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Summary of Current Bearish Market Views: Bitcoin Nearing Key Support Level, Could Drop to $90,000 or Below
BlockBeats News, November 3rd, Bitcoin led the cryptocurrency market to decline this morning, bottoming out at $107,494, with a daily decrease of 2.21%. BlockBeats has compiled the main analysis viewpoints before and after this round of decline as follows:
On October 30th, glassnode published a market viewpoint stating that the market continues to struggle above the short-term holding cost price (around $113,000), which is a key battleground for bulls and bears. If it fails to regain a foothold above this level, it may further retreat to near the on-chain investor cost basis (around $88,000).
CryptoQuant CEO Ki Young Ju last night made a series of on-chain data statements indicating that the average bitcoin wallet cost is $55,900, which means holders are averaging a profit of about 93%. On-chain fund inflows remain strong. The price is unable to rise due to weak demand.
Today, 10x Research CEO Markus Thielen commented after the market decline, saying that Bitcoin is approaching the support line since the crash on October 10th. If it falls below $107,000, it may drop to $100,000.
Chinese crypto KOL Banmuxia publicly stated today that the traditional four-year bull market cycle has ended, and Bitcoin will gradually fall to $84,000, then experience several months of complex oscillation, and by the end of next year or early the year after, it will follow the U.S. stock market bubble to surge to $240,000.
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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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