Original | Odaily Planet Daily
Author | Nan Zhi
On June 7th, BTC started to fall after coming close to $72,000, dropping significantly. There was only one rebound on June 12th, rising from $66,000 to $70,000 before falling again.
In a market with a significant overall decline, it is often possible to test which tokens have the most “buying the dip” value or are the strongest, including those that are most resistant to declines and rebound the fastest. Odaily Planet Daily divided the market trends of nearly ten days into the first decline on June 7th, the second decline on June 11th, the first rebound on June 12th, and the overall market trends of the past ten days, analyzing the data of 252 tokens on the Binance spot trading section (excluding stablecoins and gold synthetic coins) in terms of these two aspects. The following conclusions were drawn:
First Decline on June 7th
In the days leading up to June 7th, only BTC was rising, while most tokens had already started to fall, although not simultaneously. Therefore, this section starts calculating from 8:00 on June 7th when BTC began to decline significantly until 8:00 on June 8th.
Among the most resistant tokens, tokens related to “Sun Yuchen” continued to occupy multiple positions, with several tokens like HIGH, BTC, and ETH performing well during this period.
On the list of biggest decliners were mostly well-known tokens, which will be closely monitored for any rebound.
Second Decline on June 11th
After three days of consolidation, Bitcoin led all tokens in a new round of declines. This section covers the period from 0:00 on June 11th to 0:00 on June 12th.
It can be seen that tokens related to ‘Sun Yuchen’ still dominated the list of resistant tokens, while HIGH, which had the smallest decline in the first round, topped the list of decliners, indicating it no longer had buying value in the short term. Additionally, all tokens on the list of decliners had changed, meaning at least 20 tokens had become weaker.
First Rebound on June 12th
The day after the second round of declines, Bitcoin led the market in a rebound. This section covers the period from 0:00 on June 12th to 0:00 on June 13th.
LPT proved itself through the rebound, and other tokens like NOT and UNI also entered both the decliners and rebounders list.
On the other hand, HIGH, PEOPLE, and OM continued their weak performance, with the biggest decline and the smallest rebound.
Summary of Ten-Day Market Trends
Using 8:00 on June 7th as the baseline, the maximum decline was calculated based on the lowest price in the past ten days. The rebound was calculated based on the lowest price and the closing price at 14:00 today. The data is as follows.
HIGH was the weakest token in this round, with AEVO, CKB, and SATS also consistently appearing on the list of biggest decliners.
NOT, CRV, and UNI showed resilience, but there were no visible continuously strong coins except for BTC.
