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No Good News, How Low Will Bitcoin Go
The only resilient asset in the crypto world, Bitcoin, has also started to falter. In the early hours of the first day of February, a sharp correction brought it down to $75,000, piercing through the whale manipulations we have long trusted.
After nearly a year, we are once again seeing Bitcoin starting with a 7. The peak of the 2021 bull market was $69,000, very close indeed.
As usual, we must still look for reasons.
Geopolitical Conflict
First is international conflict. On the self-proclaimed fastest news source, platform X, several videos show explosions in various parts of Iran. Currently, the U.S. and Israel have not made any statements, and the authenticity is yet to be confirmed.
Iran is also conducting military exercises in a sensitive area, boldly displaying its lack of fear.
The conflict between the U.S. and Iran appears to be something already known but not confirmed in the market. The recent movements of a U.S. aircraft carrier and Iran's response caused a plunge in global risk assets, including gold. Increased uncertainty always leads Bitcoin, a 24/7 traded asset, to fluctuate first.
Government Shutdown
In the early hours of the 31st local time, the U.S. government officially began a partial shutdown. How fast, it feels like the last shutdown was just last year.
Prior to this, the U.S. Senate passed a spending bill to fund most federal government agencies and sent it to the House for consideration. However, since House members were not in Washington and would not return until Monday (February 2), a partial shutdown could not be avoided after the Senate vote.
Compared to the last record-breaking shutdown, this one seems less severe, but it's still not a good sign. The main issue is the locking up of hundreds of billions of dollars in liquidity, happening over the weekend when liquidity is already scarce. It can't get any worse.
Fear of Monday
The epic plunge of gold and silver, rumors of U.S. banks already collapsing, and the market still pricing in uncertainty; what will happen on February 2 is a global focus.
Where Will It Drop To
Placeholder VC Partner Chris Burniske previously stated the need to focus on key support levels such as $80,000, $74,000, $70,000, $58,000, and $50,000 and below. Short-term price movements are not the core focus. If the price rebounds, hold and gradually diversify. If there is a significant pullback, consider it an opportunity to increase holdings of Bitcoin and high-quality crypto assets.
Trader Merlijn The Trader previously stated that Bitcoin's key support level was around $80,000. Historical data shows that approximately 127,000 BTC were bought in that price range.
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WEEX P2P update: Country/region restrictions for ad posting
To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.
I. Overview
When publishing P2P ads, advertisers can now set the following:
Allow only counterparties from selected countries or regions to trade with your ads.
With this feature, you can:
Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.
II. Applicable scenarios
The following are some common scenarios:
Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.
III. How to get started
On the ad posting page, find "Trading requirements":
Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.
When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:
If you encounter this issue when placing an order as a regular user, try the following solutions.
Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.
IV. Benefits
Compared with ads without country/region restrictions, this feature provides the following improvements.
Aspect
Improvement
Trading security
Reduces abnormal orders and fraud risk
Conversion efficiency
Matches ads with more relevant users
Order completion rate
Reduces failures caused by incompatible payment methods
V. FAQ
Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.
Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.
Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.
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WEEX P2P update: Country/region restrictions for ad posting
To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.
I. Overview
When publishing P2P ads, advertisers can now set the following:
Allow only counterparties from selected countries or regions to trade with your ads.
With this feature, you can:
Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.
II. Applicable scenarios
The following are some common scenarios:
Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.
III. How to get started
On the ad posting page, find "Trading requirements":
Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.
When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:
If you encounter this issue when placing an order as a regular user, try the following solutions.
Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.
IV. Benefits
Compared with ads without country/region restrictions, this feature provides the following improvements.
Aspect
Improvement
Trading security
Reduces abnormal orders and fraud risk
Conversion efficiency
Matches ads with more relevant users
Order completion rate
Reduces failures caused by incompatible payment methods
V. FAQ
Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.
Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.
Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.
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