Blockchain can still serve its purpose while catering to institutional finance needs through privacy technology, says Aztec Labs’ Zac Williamson
Blockchain is being pulled between traditional finance and its decentralized ethos as the industry shifts to serve institutional products.
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Bitcoin is currently priced at $86,900. The BTC market is currently in a state of uncertainty due to both technical factors and the external environment. Key support is around $80,600, and resistance is around $88,885. Moving averages are in a bearish alignment, but short-term momentum is weakening, and the moving averages are flattening, suggesting the market may be entering a period of observation. On the daily chart, bulls and bears are battling, with the price fluctuating and falling back near the highs. The MACD indicator on the 2-hour chart shows that bears dominate in the short term; however, the uptrend on the daily chart has not been completely broken. Currently, the market may fluctuate within a range, and the recommended strategy is to short at higher levels and long at lower levels
Bitcoin is currently priced at 88,700, exhibiting low-volatility range-bound trading. While trend indicators still show a bearish alignment, short-term candlestick patterns have formed a bullish engulfing pattern, creating potential bullish resonance. The price level near the Bollinger Band’s middle line further indicates a relatively balanced market sentiment, making a clear breakout unlikely in the short term. Strong buying support exists at the daily chart’s lows. The 2-hour candlestick shows a small bullish candle, indicating short-term bullish dominance. The 2-hour MACD bullish signal is strengthening; the daily chart remains in a weak recovery phase, with the EMA providing effective short-term support, and the overall trend leaning towards bullish. Currently, the market is at two extremes: a short-term overall bullish trend and a long-term overall bearish trend. The recommended strategy is to primarily short on rallies, following the larger trend.
The DeFi Education Fund estimated that decentralized finance technology could potentially save people up to $30 billion annually by reducing remittance costs.
The DeFi Education Fund, an advocacy organization focused on decentralized finance, has proposed utilizing the technology to reduce costs, aiming to address poverty in the United States and globally.
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Daily chart: The decline is smooth; although there have been rebounds, they are weak. Indicators are all in a death cross and show no signs of turning back, indicating further downside potential.
4-hour chart: After a series of rebounds, three consecutive bearish candles have appeared, indicating significantly insufficient bullish momentum. The key resistance level above has not been effectively broken. The RSI has turned from flat to a death cross, and the overall pattern remains bearish. Intraday short-term trading is recommended to focus on selling on rallies.
Upside resistance: 93000-94000
Downside support: 87500-86500