volume, significant transaction increases, or substantial positive news from the project) before taking action. In summary: the current trend is still dominated by bears, and until 0.20~0.22 confirms stabilization, it's best to remain observant or follow the bearish trend, cash is king, and avoid rushing to take the wrong side.

Friends who are watching $MERL can give it a follow, and I will update my views when we reach key positions.

$MERL is currently controlled by bears, don't think you can catch the bottom this time, around $0.2 is likely where the real opportunity lies.

No need to elaborate on the overall market, BTC and ETH have caused a significant drop, and funds are clearly fleeing, altcoins simply can't withstand it.

$MERL has touched around $0.5 three times this month, all ruthlessly shot down. The trading volume looks lively, but in reality, it's all just air; the buying can't keep up. Now, each high is lower than the last, and the rebounds are getting shorter, the bearish structure is obvious.

I've been keeping an eye on the $0.2 level for three main reasons:

1. The project's cost is essentially in the range of $0.18-$0.22, and usually, when it drops to this level, it won't just pass without any reaction;

2. Retail investors' psychological barrier is also around here; if it holds, there might be a chance to breathe; if it breaks, panic selling will ensue;

3. Key trend point: if it stabilizes, it indicates that the bears are starting to weaken; if it breaks, it will completely freefall, with plenty of space below. So don't rush to catch the bottom now, and don’t expect it to suddenly start a bullish trend.

If you really want to operate, wait for these two signals, which are the most reliable:

• If it rebounds to around $0.45-$0.48 and fails to go through, then gets pushed down again, you can slowly build a short position;

• Or wait for a direct breakout below the previous low; if it breaks, follow it, set your stop loss well, and don't stubbornly hold on.

In summary: the bearish trend of MERL hasn't changed; don't easily go long before $0.2. Wait around $0.2 to see if it continues to drop or shows signs of rebounding; the market will provide the answer. Hold your cash well, act in accordance with the trend, and don't go against it.

Brothers watching this coin can hit follow; when I see key positions, I'll shout out again.

Kaka

$MERL large holders on-chain are starting to loosen up, and the price is likely to retest the 0.2 range recently.

The trend of $MERL is becoming more interesting, with several large moves on-chain that don’t seem to indicate a buildup for upward momentum.

Especially the day before yesterday, a large holder transferred 16 million $MERL directly to Bybit (on-chain data: scan.merlinchain.io/tx/0xfa6a7c64f), and this volume is not something to be taken lightly; it clearly indicates some intentional operation.

Large transfers on-chain to exchanges are most likely to trigger a chain reaction. One transaction alone might not cause issues, but the market is sharp, and once people see it, buying interest will naturally become cautious.

Particularly since the current trend of $MERL is already not strong, such actions can easily be interpreted as pressure signals, and bullish confidence can quickly weaken.

From a structural perspective, the current market is leaning more towards downward adjustments rather than brewing a breakthrough upwards. If there are a few more similar transfers, the sentiment is likely to cool off quickly. Based on the current on-chain rhythm, a price retest around 0.2 is completely reasonable; it could wash out excess floating capital and allow sentiment to settle, which might actually be a healthier position for a real upward opportunity later.

In simple terms: short-term is bearish, and there is more room for shorting. It wouldn’t be too late to reconsider the strategy after it drops cleanly below 0.2, establishing a downward trend. Personally, I currently lean towards the bearish side, letting the market complete necessary adjustments first for better entry opportunities.

The market liquidity is too poor.

The recent adjustment in the crypto circle has been quite harsh, with BTC and ETH leading a significant drop. The overall market sentiment has suddenly cooled down, and even stablecoins have depegged and shrunk by 2%. It seems that the previously anticipated "super bull market" will have to be postponed, and achieving it by 2025 may not be so easy.

The overall trend has clearly shifted to bearish, with short positions gradually accumulating. The next step is very likely to be a deeper level of correction.

For those who still believe that altcoins being "down too much is an opportunity," you may be a bit too optimistic. Daring to heavily invest at this time or chase rebounds is essentially playing a high-risk game, and a slight misstep can easily result in being trapped.

Speaking of $MERL, it has struggled to break past the vicinity of $0.5 during previous attempts, as if it encountered a hard ceiling. Each time there was a significant volume increase, it lacked subsequent buying support, purely a case of a strong push reaching its limit.

Now it seems that a rebound is basically hopeless, and it is very likely to continue moving downwards along with the overall trend. Once the trend turns bearish, holding onto a sense of luck and resisting often causes the most damage. Having suffered losses from shorting last time, this time I still have to respect the trend; shorting is the more prudent choice.

Your sister, fell down and died like a dog,

The cultural future begins with this test
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apolloglobal
The Anemoy tokenized Apollo Diversified Credit Fund (ACRDX) will be deployed on Plume, funded by the $50 million ACRDX from @grovedotfinance
in collaboration with @centrifuge
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$PLUME